The St. Paul Cos. advised today that the second-quarter 2003 earnings impact related to a surety exposure, with a total aggregate face amount of $120 million as previously described in a Report on Form 8-K filed on April 30, 2003, …
Galveston, Texas-based American National Insurance Co. announced second quarter 2003 net income of $25.7 million (97 cents per share) compared to $6 million (23 cents per share) for the same period in 2002. The second quarter of 2002 included a …
Chicago-based brokerage Hub International Ltd. announced that it has signed a proposal to purchase substantially all of the brokerage operation assets, primarily insurance relationships with customers and insurers, of Windy City neighbor Near North National Group. The proposal to purchase …
The WCIRB Governing Committee recently approved the filing of an average 12 percent increase in advisory pure premium rates to be effective on policies incepting on or after Jan. 1, 2004. The recommended increase was based on an analysis of …
Standard & Poor’s has affirmed its ‘AA’ financial strength and long-term counterparty credit ratings on Assicurazioni Generali SpA, the parent and main property-casualty company of the pan-European insurance group Generali. The outlook is negative. At the same time, Standard & …
To date, companies that insure almost half of Canada’s motoring public in New Brunswick have reportedly filed rate reductions with the province’s Public Utilities Board (PUB) and still more have rate reductions ready to be submitted and implemented. Nothing can …
In a legislative session reportedly dominated by budget issues, Delaware lawmakers rejected a ban on the use of credit-based insurance scores and took a compromise approach toward medical liability reform. The Legislature also passed a bill affecting insurers’ investment in …
Pennsylvania-based Harleysville Group Inc. reported diluted operating income of $0.33 per share for the second quarter ended June 30, 2003, compared to $0.46 per share in the same period of 2002. For the six months ended June 30, 2003 and …
Grand theft charges were filed against a licensed agent and owner of California-based SAAB Insurance Services. Irma Hernandez, 33, of Downey, was arrested and charged with two felony counts of grand theft and booked into Los Angeles County Jail. Bail …
The California Office of Administrative Law (OAL) last week approved the insurance department’s emergency regulation on homeowners insurance underwriting and rating. The regulation restricts insurers’ consideration of past losses. The Association of California Insurance Companies (ACIC) sought a “stay” on …
