The National Association of Mutual Insurance Companies sent a letter to the North Carolina House Insurance Committee opposing Senate Bill 319, a bill that would amend provisions of the state’s self-insurance guaranty association. SB 319 has already passed the state …
Germany’s Allianz announced impressive results for the second quarter of 2005 with gross revenues up 6.6 percent from 22.2 billion euros ($27.4 billion) to 23.7 billion euros ($29.3 billion). Operating profits increased by 18.8 percent from 2.00 billion euros ($2.47 …
Standard & Poor’s Ratings Services announced that it has affirmed its “BBB” counterparty credit and financial strength ratings on Fairfax Financial Holdings Ltd.’s (FFH) ongoing operating insurance companies (collectively, Fairfax). S&P also said it has affirmed its ‘BB’ counterparty credit …
Standard & Poor’s Ratings Services announced that it has raised its long-term counterparty credit and insurer financial strength ratings on Italy-based composite insurer Lloyd Adriatico SpA (LA) to “AA-” from “A+”, with a stable outlook. S&P said the upgrade reflects …
Bermuda-based AXIS Capital Holdings Limited announced that JPMorgan Partners, a private equity affiliate of JP Morgan Chase & Co., and related entities, have agreed to sell approximately 7.8 million of AXIS Capital’s common shares in a block trade. Axis said …
Standard & Poor’s Ratings Services announced that it has assigned its ‘BBB’ long-term counterparty credit and insurer financial strength ratings to Jordan-based insurer International General Insurance Co. Ltd. Jordan (IGI) with a stable outlook. “The ratings reflect IGI’s strong capitalization, …
Frankie Louis Alston and Darin Antonio Mason have been indicted in connection with an alleged auto insurance fraud ring in Siler City, N.C. that filed at least 480 bogus auto crash claims in Chatham and Randolph counties since 1992. Insurance …
Proclaiming the Bureau of Workers’ Compensation’s (BWC’s) financial reporting process “robust,” Ennis Knupp recently confirmed the value of Ohio’s State Insurance Fund’s marketable securities is approximately $14 billion as of May 31, 2005. Ennis Knupp’s findings were within 0.01 percent …
American International Group Inc. (AIG) has filed its Quarterly Report on Form 10-Q for the period ending June 30, 2005 with the Securities and Exchange Commission. Additionally, AIG filed a Form 10-Q/A restating the second quarter and the first six …
Ohio-based ProCentury Corporation, a specialty property and casualty insurance holding company, announced financial results for the three and six months ended June 30, 2005. Highlights from the second quarter of 2005 include the following: * Net income per diluted share …
