Pennsylvania’s Harleysville Group Inc. (HGIC) announced that it is increasing loss reserves for prior accident years by $42 million pre-tax, or $0.92 per share after tax, in the fourth quarter of 2003, reflecting reserve increases primarily in four business lines. …
The Insurance Bureau of Canada issued a bulletin confirming that the IBC and CGI are ready for the upcoming April 1, 2004 launch of the new MVR service that replaces MTO’s current electronic MVR service for P/C insurers, brokerages, adjusting …
Gary Schmalzriedt, Chairman and CEO of ACE Overseas General (AOG), announced that Tomas Urbanec has been named as Executive Vice President, International Personal Lines. AOG is a financial reporting unit of ACE Limited, which comprises the Company’s international property casualty …
Benfield, a leading independent reinsurance intermediary, announced an agreement with eReinsure.com Inc. to use the company’s technology platform to assist certain ceding companies manage the purchase of facultative reinsurance solutions in London, the United States and Asia. Since its launch …
Transatlantic Holdings, Inc. reported that its net income for 2003 increased 79.3 percent to $303.6 million, or $5.75 per common share (diluted), compared to $169.3 million, or $3.21 per common share (diluted), in 2002. Net income for the fourth quarter …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) of Germany’s Allianz Aktiengesellschaft and its core subsidiaries. It has also affirmed the “aa-” ratings on Allianz’ senior debt issued by Allianz Finance B.V. and …
Virginia-based Hilb Rogal & Hobbs Company reported financial results for the fourth quarter and year ended Dec. 31, 2003. For the fourth quarter, total revenues were $142.7 million, compared with $128.7 million a year ago, an increase of 10.9 percent. …
“Celebrating the Past, Shaping the Future” is the theme of the CPCU Society’s 60th Anniversary celebration during 2004. The spirit of the year-long celebration promotes remembering the Society’s foundation for success and looking forward to its members’ continued contributions to …
Jeffrey Fuller, executive vice president and general counsel for the Association of California Insurance Companies, released the following statement in regarding workers’ compensation reform: In 2003, the legislature took a major step in reforming California’s broken workers’ compensation system by …
Woodland Hills, Calif.-based Zenith National Insurance Corp. declared a regular quarterly cash dividend of $0.28 per share on its outstanding shares, an increase from $0.25 per share paid quarterly since the first quarter of 1991. The dividend is payable May …
