Monthly Archives: <span>August 2005</span>

QBE Reports Record $375 Million 1st Half Profit

Australia’s QBE Insurance Group announced a record profit after tax of A$491 million (US$375 million) for the half year to 30 June 2005, an increase of 43 percent on the profit after tax of A$343 million (US$262 million) for the …

UPDATE: 160 Confirmed Dead in Venezuelan Air Crash

As the deadly series of plane crashes continued – 4 since Aug. 2 – rescue workers continued to comb the wreckage of the West Caribbean MD-82 that went down yesterday in Venezuela, near the Colombian border. All 152 passengers and …

Eureko Reports 39% Net Income Gain for 1st 6 Months to $415 Million

The Netherlands-based Eureko Group joined the parade of insurance companies that have enjoyed a good first half. The company announced a 39 percent increase in net income during the period to 338 million euros ($415 million) compared to 243 million …

S&P: Without Contingent Commissions, Some Insurance Brokers Still Cope

With the outlooks on Aon Corp. and Willis Group Holdings Ltd. — two of the world’s largest insurance brokers — having recently been revised to stable from negative, the industry is beginning to recover from the cloud it has been …

Trusted Choice Campaign Hits the Airwaves Again

Trusted Choice, the consumer marketing brand for the Independent Insurance Agents & Brokers of America, will again air television ads for a two week run next month, touting the benefits of using the association’s participating agencies and their branch locations. …

O’Dowd Elected President of PIANH

Professional Insurance Agents of New Hampshire Inc. elected its officers for 2005-2006 at its August 16 annual meeting. Thomas O’Dowd of Wolfeboro will serve as president. O’Dowd is president of the J. Clifton Avery Agency in Wolfeboro. O’Dowd served as …

John Hancock Life CEO Benson Retires

James M. Benson, president and chief executive officer of John Hancock Life Insurance Company in Boston, has elected to retire, Manulife President and Chief Executive Officer Dominic D’Alessandro announced. D’Alessandro also announced that John D. DesPrez III, 48, president and …

ITC Golf Tourney Set for Oct. 17

Insuring the Children has set the date of Oct. 17, 2005 for the Annual Golf Tournament. This year it will be held at the prestigious Santa Ana Country Club. For those golfers who haven’t played this course, this is a …

Margolis Joins Superior Access

Mike Mayo, president of Superior Access Insurance Services Inc., announced the new hire of Aaron D. Margolis as marketing representative at the Irvine headquarters. Margolis began his insurance career in 2000 at Geico Direct in the sales/service department. He also …

Best Upgrades ACE’s U.S. Subsidiaries

A.M. Best Co. has upgraded the financial strength ratings (FSR) to A+ (Superior) from A (Excellent) and assigned issuer credit ratings (ICR) of “aa-” to ACE Westchester Specialty Group (ACE Westchester) (lead company domiciled in New York) and ACE American …