Georgia’s Insurance Commissioner John Oxendine has fined a Georgia industrial loan company with branch offices in Cornelia and Gainesville $100,000 for overcharging customers in various financial transactions. Among the violations that examiners found during a financial exam of the firm: …
The Bermuda-based Everest Re Group, Ltd. reported fourth quarter 2004 after-tax operating income – which excludes realized capital gains and losses – of $94.7 million, or $1.66 per diluted share, a 20.2 percent decrease compared to $118.6 million, or $2.09 …
Sweden’s Skandia Insurance Company Ltd. announced that it has reached a settlement agreement with its former Chairman, Lars Ramqvist, in a dispute over actions he and other board members took in 2000-01. Under the terms of the agreement, Ramqvist has …
Bermuda-based IPC Holdings, Ltd. announced that its fourth quarter, 2004 results will be adversely impacted by catastrophe losses, arising primarily from revised estimates with respect to the third quarter Florida hurricanes and Pacific typhoons. “Based upon our analysis which has …
A.M. Best Co.’s special report on the P/C industry features a tried-and-true warning: “Expect the best, plan for the worst, and prepare to be surprised,” which it points out is “sage advice for an industry that bases its business on …
AAA Texas County Mutual Insurance Company, the insurance affiliate for AAA Texas, has filed for an 8.7 percent average automobile insurance rate reduction effective today for new business and March 14 for renewing policyholders. The rate reduction should save AAA …
Seattle-based SeaBright Insurance Holdings Inc. announced that it has completed its initial public offering of 7,500,000 shares of common stock at $10.50 per share, all of which were offered by the Company. SeaBright also announced that the underwriters have exercised …
On Jan. 25, 2005, the Fremont General Corporation’s motions to dismiss the lawsuit brought by the State of California Insurance Commissioner on behalf of Fremont Indemnity Company against Fremont General were argued and heard before the Superior Court of the …
