Royal Bank of Scotland looks increasingly likely to shelve plans to sell its insurance arm and turn instead to other smaller deals to top up its capital. RBS announced plans to sell Britain’s largest car insurer in April. But the …
The Travelers Companies, Inc. reported net income of $942 million for the quarter ended June 30, 2008, compared to $1.254 billion for the quarter ended June 30, 2007. Operating income in the current quarter was $918 million compared to $1.167 …
Japan’s Tokio Marine Holdings, Inc. reported that it has agreed to acquire all outstanding shares of Philadelphia Consolidated, a U.S. property/casualty insurance company offering specialty commercial property and casualty insurance to targeted markets. The total transaction value is approximately $4.7 …
One of two federal government-sponsored forums in Midwestern cities to help businesses prepare for a major earthquake will be held in Evansville. The Federal Emergency Management Agency (FEMA) says the goal of the September program is to educate businesses about …
Residents along the Texas-Mexico border kept a watchful eye on Tropical Storm Dolly, stocking up on plywood, generators and flashlights as forecasters predicted the storm would strengthen into a hurricane by later today. Hurricane warnings were issued late Monday July …
A Democratic state senator from Iowa who represents an area hit hard by record flooding is suggesting the state grant a one-year hiatus in property tax collections to regions most affected by the disaster. “Some of the places that were …
The world’s largest insurance company, the one that always announces spectacular earnings, the company with the forceful views on how the market should function, has fallen off its pedestal. It not only has fallen, but also has tumbled down a …
Rhode Island Gov. Donald Carcieri has signed legislation approved by the General Assembly to strengthen the so-called “social host” law and address a number of other issues regarding underage drinking and driving. The major change in the law resulted from …
Westbrook, Connecticut-based Maritime General Agency has hired Sylvia Beckerman as chief operating officer. Beckerman’s responsibilities include daily oversight of all operational segments of MGA’s various business units including underwriting, broker services, processing, carrier relations and technology. She joins MGA with …
ING Group reported that it has closed the sale of part of its Mexican business, Seguros ING SA de CV and subsidiaries, to AXA. ING announced this divestment in February as part of its strategy to focus on its core …
