More than two years of insurance fraud allegations were ended by Dawson, Ga. Mayor Robert Albritten when he pleaded no contest to nine misdemeanor counts. According to The Macon Telegraph, Albritten, a retired insurance salesman, was sentenced to 12 months …
A.M. Best Co. announced that it has affirmed the financial strength rating of “B++” (Very Good) and the issuer credit rating of “bbb” of Malaysia’s Labuan Reinsurance with a stable outlook. “The rating reflects the company’s improved underwriting performance, solid …
A.M. Best Co. announced that it has assigned indicative ratings of “bbb” to senior unsecured notes, “bbb-” to subordinated notes, “bb+” to junior subordinated notes and “bb” to preferred stock of Bermuda-based Aspen Insurance Holdings Limited’s recently filed $500 million …
Bermuda-based Montpelier Re Holdings Ltd. reported net income of $102.4 million, or $1.53 diluted earnings per share, for the three months ended December 31, 2004 and net income of $240.3 million, or $3.55 diluted earnings per share, for the year …
Bermuda-based Endurance Specialty Holdings Ltd. reported net income of $113.1 million or $1.71 per diluted share for the fourth quarter of 2004 versus net income of $88.9 million or $1.31 per diluted share in the fourth quarter of 2003. Q4 …
The “Kyoto Protocol” or Treaty, a global agreement aimed at reducing greenhouse gasses, has come into force seven years after it was established. So far 141 countries, accounting for 55 percent of greenhouse gas emissions, have ratified the treaty, which …
San Francisco-based Woodruff-Sawyer & Co. announced the appointment of Susan Stone as vice president/account executive with the firm’s Real Estate Practice. Stone’s role will be to develop new business opportunities and to provide strategic consulting and brokerage services to Woodruff-Sawyer’s …
The Indiana House passed HR 1403, a fraud bill that would increase jail terms for larger insurance scams, by 95 to one and will move to the Senate for debate. According to the Coalition Against Insurance Fraud, “Beefing up Indiana’s …
Chicago-based Aon Corp. reported on Wednesday that it is exploring alternatives relating to its ownership of Swett & Crawford, the largest U.S.-based wholesale insurance broker with more than 900 employees in 40 offices. According to Aon Chairman and CEO Patrick …
The Executive Life Action Network, an activist group of former Executive Life Insurance Co. policyholders, called on California State Senator Jackie Speier, Chairperson of the Senate Insurance Committee, to investigate the reported $600 million settlement by Insurance Commissioner John Garamendi …
