A task force appointed by Massachusetts Gov. Mitt Romney last spring has concluded that the state’s private passenger auto insurance system is heading for a crash and has promised to produce a legislative reform package by May 30 in time …
Capital One Insurance Services, formerly InsLogic, an insurance broker in Oak Ridge, Tenn. has put out a ‘Help Wanted’ sign and plans to triple its work force. Capital One Insurance was acquired in January by Capital One Financial Corp., and …
W. R. Berkley Corporation announced that its Board of Directors has approved a 3-for-2 common stock split to be paid in the form of a stock dividend to holders of record on March 24, 2005. The additional shares are expected …
Lloyd’s announced that it has reached a settlement agreement with the insurers involved in the arbitration proceedings relating to an insurance policy supporting its New Central Fund. The settlement amount is £152 million ($292.4 million), which includes amounts previously paid. …
Standard & Poor’s Ratings Services announced that it has developed criteria to detect finite reinsurance in the financial statements of insurance companies and adjust their earnings accordingly. S&P noted that in the extreme finite reinsurance is a “form of financial …
The Netherlands-based Eureko group announced record profits for 2004. Consolidated net income, which includes capital gains, rose to 1.153 billion euros ($1.54 billion), while net income excluding capital gains doubled to 486 million euros ($650 million) from 243 million euros …
Vesta Insurance Group Inc., of Birmingham, Ala. has announced it intends to file a Form 12b-25 with the Securities and Exchange Commission extending until April 1, 2005 the time to file its annual report on Form 10-K and audited financial …
Standard & Poor’s Ratings Services announced that it has clarified its approach to the Lloyd’s Market and the methodology it uses for rating the Market’s different components. In the just published report – “Credit FAQ: Lloyd’s–Identifying The Market’s Financial Strength” …
Bermuda’s Quanta Capital Holdings Ltd. reported that its net loss for the fourth quarter of 2004 was $14.4 million, or $0.25 per diluted share. This compares to a net loss of $37.4 million, or $0.66 per diluted share, for the …
Bermuda’s Aspen Insurance Holdings Limited announced the commencement of an offering of its ordinary shares by certain of its founding shareholders. The offering follows receipt of a registration request dated March 7, 2005. “The selling shareholders have informed Aspen that …
