Online insurance marketplace InsWeb Corporation announced that net loss for the second quarter ending June 30, 2001, would be wider than consensus estimates due to ‘disappointing’ growth in its auto insurance offering. The Sacramento-based Company expects revenues for the second …
Zurich North America’s Excess & Surplus Group is offering a new coverage for expenses related to product recalls, the company announced yesterday. The product recall expense coverage is designed for small to mid-sized manufacturers, distributors and retailers of consumer, industrial …
Ohio Casualty Corp., the parent company of a collection of auto, home and business insurers, is planning to offer early retirement to more than 300 staff–approximately 10 percent of its workforce. Ohio Casualty is also withdrawing from auto and home …
In another sign of good times for the market in insurance equities, Deutsche Bank Alex. Brown announced that analyst Alain Karaoglan would initiate research coverage of Renaissance Re with a “Buy” rating. Bermuda-based Ren Re “epitomizes all the characteristics that …
NRMA, Australia’s largest insurer, has apparently weathered the management shakeup which began last April and saw the departure of its chairman Nick Whitlam and its managing director Eric Dodd. Standard & Poor’s, the international rating service, announced that it was …
A British High Court Judge yesterday approved Friends Provident’s demutualization plan. The company is now set to convert to public ownership next month, and set a target price between 210-270 pence ($2.94 – $3.78) for its shares. The move was …
Hardening insurance rates and increased profit expectations propelled Willis Group Holdings’ initial public offering price well beyond the expected $10-$12 per share range.(See previous article) All 20 million shares were sold yesterday to investors for $13.50 per share, raising $270 …
Three New York individuals were recently arrested for their alleged involvement in a no-fault insurance fraud scheme. Igor Perlov, a security guard; Inna Perlova, his wife; and Lidiya Shvarts, their neighbor; both who worked as home care attendants, allegedly tried …
Several bills that would have increased insurance costs died as the Connecticut State Legislature adjourned its 2001 regular session, according to the American Insurance Association. “A number of bills that would have placed onerous restrictions on insurers and increased costs …
They came offering a wide array of products and services as the 50th Annual San Diego “I”-Day rolled into the downtown Convention Center June 1. More than 70 exhibitors turned out for the event, which also featured a luncheon, awards …
