Two men sentenced to federal prison for cheating investors out of more than $100 million in an insurance scheme have failed to convince an appeals court that they were unfairly convicted of mail fraud. The 11th U.S. Circuit Court of …
North Carolina’s top elected statewide officials remembered former colleague Jim Long at their regular monthly meeting Tuesday, calling the ex-insurance commissioner a friend who dedicated his career to the state. Long’s death Monday subdued what was otherwise a historic council …
State Farm Florida has lost hundreds of millions of dollars in the state in the last decade and risks insolvency if it continues writing property insurance here, company executives told a legislative committee this week. Jim Thompson, president of State …
Catlin Group Ltd., an international specialty property/casualty insurer and reinsurer, reported that W. Brown & Associates Insurance Services will underwrite general aviation insurance for clients nationwide on behalf of Catlin US. Among the types of general aviation coverages to be …
Standard & Poor’s Ratings Services has announced various ratings actions on several subsidiaries of the American International Group. “These actions follow AIG’s decision to revise or terminate guarantees,” explained credit analyst Rodney Clark. “The guarantees had provided the basis for …
A.M. Best Co. has commented that the financial strength rating of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of ING Canada Group (the Group) are unchanged following the announcement by ING Canada Inc. that its major shareholder, The …
In a report entitled “A Testing 2009 For The Irish Non-Life Insurance Market, Despite Fundamental Strengths,” Standard & Poor’s Ratings Services forecast a “difficult year ahead for the Irish non-life insurance market as a result of rising claims and continuing …
Willis Group Holdings announced the formation of Willis Global Placement, which it described as a “dedicated entity that will coordinate worldwide placement strategy for the benefit of Willis clients. The new entity, which draws together the company’s placement professionals around …
The Swiss Re Group announced that it expects to report a net loss for the full year 2008 of approximately CHF 1 billion ($862.5 million) for 2008, compared to net income of CHF 4.2 billion ($3.62 billion) in 2007. It …
Zurich Financial Services Group has announced net income after tax of $3 billion for 2008 as well as a CHF 11.00 ($9.48) gross dividend proposal and operating profits of $$5.2 billion. As detailed below, the figures show a general decline …
