A former Missouri tax preparer and insurance agent was sentenced in federal court for his role in a scheme that involved phony tax shelters. Donald Hicks, 72, was sentenced to five years of probation by U.S. District Judge Fernando Gaitan, …
The board of directors of ProCentury Corporation based in Columbus, Ohio, has approved a cash dividend of two cents per share, payable on Sept. 21, 2005 to shareholders of record on Aug. 31, 2005. ProCentury Corporation is a specialty property …
Cincinnati Financial Corporation’a board of directors has authorized a new repurchase program effective Sept. 1, 2005, for up to 10 million shares of the company’s 175 million outstanding shares. Under the plan, management can purchase shares at reasonable prices, typically …
Insurance Australia Group Limited (IAG) announced a net profit after tax of A$760 million (US$571 million) for its fiscal year ended 30 June 2005, a 14.3 percent rise over the A$665 million (US$500 million) it earned in fiscal 2004. The …
Bermuda-based AXIS Capital Holdings Limited announced that Marsh & McLennan Risk Capital Holdings, Ltd. (Marsh Risk Capital), a subsidiary of Marsh & McLennan Companies, Inc., has agreed to sell 1.85 million of AXIS Capital’s common shares in a block trade. …
A.M. Best Co. has commented that all ratings of the Swiss-based Zurich Financial Services Group (ZFS) “remain unchanged following the announcement of the 2005 half-year results,” (See IJ Website Aug. 19). Best said the earnings were In line with its …
Standard & Poor’s Ratings Services announced that it has assigned its “BBB+” long-term counterparty credit and insurer financial strength ratings to Bahrain-based insurer Bahrain National Insurance Co. BSC (BNI) with a stable outlook. “The ratings reflect BNI’s strong capitalization and …
Owners and employees of First Spine and Rehab, a Lowell Mass. chiropractic clinic, have been named as defendants in a $1.8 million fraud lawsuit — the result of a six-month investigation led by Encompass Insurance Company of Massachusetts, a diviion …
The number of tort trials concluded in U.S. district courts declined by nearly 80 percent – from 3,600 trials in 1985 to fewer than 800 trials in 2003, the Department of Justice’s Bureau of Justice Statistics (BJS) reported. Approximately nine …
Lawyers for Pope Benedict XVI have asked U.S. President George W. Bush to declare the pontiff immune from liability in a lawsuit that accuses him of conspiring to cover up the molestation of three boys by a seminarian in Texas, …
