Marsh & McLennan Inc. posted a drop in second-quarter earnings on Wednesday, hurt by a $115 million write-down of goodwill for its risk consulting and technology division. Net income fell 63 percent to $65 million, or 13 cents a share, …
The Hanover Insurance Group will acquire Windsor, Connecticut-based specialty insurer AIX Holdings Inc., in a move designed to bolster The Hanover’s product and service capabilities for its agents, the company said. “We are very pleased to add AIX Holdings to …
The Board of Directors of Birmingham, Alabama-based ProAssurance Corp. authorized $100 million to repurchase its shares or retire outstanding debt. The authorization is effective immediately, but the timing and quantity of any purchases will depend on market conditions and changes …
A.M. Best Co. has assigned a financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” to Florida-based ASI Preferred Insurance Corporation, following the inclusion of the company in the American Strategic Insurance Group (ASI Group). …
Tropical Storm Edouard hit the Texas Gulf coast east of Galveston Aug. 5 with strong winds and heavy rain, but did little more than soak the travelers who came to relax on the tourist town’s beaches. The National Hurricane Center …
Evacuate Wrigley Field and O’Hare Airport because of a summer storm? Unbelievable. Tornado sirens screeching within Chicago city limits–unheard of. Ninety thousand lightening strikes reported by the Chicago Tribune during the peak of this storm? Unprecedented. Chicago and surrounding suburbs, …
Greg Galloway has joined Kansas City-based insurance wholesaler Westrope as a property broker in its Dallas office. Most recently, he was the business development manager for Zurich. Galloway also has 10 years of underwriting experience with St. Paul. Westrope is …
Louisiana Citizens Property Insurance Corp. policyholders won’t see planned rate increases for at least two months because the agency can’t get a quorum on its board to approve the measure. Premiums had been scheduled to start going up in October …
Richardson, Texas-based America First Insurance, a Liberty Mutual Agency Markets regional company, announced it has opened a regional office in Oklahoma City. With approximately $70 million in combined personal and commercial lines premium in Oklahoma, the company’s new office at …
South Carolina Gov. Mark Sanford backed away from efforts to force the state Workers’ Compensation Commission to accept new injury payment standards, accepting a settlement agreement that would end months of legal wrangling if South Carolina’s highest court approves the …
