The Superior Court of Providence County has granted the petition of Rhode Island’s Insurance Commissioner, Marilyn Shannon McConaghy, to place two local insurers, Pawtucket Mutual Insurance Company and its sister company, Narragansett Bay Insurance Company, under voluntary rehabilitation. The order, …
Toronto’s Lindesy Morden Group, a leading global provider of independent insurance claims services, announced a first quarter net loss of $1.991 million, compared to a $7.940 loss for the same period last year. The company had gross revenues of $111.117 …
Standard & Poor’s Ratings Services said announced that it has affirmed the ‘A’ counterparty credit rating on Sweden’s Skandia Insurance Co. Ltd., and has revised its outlook to stable from negative. “The rating action follows the announcement on May 1, …
Allied World Assurance Holdings, Ltd., the Bermuda-based insurer set up in 2001 by AIG, Chubb and Goldman Sachs, reported net income of $55.806 million, including $4.1 million of net realized investment gains, for the first quarter, compared to $17.8 million …
Lloyd’s announced that Ireland’s Hooper Dolan Insurances Ltd has become the first Irish-based insurance broker to be granted direct access to Lloyd’s of London. Two UK-based brokers, Woodgate & Partners Ltd and SSL Insurance Brokers Ltd, also gained accreditation. “Hooper …
A.M. Best Co. announced that it has placed the financial strength rating of A- (Excellent) of Gerling Canada Insurance Company (Toronto) “under review with developing implications.” The bulletin noted that the rating agency had affirmed its ratings on the parent …
Canada’s Fairfax Financial Holdings Limited announced that net earnings for the first quarter of 2003 increased to C$154.6 million (U.S. 108.8 million) or C$10.60 per share (U.S. $7.46), as a result of continued improvement in its insurance and reinsurance operations. …
Berkshire Hathaway Inc. CEO Warren E. Buffett announced the Omaha, Neb., insurer would have first-quarter operating earnings of about $1.7 billion, which he described as “the best operating earnings we’ve ever had,” according to The Wall Street Journal. Berkshire reported …
Schaumburg, Ill.-based Zurich North America’s Small Business unit has announced a new download capability that gives agents and brokers access to Zurich direct bill commission data. This service is available to agents and brokers who subscribe to the Applied TAM …
A brief filed Friday supporting class certification in sexual harassment and discrimination lawsuit against an Aon subsidiary, Combined Insurance Co. of America, included excerpts from 128 declarations signed by former and current women employees who detailed the pervasive discriminatory and …
