Zurich Financial Services reported that its first quarter net income decreased by 75 percent to $362 million, compared to the $1.427 billion it earned in the same quarter of 2008. Business operating profit fell by 40 percent to, $1.061 billion …
The Bermuda-based Argo Group International Holdings announced that its net income for the first quarter of 2009 was “$27.0 million or $0.88 per diluted share, which includes $11.8 million of net pre-tax realized investment losses and other than temporary impairment …
Swiss Re reported a net profit of CHF 150 million ($131.6 million) in the first quarter of 2009, compared to CHF 0.6 billion ($527 million) for the same period last year. Earnings per share declined to CHF 0.45 (39.5 cents). …
Risk Management Solutions has completed the expert modeling analysis in connection with the securities offering undertaken by Ibis Re Ltd., a special purpose reinsurance company domiciled in the Cayman Islands. “The securities offering is intended to finance a separate reinsurance …
The California Department of Insurance has released its 2008 operational review of the State Compensation Insurance Fund. In response to the report’s findings, Insurance Commissioner Steve Poizner said more issues must be resolved, and that SCIF needs to “move expeditiously” …
A wildfire that began on May 5 in Santa Barbara County, Calif., continues to burn. The County of Santa Barbara declared a local emergency due to the fire and Gov. Arnold Schwarzenegger declared a state of emergency, meanwhile reminding Californianas …
U.S. Health and Human Services Secretary Kathleen Sebelius Wednesday said a proposed government health insurance plan backed by President Barack Obama would compete with private insurers rather than lead to a socialized system as Republicans claim. In her first appearance …
Federal prosecutors have charged four Providence, Rhode Island residents with identity theft for allegedly making more than $500,000 worth of purchases after obtaining credit cards with the stolen personal information of more than 50 victims. A 32-count indictment unsealed Wednesday …
Most of Florida’s smaller domestic property insurers have initiated backup financing plans in the event the state-backed hurricane fund can’t meet its obligations right after a major storm hits. Insurance Journal Audio Demotech on Florida Property Insurance: An interview with …
American International Group Inc. is expected to post a first-quarter net loss of about $5 billion, smaller than its year-ago loss and much lower than the record hit it took last quarter, a source familiar with the matter said Wednesday. …
