American International Group Inc. sold $9.6 billion worth of MetLife Inc. shares on Wednesday, producing gross proceeds of about $6.3 billion to accelerate its payback of U.S. Treasury bailout funds. AIG and the Treasury said a total of 146.8 million …
State Farm reported $1.8 billion in after-tax net income in 2010, compared with $800 million in 2009. The improvement “was driven by the P-C companies’ improved results,” said the bulletin, which also explained that the “P-C companies reported a $3.1 …
American International Group sold $9.6 billion worth of MetLife Inc shares on Wednesday, producing gross proceeds of about $6.3 billion to accelerate its payback of U.S. Treasury bailout funds. AIG and the Treasury said a total of 146.8 million shares …
Maritime General Agency announced its newly formed business identity, which it said “combines three niche marine insurance underwriting facilities: Maritime Program Group; Maritime General Agency, Marine MGA, and Windward Marine Underwriters – into one powerful managing general agency.” The bulletin …
A.M. Best’s London office announced that it “has begun to assess the financial impact of the Feb. 22, 2011 Christchurch earthquake on New Zealand’s non-life insurance industry, and it expects capital erosion will result in some local company ratings being …
Specialist insurer Markel International has appointed Nick James to its specialty division as a class underwriter in US and Canada property treaty reinsurance. He will work alongside Robin Ungless and Nick Hillman in London. James has over 14 years’ experience …
Bermuda-based Tokio Millennium Re Ltd. (TMR), a subsidiary of Japan’s Tokio Marine & Nichido Fire Insurance Co., Ltd., announced that the Australian Prudential Regulation Authority (APRA) has authorized TMR’s Australian branch to carry on insurance business in the country. Tokio …
The Lloyd’s Market Association has issued the following statement concerning the wave of political protest and demonstration that have been unfolding in the Middle East and North Africa: “Clearly there has been considerable property damage as a result of the …
UK-based international broker JLT Group announced that it has established JLT Holdings Japan “through an equity transfer arrangement.” JLT said the “new holding company structure, insurance agency operations will be conducted by JLT Risk Services Japan (formerly Jardine Lloyd Thompson …
The Tennessee Legislature is considering a number of changes to its workers’ compensation law that are designed to tighten the standards injured workers must meet to qualify for workers’ compensation benefits. In an effort to reduce workers’ compensation costs, business …
