Chinese and EU negotiators have apparently reached agreement on granting an additional 7 licenses to European insurers, as agreed in principle last May when the bilateral accords were reached between the two as part of the process that will eventually …
New York Life Investment Management Holdings, a wholly owned subsidiary of New York Life Insurance Co., has signed a definitive agreement to acquire the assets of Towneley Capital Management relating to the investment management of the Eclipse mutual funds and …
The California Commission on Health and Safety and Workers’ Compensation (CHSWC) is evaluating a proposal that it undertake a study of the California Hospital Fee Schedule. The study would include the following: review of adequate pricing for leading inpatient drugs; …
New officers for the Association of California Insurance Companies (ACIC) were unanimously elected at the property and casualty insurance group’s recent annual meeting. Fred C. Bosse, vice president, state legislative affairs, for USAA Insurance Co., was re-elected chairman and Barry …
In its third quarter earnings release yesterday, Conseco announced improved earnings from operations and a series of one-time charges as new management continues to execute the turnaround of the Indianapolis-based company. Conseco continued to show improvement in its two core …
American International Group posted a 14.6 percent rise in third-quarter profits Thursday. Meanwhile, the company’s chairman raised the possibility of insurance acquisitions across the world. Net income for the third quarter, including net realized capital gains increased 9.3 percent to …
Meridian Insurance Group will be purchased by State Auto Financial Corp. of Columbus, Ohio. The company will pay $30 a share, or more than $228 million, to buy the large Indiana insurer. The deal, announced late Wednesday, brings to an …
Swiss Re and the French Bank Société Générale (SocGen) announced that they have jointly concluded the financing of a line of credit up to $1.075 billion for Compagnie Financière Michelin (CFM), the holding company for the Michelin tire group. The …
Following a review of its New Zealand p/c business, CGNU, the U.K.’s largest insurer, announced plans to sell its affiliate State Insurance and concentrate its efforts on New Zealand Insurance (NZI), its life company. State Insurance was formerly a subsidiary …
The European Commission, the European Union’s administrative arm, has given the Italian government three weeks in which to end its price freeze on automobile insurance premiums, in effect since the beginning of the year. The Commission found that the restrictions …
