Eastern Insurance Holdings, Inc., based in Lancaster, Pa., reported net income of $2.6 million for the first quarter of 2008, compared to net income of $3.2 million for the same period in 2007. The company said highlights for the first …
Myanmar’s (Burma’s) isolationist military regime gave the go-ahead for the first major airlift of international aid into the country Thursday, while dragging its feet on urgently requested visas by foreign agencies several days after a devastating cyclone. Myanmar’s state media …
Bermuda-based CastlePoint Holdings, Ltd. reported net income of $9.565 million and basic and diluted earnings per share of $0.25 for the first quarter of 2008. Operating earnings, which exclude capital gains/losses, for the period were $11 million and $0.29 per …
American International Group’s whopping $7.81 billion first quarter loss (See related article) brought an immediate reaction from Standard & Poor’s Ratings Services. S&P has lowered its counterparty credit ratings on AIG, and several of its subsidiaries with ratings that are …
AIR Worldwide has released an analysis of a strong earthquake that struck just off the Japanese island of Honshu on Wednesday. The trembler rattled buildings in downtown Tokyo and briefly cut power to thousands of residents 48 kilometers to Tokyo’s …
The “Marsh Power Forum” in Paris this week identified potential insurance problems for the industry. Marsh noted that “the combination of rising demand and insured costs in Europe’s electricity sector could risk leaving power utilities firms underinsured.” Gordon Springett, Leader …
Dresdner Bank stayed in the red in the first quarter after writing down €845 million ($1.3 billion) on structured finance investments, keeping it in the spotlight as parent Allianz works to split it in two. Dresdner posted a quarterly operating …
Colorado Governor Bill Ritter has signed a bill that will allow the state Department of Regulatory Agencies (DORA), and its Division of Insurance the legal authority to demand that insurance companies or agents compensate customers fully when they have been …
Duane Morris LLP announced that Max Stern and Peter Whalen, partners in its Trial Practice Group in San Francisco, have been named to jointly lead the Insurance and Reinsurance Industry Group for the international firm. Stern is a trial and …
Reflecting the general upward trends in the cost of property and liability insurance claims, State Farm General Insurance Co. has filed a request for an average statewide 6.9 percent rate increase with the California Department of Insurance. The rate filing …
