A bulletin from the Professional Insurance Agents of New York noted that the New York Property Insurance Underwriting Association has now been closed down for new business for 20 days, equaling its previous record shut-down in 1997. (See IJ Website …
Philadelphia-based PMA Capital announced that its shareholders had voted in favor of all proposals presented at the company’s Annual Meeting held May 21. Specifically the shareholders voted to: “elect Frederick W. Anton III, Joseph H. Foster, James F. Malone III, …
The National Association of Independent Insurers has issued a statement indicating that proposed legislation in New York that would require the Department of Health to conduct a comprehensive study on the health risks of mold and impose assessment and testing …
Standard & Poor’s announced that, following a review of the company, it has affirmed its ‘AA’ long-term counterparty credit and insurer financial strength ratings on Spanish social security mutual FREMAP Mutua de Accidentes de Trabajo y Enfermedades Profesionales de la …
Bermuda-based Allied World Assurance Holdings, Ltd announced the opening in London of the first underwriting branch of its Irish insurance subsidiary, Allied World Assurance Company (Europe) Limited (AWAC-E), under the direction of J. Michael Baldwin as Managing Director. “The London …
A.M. Best Co. announced that it has affirmed the financial strength rating of ‘A’ (Excellent) for the Bermuda-based PXRE Group Ltd.’s reinsurance subsidiaries, but has maintained its “negative” outlook. Best said the “rating action applies to PXRE Reinsurance Company, Hartford, …
The Bermuda-based AlphaStar Insurance Group Limited (the successor company to Stirling Cooke Brown) reported that it had received a notification from the Nasdaq Listing Qualifications Department on May 21 that the Company “has failed to comply with the filing requirements …
Zurich Financial Services, joined R&SA in reporting improved first quarter results, posting a net profit for the period of $114 million, compared to $6 million in Q1 2002. The group’s operating profits rose to $785 million from $391 million in …
The U.K.’s Royal and Sun Alliance announced a first quarter group operating profit of £95 million ($156 million), calculated on the basis of revised investment assumptions introduced at the beginning of this year. Net profit attributable to shareholders was £2 …
Itasca, Ill.-based Arthur J. Gallagher & Co. today declared a regular quarterly cash dividend of 18 cents per share on the common stock of the company, payable on July 15 to shareholders of record as of June 30, 2003. Gallagher …
