Struggling insurer Safeco will raise premiums in an effort to right itself and its balance sheet after another quarter of disappointing earnings. Safeco reported a profit of $12.2 million, or 10 cents a share, from its insurance operations for the …
Reliance Group Holdings subsidiary Reliance Insurance will increase its loss reserves by $332 million in the third quarter as a result of an actuarial review. The review of its reserves identified worsening assumed reinsurance and commercial car insurance lines. The …
Hilb, Rogal and Hamilton Company today reported financial results for the third quarter and nine months ended September 30, 2000. For the quarter, commissions and fees, before the effect of acquisitions and divestitures, rose 5.2 percent. Net income, excluding non-recurring …
Trilon Financial Corp., one of Canada’s leading financial services companies, announced the formation of Imagine Reinsurance Holdings in Bermuda with initial capitalization of $200 million, which it hopes to increase to over $1 billion within the next two years. “The …
Royal & SunAlliance (RSA) became the first foreign company to receive a license to write p/c insurance from India’s Insurance Regulatory and Development Authority (IRDA) with its partner Sundaram Finance Ltd., finalizing its return to the Indian market following the …
Masaharu Hino, the head of Japan’s Financial Services Agency (FSA) which oversees the Japanese insurance industry, indicated that his office would press life insurers to supply more information concerning their financial condition in the wake of the bankruptcy protection filings …
Lloyd’s and the International Underwriting Association (IUA) jointly announced the selection of information technology specialist Xchanging as a partner in a joint venture which will develop and operate a unified premium processing and claims service covering the London market. The …
E-mail is the most effective communication tool since the telephone. In fact, 80 percent of computer users say the top reason for getting and using a computer is e-mail. As an insurance professional, are you making the best use of …
When Agents Divorce Their Insurance Company Insurance companies and insurance brokerage houses (employers) use a variety of devices to try to prevent departing agents from competing against them. Sometimes smaller agencies do this, too. The three principal theories in these …
A majority interest in Esurance Inc., a direct-to-consumer online provider of personal lines insurance, was acquired by Folksamerica Holding Co. Inc. It was just the right thing at the right time,” Jean-Bernard Duler, CEO of Esurance, told Insurance Journal. “We …
