Wells Fargo & Co.’s Rural Community Insurance Co. is now the largest writer of multiple peril crop insurance after picking up five percentage points of market share in 2013 to surpass ACE Ltd., according to a report by SNL Financial. …
The Florida Supreme Court has declined to review the state’s no-fault automobile insurance personal injury protection (PIP) reforms that were designed to lower the cost of the coverage by targeting fraud and restricting emergency medical services. Parts of the 2012 …
Travelers Companies Inc. reported a 17 percent rise in first-quarter profit, helped by higher underwriting gains and an increase in net investment income. Net income rose to $1.05 billion for the quarter ended March 31, from $896 million a year …
Former U.S. senator and Democratic presidential hopeful John Edwards has returned to the courtroom to help represent a 4-year-old Virginia boy in a medical malpractice case in North Carolina. Edwards is one of three attorneys representing the parents and guardians …
Great American Insurance Group said its Alternative Markets Division has hired Tom Colosi as divisional vice president, Group Captives. In this role with Great American, Colosi will lead the company’s existing group captive operation. Colosi joins Great American from Sparta …
A plan in the new U.S. farm law to help dairy farmers limit losses from rising feed costs or falling milk prices may become a model in coming years for livestock producers who have resisted similar types of insurance. The …
Zurich-based Echo Reinsurance Ltd., wholly owned subsidiary of German mutual insurance group DEVK, announced that it will target writing treaty reinsurance from Latin America in order to further enhance and diversify its portfolio. Echo Re also noted that it has …
Sanlam Emerging Markets, a unit of South African insurance company Sanlam Ltd., said it’s buying 51 percent of Malaysia’s MCIS Zurich Insurance Berhad for about 1.25 billion rand ($118.4 million). Sanlam will first buy a 40 percent stake in MCIS …
Collective trusts that insurers are allowed to invest in are confined to those backed by financing assets and non-listed equity assets, according to draft rules posted on the website of China Insurance Regulatory Commission [CIRC]. Collective trusts backed by fixed-income …
Genworth Financial Inc. plans to raise as much as $700 million by selling a minority stake in its Australian mortgage guarantor, in what may be the biggest share sale in the country for more than three years. The seller of …
