Bermuda-based AXIS Capital Holdings Limited announced that Trident II, L.P. and related entities have agreed to sell 3,150,000 of AXIS Capital’s common shares in a block trade, plus any additional shares that may be sold upon exercise of the underwriter’s …
California Insurance Commissioner John Garamendi has announced that Gary Calcagno, 48, of Carlsbad, Calif., has been sentenced to three years probation and ordered to pay $13,460 restitution for stealing premiums from 20 clients. Calcagno’s sentencing resulted from an investigation led …
A.M. Best Co. announced that after completing an assessment of the U.S. and Bermuda reinsurance markets, it is extending its negative outlook for 2006. Best said it “anticipates that there will be few if any rating upgrades or positive rating …
Transatlantic Holdings, Inc.(TRH) reported that its net income for the year ended December 31, 2005 amounted to $37.9 million, or $0.57 per common share (diluted), compared to $254.6 million, or $3.85 per common share (diluted), in 2004. Net income for …
In a new addition to their offering – “Outsourcing in Insurance: Perspective 2006” – Dublin-based consultants Research and Markets concludes that, “despite recent strong results on both sides of the Atlantic, the majority of insurers continue to look to vendors …
ING Group, the Netherlands-based international banking, financial services and insurance company, posted strong results for 2005 with net profits up 25.3 percent to €7.21 billion ($8.56 billion). Other earnings highlights reported by the company included the following: — Earnings per …
GEICO has announced it will be hiring 100 people for positions in sales, service and claims in its Tucson, Ariz., operations center. The company plans to recruit entry-level associates, college graduates and experienced professionals to fill those spots at area …
A former SCI Chester Corrections Officer and former SEPTA employee waived his preliminary hearing Monday on charges that he repeatedly forged the signatures of his doctor and a SEPTA Employer Records Clerk, to illegally collect thousands of dollars on bogus …
G.J. Sullivan Co. has launched an online rating program for personal umbrella policies in California. This platform will allow the company’s agents to register and begin rating and binding business. This will also enable the company’s agents to access a …
CNA Financial Corporation reported fourth quarter of 2005 results, which included the following items: * Net loss for the fourth quarter of 2005 of $217 million as compared with net income of $303 million for the same period in 2004. …
