Electronic Stability Control (ESC) systems appear to be effective in reducing the number of single-vehicle crashes, including rollovers, according to a preliminary study by the U. S. Department of Transportation’s National Highway Traffic Safety Administration (NHTSA). The technology has proved …
The London market in general and Lloyd’s in particular has not been overly verbose in commenting on New York State Attorney General Eliot Spitzer’s ongoing investigation of the insurance industry. Apart from a widely quoted statement from CEO Nick Prettejohn …
Willis Group Holdings Limited reported that net income for the third quarter of 2004 was $75 million, or $0.45 per diluted share, compared with $99 million, or $0.59 per diluted share, a year ago. The international broker’s net income for …
A.M. Best Co. announced that it has downgraded the financial strength rating to “A+” (Superior) from “A++” (Superior) of Transatlantic Reinsurance Company and Putnam Reinsurance Company, both New York-based companies that operate under a pooling agreement, as well as the …
Bermuda’s ACE Limited reported a net loss for the third quarter ended Sept. 30, 2004 of $3 million or $(0.05) per common share after payment of preferred dividends, compared with net income of $355 million or $1.22 per share for …
Houston’s HCC Insurance Holdings, Inc. announced today that it has reached an agreement to acquire the 34 percent interest, currently owned by CNA Surety, in the common shares of the U.K.-based DeMontfort Group of companies. The agreement covers CNA’s common …
Bermuda’s RenaissanceRe Holdings Ltd. reported a net operating loss attributable to common shareholders of $372 million for the third quarter of 2004, versus net operating income available to common shareholders of $112 million for the comparable period in 2003. Even …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) of Bermuda-based Olympus Reinsurance Company Ltd., has removed the rating from under review and has assigned it a stable outlook. Best has also assigned an …
U.S.I. Holdings Corp. (Nasdaq: USIH) on Wednesday announced that the Office of the Attorney General of the State of Connecticut has subpoenaed the company, requesting documents and seeking information as part of an industry-wide investigation relating to pricing and placement …
Emmett J. Vaughan, a renowned professor of insurance at the University of Iowa’s Henry B. Tippie College of Business, has passed away at the age of 69. Funeral services will be held on Sat., Oct. 30, at St. Patrick’s Catholic …
