The U.S. property/casualty industry’s net income after taxes rose to $14.5 billion in first-half 2003 from $4.4 billion in first-half 2002, as both underwriting and investment results improved, according to Insurance Services Office Inc. (ISO) and the National Association of …
Aiming to be one of the top-performing companies in its sector, Safeco unveiled a new corporate structure with a clear focus on delivering Property & Casualty insurance products. As a result, Safeco intends to sell its Life & Investments business …
Following the completion of a previously announced review, Safeco strengthened reserves for workers’ compensation, affecting third-quarter financial results by $0.96 per diluted share. Safeco increased loss reserves and allocated loss adjustment expense reserves by $180 million pretax ($117 million after …
Employers Insurance Company of Nevada, A Mutual Company (“EICN”) and its wholly-owned subsidiary Fremont Employers Insurance Company (“FEIC”) (collectively “the Company”), leading providers of workers’ compensation products and services in the Western United States, reported statutory financial results for the …
Smith System, which provides professional driver training, announced the results of an analysis that found inadequate following distance to be the most common driving error. The Smith System study, culled from 50 years of training more than 100,000 drivers, shows …
Regions Financial Corp. reported it has acquired the assets of Louisiana-based Merchants Insurance Services Inc. The Merchants organization consists of four retail insurance agencies operating under the trade name the Crick Agency and a specialty wholesale managing general agency using …
Dallas-based U.S. Risk Insurance Group Inc. (U.S. Risk) announced it has entered into a financial transaction with London-based Insurance Broker, NCG Professional Risks Ltd. (NCG). The transaction involves U.S. Risk International Ltd. (a subsidiary of U.S. Risk Insurance Group Inc.) …
ACE Westchester Specialty Group, the U.S.-based wholesale focused excess and surplus property and casualty operation of the ACE Group of Companies, announced the formation of a new Umbrella/Excess Liability unit within its Program Division. Dennis W. J. Burton has been …
Insurance companies using credit-based insurance scores to underwrite and rate insurance coverage in Florida should reportedly be aware that the Florida Office of Insurance Regulation (OIR) will be taking a tough stance on the use of credit in the state. …
In a move that will reportedly help insurers fight auto fraud in the state, the Florida Joint Underwriting Association (JUA) board recently agreed to finance a prosecutor in the Dade County State’s Attorney’s Office dedicated to auto personal injury protection …
