Pennsylvania-based JC Stevens, a program underwriter specializing in cranes, has been acquired by Norman-Spencer for an undisclosed sum. “JC Stevens has a built a strong reputation as a quality underwriting and service organization,” said Brian Norman, vice-president of Ohio-based Norman-Spencer, …
The federal government wants to save taxpayers billions of dollars by reducing spending on crop insurance after years of big profits by insurers, but the industry claims the reductions could hurt rural areas. The U.S. Department of Agriculture is negotiating …
A spokeswoman says Michigan Gov. Jennifer Granholm is expected to sign legislation that would make it tougher for San Antonio-based Biglari Holdings Inc. to take over a west Michigan insurance company. The legislation given final approval on a 28-8 Senate …
U.S. regulators should clamp down on Wall Street innovation to prevent firms from creating “Frankenstein” financial products with no substantial value to the public at large, former New York attorney general Eliot Spitzer said on Wednesday. Spitzer, the former New …
The Geneva Association,* the most prominent global “think tank” for the insurance industry, has taken issue with the proposals from the International Monetary Fund to impose a “financial stability tax,” which would be levied on financial services companies, including insurers. …
Warren Buffett’s reputation as a stickler for good business ethics has put the billionaire in an awkward spot because of an investment in Goldman Sachs Group Inc. In Sept 2008, at the height of the financial crisis, Berkshire Hathaway Inc. …
The U.S. Coast Guard said Wednesday five times as much oil as previously estimated was leaking from a well beneath the site of a deadly drilling rig explosion as the slick threatened wide-scale coastal damage for four U.S. Gulf Coast …
A three-day U.S. Senate standoff over efforts to overhaul financial regulation ended on Wednesday as Republicans dropped efforts to block a Democratic bill in exchange for a handful of concessions. A deal to proceed came after Democrats threatened to keep …
Bermuda-based AXIS Capital Holdings Limited reported net income available to common shareholders of $112 million, or $0.79 per diluted common share for the first quarter of 2010, compared with net income of $116 million, or $0.78 per diluted common share, …
Bermuda-based RenaissanceRe Holdings reported net income available to common shareholders of $165.0 million or $2.73 per diluted common share in the first quarter of 2010, compared to $97.3 million or $1.57 per diluted common share for the first quarter of …
