Selective Insurance Group Inc. of Branchville, N.J. announced it has closed the sale of its 30-year senior convertible note offering, which generated proceeds of about $100 million for the company. The notes are senior unsecured notes, convertible under certain conditions …
Trumbull Services L.L.C., a Windsor, Conn.-based provider of outsourcing and technology services to P/C insurers, announced it has agreet to provide commercial lines administrative services to Cypress Point Insurance Services Inc., a managing general agency (MGA) based in San Diego. …
Aflac is very protective of its popular spokesduck; so when Ohio gubernatorial candidate Tim Hagan started using a similar image of the feathered friend on his Web site to attack incumbent governor Bob Taft, the insurance company sought a temporary …
The tornadoes that ripped through Indiana last week will prove costly. Preliminary estimates put the costs of repairing the damages in Marion County alone at $29,797,800. An article in the Indianapolis Star reported that a survey of the county showed …
Bermuda’s XL Capital Ltd. announced that its space and aviation operations, previously part of Brockbank Insurance Services, Inc., will now “be operating under the trade name of XL Aerospace, a division of XL Specialty Insurance Company,” which is part of …
Chubb Corp. issued a statement that its investment services subsidiary would vote its 54,529,566 ordinary shares in Hiscox plc against the shareholder resolutions seeking approval for the issuance of 96.4 million new shares in an effort to raise around £110.5 …
Four of the world’s largest insurance trade associations have provided the London-based International Accounting Standards Board (IASB) with detailed suggestions on financial statement disclosures for companies issuing insurance contracts. The recommendations from the American Council of Life Insurers (ACLI), American …
Hurricane Isidore, which has been downgraded to a tropical storm, is currently over the Gulf of Mexico, but its on track to hit the U.S. somewhere between Florida and Texas as early as tomorrow night. After causing widespread devastation in …
Seattle-based SAFECO has set up a $500 million three-year revolving credit facility which will expire in Sept. of 2005. The new facility replaces an $800 million credit facility that provided liquidity for SAFECO’s $300 million commercial paper program as well …
The Independent Insurance Agents & Brokers of America (IIABA) released preliminary results of the Future One 2002 Agency Universe Study, highlighting current demographic trends among independent agents. The study was previously conducted every four years, and now is conducted biennially …
