Illinois Director of Insurance J. Anthony Clark has revoked the business entity license of the Smagala Insurance Inc. of Oak Lawn and the insurance producer licenses of Christine L. Smagala and Stanley A. Smagala of Burbank effective April 25, 2003. …
A new independent consumer survey conducted for the Independent Insurance Agents & Brokers of America (IIABA) confirms that non-renewals and premium increases are becoming more common in the current homeowners insurance market. The national survey determined that nearly 2.5 million …
A report, which first appeared in the Philadelphia Inquirer, and was subsequently republished by Dow Jones, indicates that Pennsylvania regulators have reached an agreement with the other creditors over the division of the assets of the Reliance Group, which was …
Bermuda’s XL Capital Ltd announced that Mr. John Hume will relinquish his role as Chief Financial & Administrative Officer of XL Re Ltd. “to focus entirely on his responsibilities as Chief Financial Officer of XL’s global reinsurance operations,” but will …
Standard & Poor’s issued a statement following the successful initial public offering of shares in Promina Group Ltd., the Australian and New Zealand operations of the U.K.’s Royal & Sun Alliance Group (See IJ Website May 12), indicating that “the …
Swiss Re, the world’s second largest reinsurer, held its 139th annual shareholders meeting yesterday, and, as expected, shareholders approved last year’s SwF 91 million ($69.3 million) net loss, and the reduction of its dividend payment to 1 Swiss Franc, about …
AXA, the Paris-based global financial and insurance group, reported slightly lower total revenues for the first quarter of 2003 of 20.431 billion Euros ($23.495 billion), down 3.3 percent in absolute terms compared to the 21.12 billion Euros ($24.288 billion) it …
The Navigators Group, Inc. reported net income increased 40 percent for the first three months of 2003 to $4,834,000 or $0.55 per share, compared to $3,450,000 or $0.40 per share reported for the same period in 2002. The combined loss …
Progressive Corp.’s quarterly report reveals the company gave CEO Glen Renwick $4.5 million in stock awards, according to CBS MarketWatch. The stock was split evenly into restricted stocks based on performance and stock that could be exercised upon at a …
Omaha, Neb.-based Berkshire Hathaway Inc. nearly doubled the profit of the first quarter of 2002, thanks to the hardened insurance market. Berkshire reported a net profit of $1.73 billion, or $1,127 a share, compared to $916 million, or $598 a …
