The Allstate Insurance Company has been advised by the Los Angeles United States Attorney’s office that the investigation initiated into Allstate’s handling of claims arising from the 1994 Northridge earthquake in California has ended. Following an extensive review of the …
MarketScout, a Dallas-based e-commerce company specializing in the distribution of property and casualty insurance products, has added two new companies to its website offerings. The CIMA Companies Inc., based in Alexandria, Virginia, underwriting on behalf of CIGNA and Employers Insurance …
American International Group Inc. saw quarterly operating profits rise 16 percent during the fourth quarter, matching Wall Street forecasts as earnings from worldwide life and overseas general insurance operations grew. AIG’s fourth-quarter profits, excluding realized investments, rose to $1.528 billion, …
Fourth-quarter profits for Aon Corp. rose 29 percent based on higher insurance brokerage commissions and fees. Fourth-quarter operating profits before unusual items were $246 million, or 52 cents per share, meeting analysts’ expectations that the Chicago-based company would report earnings …
The National Alliance for Insurance Education and Research has promoted Jack Frick to executive vice president of the Academy of Producer Insurance Studies, the non-profit organization’s research division. Frick replaces W.L. “Will” Richard, who retired last March. Frick has been …
Greenwich, Conn.-based W. R. Berkley Corporation announced the commencement of a public offering of 2,700,000 shares of its common stock, proceeds from which are to be used to provide additional capital for its insurance subsidiaries and for general corporate purposes. …
Fortis, the Belgian-Dutch financial services group, announced that it will acquire a 30 percent stake in the insurance unit of Malaysia’s Maybank for $90 million. The insurance holdings, chiefly Mayban Life Assurance and Mayban General Assurance, will be restructured and …
GE Capital announced that it was abandoning its attempt to acquire the U.K.’s Equitable Life, following the Board of Directors rejection of its improved offer. The action leaves the way clear for U.K. mortgage lender Halifax to proceed with its …
The Swiss newspaper Blick published an advertisement offering a Sw.Frs. 500,000 ($303,000) reward for the safe return of a missing 162.5 carat pink diamond, described by experts as “of incredible purity and extremely rare.” The stone apparently disappeared last month …
CNA Financial Corp. has hired Stephen G. Stonehouse as president of the California Operations for Agency Markets. Stonehouse will lead the zone operation for California, and the Commercial Insurance branches in the state will report to him. In addition, he …
