AIR Worldwide Corp., a leading catastrophe modeling company, estimates that losses from the recent outbreak of severe weather in the central United States could exceed the $2.2 billion loss caused by a severe weather system on April 6-12, 2001, making …
The Florida Insurance Council reported that committee members in the state’s House of Representatives are beginning work in a special session on two bills not related to state spending—workers’ compensation and PIP/auto insurance. The Florida Legislature has convened in a …
According to reports from Dow Jones Newswires, the Pennsylvania Insurance Department and the creditors of the bankrupt Reliance Group have presented a proposed agreement to U.S. Bankruptcy Judge Arthur Gonzalez in New York to split the group’s remaining assets on …
Allentown’s Penn Treaty American Corporation announced that “its expectations for first quarter net income and diluted earnings per share of $3,118,000 and $.07, respectively.” The anticipated results in the quarter include a pre-tax realized gain from its notional experience account …
The National Association of Independent Insurers announced that a Massachusetts legislative budget proposal, which would require insurers to help the government capture welfare payments to recipients who also receive liability payments, “would have serious implications for insurers doing business in …
On May 8 the New Hampshire Insurance Department announced that Commissioner Paula T. Rogers has filed a Petition with the Superior Court of Merrimack County for her appointment as Liquidator of The Home Insurance Company. A hearing on the Petition …
Standard & Poor’s Ratings Services announced that it has raised its public information insurer financial strength rating on Hong Kong-based Tugu Insurance Co. Ltd. (Tugu Insurance) to ‘Bpi’ from ‘CCCpi,’ “following the recent upward revision of the local currency sovereign …
Gerard de La Martiniere, the member of AXA’s Management Board in charge of Finance, Control and Strategy has been elected Chairman of the French Federation of Insurance Companies (F.F.S.A.), effective immediately, and has consequently resigned his position with the giant …
Standard & Poor’s Ratings Services announced that it has lowered the insurer financial strength and counterparty credit ratings on AMP Life Ltd. to ‘A+’ from ‘AA-‘, and has also lowered its ratings on AMP Group Holdings Ltd. and AMP Bank …
Platinum Underwriters Holdings, Ltd.’s first full quarter of independent operation since its initial public offering last October got off to a good start. The company reported net income of $30.6 million, or $0.71 per common share, for the quarter ended …
