Bermuda-based Max Re Capital Ltd. reported net income for the three months ended December 31, 2003 of $36.4 million, or net income of $0.76 per diluted share, compared to net income of $11.0 million, or net income of $0.29 per …
Skandia announced that the sale of its Japanese operations to Millea Holdings’ subsidiary, The Tokyo Marine & Fire Insurance Co. Ltd., has now been completed after receipt of the customary regulatory approvals. The transaction, valued at 20 billion yen, or …
Barbados-based Everest Re Group, Ltd. reported a fourth quarter 2003 net income increase of 119.2 percent to $121.8 million, or $2.15 per diluted share, compared to $55.6 million, or $1.08 per diluted share, in the fourth quarter of 2002. It …
According to a new report from Standard & Poor’s Ratings Services, “reinsurance companies are trailing U.S. insurers in their recognition of inadequate reserves, and as their backing turns to bad debt, conflict will ensue.” “The warning signs are coming thick …
France’s AXA Group reported total revenues for 2003 of 71.628 billion euros ($89.18 billion) compared to 74.727 billion euros ($93 billion) in 2002. The company said the decrease reflected its decision to exit certain less profitable lines of business, as …
Keenan, the largest privately held brokerage firm in California, announced the appointment of Molly Joel Coye, MD, MPH, to its Advisory Board. Dr. Coye served as the Director of the California Department of Health Services from 1991 to 1993, and …
BenefitMall, one of the nation’s leading broker services companies, announced that it has purchased the assets of Colorado Group Services (CGS), a full-service general agency that has served Colorado’s brokerage community for more than 15 years. As part of the …
Travelers Property Casualty Corp. will now provide Web-based ability to create and print Ocean Cargo Certificates of Insurance to its Ocean Cargo policyholders and their agents. In addition to the anywhere, anytime convenience of a Web-based application, this new on-line …
Harold Fischer, CEO of Florida-based North American Liability Group, announced that its two principal shareholders of the company have agreed to retire shares of common stock of the company in exchange for Series B Preferred Shares. Specifically, the company has …
According to the Fraud Investigation Division of the Kentucky Office of Insurance, two individuals have been convicted of committing fraudulent insurance acts. Mark A. Calitri, 34, of Richmond was found guilty of two counts of fraudulent insurance acts over $300. …
