Florida’s state-backed homeowners insurer has reached into the private sector for its new president, selecting an experienced insurance executive and consultant. The Citizens Property Insurance Corp. board of governors yesterday unanimously selected Barry J. Gilway as president to lead the …
Keystone Insurers Group has added Brunswick, Ga.-based agency Turner & Associates Insurance as its second franchise partner in the state. The Turner & Associates joins a network of more than 235 partners in eight states. The announcement was made jointly …
Workers’ compensation, the largest commercial lines segment representing approximately 18 percent of commercial lines net written premiums in 2011, posted a statutory combined ratio of 117 percent in 2011, according to a new report by Fitch Ratings. This result is …
South Carolina Senate Banking and Insurance Committee Chairman David Thomas has lost his re-election bid for an eighth term. Thomas was in the toughest primary of any incumbent Tuesday, with four Republican opponents. He failed to capture enough votes for …
Until Florida creates an atmosphere of political and regulatory stability, and allows companies to turn a profit, the private market will remain reluctant to write homeowners in the state, said a panel of insurance executives. Speaking at the Florida Association …
“As companies continue to expand within the Asia Pacific region and beyond its borders, they are becoming increasingly exposed to risks such as Directors and Officer’s (D&O), Cyber and Professional Liability, in addition to threats stemming from mergers and acquisitions,” …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of the New Zealand-based Farmers’ Mutual Group (FMG) and FMG Insurance Limited (FMGIL). The outlook for all of the ratings is stable. …
“The insurance industry should move beyond traditional insurance solutions and start thinking of new ways to protect companies against the consequences of so-called Black Swan events, such as the Gulf oil spill or last year’s Japanese tsunami,” warned Phil Ellis, …
Southport Lane, a New York-based private equity firm, has acquired Redwood Reinsurance SPC, Ltd., a Cayman Islands-based reinsurer that provides treaty reinsurance for workers compensation and general liability insurance in the U.S. Terms of the transaction were not disclosed. Redwood …
Japan’s lower house is set to pass a bill on Friday to provide government guarantees on insurance for Iranian crude cargoes, making it the first of Iran’s big Asian buyers to find a way to keep the oil flowing in …
