J. Glenn Beall Jr., a prominent Republican officeholder and successful insurance agent, died at the age of 78. Beall served in the Maryland House of Delegates and the U.S. House of Representatives. In 1970, he was elected to the U.S. …
Tenn. Gov. Phil Bredesen said he won’t force his “Cover Tennessee” plan to cover the state’s uninsured on small businesses or individuals. If the one-in-10 state residents without health insurance are going to participate in the “Cover Tennessee” program, he …
Miss. Gov. Haley Barbour says $520 million in federal funds for Medicaid and other health care expenses means Mississippi should be able to pay its mounting Hurricane Katrina bills. U.S. Sen. Trent Lott, R-Miss., said Friday that the federal government …
“It takes two to tango,” as the saying goes, and Prudential (U.K.) apparently has no desire to dance with its larger rival Aviva Plc. It hastily rejected a £17 billion ($30 billion) offer a week ago (See IJ Website March …
A.M. Best Co. announced that it has affirmed the financial strength rating (FSR) of “A-” (Excellent) and the issuer credit rating (ICR) of “a-” of Lancashire Insurance Company. Concurrently, Best has affirmed the ICR of “bbb-” of Lancashire Holdings Limited …
A.M. Best Co. announced that it has downgraded the financial strength rating (FSR) to “B”- (Fair) from “B+” (Very Good) and the issuer credit rating to “bb-” from “bbb-” of Bermuda-based Olympus Reinsurance Company Ltd. It also has removed both …
Bermuda-based Max Re Capital Ltd. announced that the “Audit and Risk Management Committee of its Board of Directors has initiated, with the assistance of outside advisors, a review of three finite risk retrocessional contracts written in 2001 and 2003 to …
Italy’s Generali Group posted strong 2005 results with consolidated profits rising to €1.9186 billion ($2.3096 billion) up 15.2 percent from the €1.6658 billion ($2.005 billion) it earned ion 2004. Other highlights cited in the Groups earnings report included the following: …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) and assigned an issuer credit rating of “a-” to The Steamship Mutual Underwriting Association (Bermuda) Limited (Steamship or the Club). The outlook for both ratings …
Germany’s Hannover Re managed to eke out a small profit in 2005, despite over a billion dollars in hurricane losses, due to investment income. The company posted pretax profits of €48 million ($57.78 million) an 89.9 percent drop from the …
