Spain’s MAPFRE Group announced that its earnings for 2013 rose by 18.7 percent, to €790.5 million [$1.078 billion], while total revenues rose by 2.3 percent to €25.889 billion [$35.32 billion]. The earnings report also listed the following additional highlights: — …
Starkweather & Shepley Insurance Brokerage, one of the largest independent insurance agencies in the Northeast, recently celebrated the 135th anniversary of its founding.“This is an exciting time for the firm. It’s a real tribute to what we have accomplished. It’s …
Marsh & McLennan Cos. reported $303 million in net income for its 2013 fourth quarter, up 17 percent from $259 million posted during the prior-year fourth quarter. The full year 2013 net income was $1.4 billion, up nearly 17 percent …
The federal government has awarded New Jersey $26.3 million to enable it to buy 89 homes in flood-prone sections of Woodbridge. The state is in the process of buying homes from willing sellers affected by Superstorm Sandy to preserve the …
Florida’s Citizens Property Insurance Corp. reported that its policy count has dropped below one million for the first time since 2006. The state-backed insurer said that recent takeout efforts, legislative initiatives and an improving private market have pushed Citizens’ exposure …
At a recent public hearing, Massachusetts Attorney General Martha Coakley’s office expressed its opposition to the workers’ compensation average rate increase proposal and argued that the rate should be lowered instead. The Attorney General’s office expressed its view at the …
The Institutes have partnered with the Wisconsin School of Business at the University of Wisconsin-Madison to offer a leadership development program designed for managers and supervisors in the property/casualty insurance industry. This five-day interactive seminar will be held May 18 …
Chicago-based insurer CNA Financial Corp. plans to sell a wholly owned life insurance subsidiary to Wilton Re Holdings Ltd. for about $615 million as it continues to focus more on its property/casualty business. CNA said that the subsidiary it plans …
The Oklahoma tornadoes of May 2013 not only caused significant loss of life but also contributed to its designation last year as the costliest state for natural disaster related insurance payouts, according to the Insurance Information Institute (I.I.I.). “Oklahoma’s policyholders …
Hotchkiss Insurance Agency LLC (HIA) announced it has promoted Farrah Carlton to vice president of service. Carlton will lead client services initiatives and service management across all HIA offices. She previously held several positions at HIA, most recently serving as …
