Berkshire Insurance Group, Inc., a wholly-owned subsidiary of Berkshire Hills Bancorp, Inc. in Pittsfield, Mass., has acquired the business and assets of each of MacDonald & Johnson, Inc., a full-service property and casualty insurance agency located in East Longmeadow, Mass. …
XL Capital Ltd. will officially announce its third quarter results on Monday, Oct. 31, but it has already indicated in a preliminary announcement that it expects to report an impressive $1.47 billion in net losses for the period, and an …
Bermuda’s largest insurer, ACE Limited, did a bit better than its counterpart in the third quarter (See previous article), reporting a net loss of “only” $112 million or $(0.43) per common share after payment of preferred dividends, compared with net …
Standard & Poor’s Ratings Services announced that it has affirmed its “A” counterparty credit rating on Bermuda-based reinsurer PartnerRe Ltd. (PRE). S&P also affirmed its “AA-” counterparty credit and financial strength ratings on PRE’s operating reinsurance subsidiaries Partner Reinsurance Co. …
Bermuda-based Endurance Specialty Holdings Ltd. reported a net loss of $377 million or $6.26 per diluted share for the third quarter of 2005 versus net income of $26.8 million or $0.40 per diluted share in the third quarter of 2004. …
Standard & Poor’s Ratings Services announced that its “BBB+” counterparty credit rating on IPC Holdings Ltd. (IPCR), and its “BBB-” preliminary preferred stock rating on IPCR’s recently filed $1.25 billion universal shelf, “would remain on CreditWatch with negative implications where …
Standard & Poor’s Ratings Services has issued a new, and quite positive, report – “Top 50 Latin American Insurers Show Improving Fundamentals.” The rating agency cited “the growing economies, increased number of countries with single-digit inflation rates, low interest rate …
Standard & Poor’s Ratings Services announced that it has assigned its “B+” long-term counterparty credit and insurer financial strength ratings to Russia-based reinsurer RESO-Re. S&P also assigned its “ruA+” Russia national scale rating to the company. The outlook is positive. …
The Standard Personal Lines Advisory Committee will hold its next meeting Friday, Oct. 28, at the Capitol in Tallahassee, Fla. The committee will meet in Room 110 of the Senate Office Building from 10 a.m. to 5 p.m. State lawmakers …
It has been nearly two months since Hurricane Katrina ravaged Louisiana, Mississippi, Alabama and Florida. While the pictures on television showed the great destruction, Insurance Journal wanted to get to the heart of the matter. Are independent agents and claims …
