The New York State Department of Financial Services has launched a wide-ranging probe of the accuracy of the data used by insurers and health maintenance organizations (HMOs) to request health insurance rate increases. “At a time when spiraling health insurance …
Hedge fund manager John Paulson — who currently holds a 8.4 percent stake in The Hartford — filed a letter yesterday to the board of The Hartford with the Securities and Exchange Commission. In the letter, the billionaire investor made …
Marsh & McLennan Companies reported $256 million for its 2011 fourth-quarter net profit, up 26.1 percent from one year ago when it posted $203 million profit. For the 2011 full year, Marsh & McLennan posted net income of $993 million, …
The Hartford Financial Services Group’s biggest stakeholder is not happy with its stock price and wants The Hartford CEO Liam McGee to do “something drastic,” including splitting up the company’s life insurance and P/C businesses. Speaking at the company’s earnings …
Consumers know what their premium costs every month, but not everyone really knows exactly what their homeowner or renter policy covers. To help consumers be well prepared before they have to make a claim, Connecticut Insurance Commissioner Thomas Leonardi unveiled …
The Pennsylvania Insurance Department Commissioner Michael Consedine announced last week that the Commonwealth Court has approved the department’s petition to liquidate First Sealord Surety Insurance. First Sealord, a bond and surety company based in Villanova, Penn., had experienced a steep …
The Hanover Insurance Group, based in Worcester, Mass., reported $49.3 million for its 2011 fourth-quarter net income, down 15.6 percent from one year ago when the insurer posted $58.4 million profit. For the 2011 full year, Hanover posted net income …
Hartford Financial Services Group reported $127 million for its 2011 fourth-quarter net income, down 79 percent from one year ago when the company posted $619 million profit. Results were hurt by higher net capital losses and current and prior-year reserve …
Selective Insurance Group, based in Branchville, New Jersey, reported $16.1 million for its 2011 fourth-quarter net income, down 32 percent from one year ago when the insurer posted $23.8 million profit. For the 2011 full year, Selective posted net income …
Alleghany Corp. said its stockholders voted on Monday to approve the previously announced merger agreement with Transatlantic Holdings. Under the deal, as described in the merger agreement between Alleghany and Transatlantic last November, Transatlantic will be acquired and become an …
