Marsh& McLennan, Willis Group and Aon Corporation have confirmed that they have received subpoenas from New York Attorney General Eliot Spitzer. The subpoenas are seeking information as part of a preliminary inquiry into compensation agreements between insurance brokers and insurance …
Washington, D.C. – Rep. Barney Frank (D-Mass.), ranking member of the House Financial Services Committee, told a gathering of independent insurance agents on the final day of the Independent Insurance Agents & Brokers of America’s (IIABA) National Legislative Conference, that …
The federal jury, which began deliberations on Monday, April 19, in the first of three potential trials to determine the extent of the recovery for the destruction of the World Trade Center, has as yet reached no verdict. They will …
The Property Casualty Insurers Association of America has issued a quick response to the report issued by the Consumer Federation of America (CFA), which said that extension of the Terrorism Risk Insurance Act was largely unwarranted (See IJ Website April …
American International Group reported a 35.9 percent increase in first quarter net earnings to $2.66 billion, or $1.01 per share, compared to $1.95 billion or $0.74 per share in the first quarter of 2003. The company said that “Net Income …
The Property Casualty Insurers Association of America expressed disappointment that Senate Democrats blocked consideration of a bill (S. 2290) (see IJ Website April 20) to reform the asbestos litigation system, calling it a “defeat for victims of asbestos-related diseases, American …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) of Sweden’s Sirius International Insurance Corporation, and removed the rating from under review where it was placed following the proposed acquisition by White Mountains Insurance …
Standard & Poor’s Ratings Services announced that it has affirmed its ‘A+’ counterparty credit and financial strength ratings on IPCRe Ltd. and its ‘A+’ financial strength rating on IPCRe Europe Ltd., collectively referred to as IPCRe, with a stable outlook. …
A.M. Best Co. announced that it has assigned a financial strength rating of “A” (Excellent) to TD Reinsurance (Barbados) Inc. with a stable outlook. “The rating reflects TD Re’s very strong and consistent operating performance, excellent capitalization and favorable liquidity …
Cincinnati-based specialty insurer Midland Co. reported record results for the first quarter of 2004. Net income per share was 90 cents, including 16 cents in realized capital gains. That compares with the prior record of 56 cents per share in …
