February 10, 2010
A.M. Best Co. reports it downgraded the financial strength rating to B (Fair) from B+ (Good) and issuer credit ratings to “bb” from “bbb-” of Oklahoma Farm Bureau Group and its members, Oklahoma Farm Bureau Mutual Insurance Company and AgSecurity …
February 10, 2010
Bermuda-based Armour Reinsurance Group Holdings Limited announced the appointment of Katherine Barker as President of its US subsidiary, Armour Risk Management Inc. and group vice president. Armour Risk is the group’s global insurance servicing arm. Barker has more than thirty …
February 10, 2010
A trade group for New York insurance agents says it will sue the state over newly issued rules that would force agents to reveal to clients how much they are paid. The Independent Insurance Agents and Brokers of New York …
February 10, 2010
MetLife Inc. plans to pay American International Group Inc. in stock and cash for American Life Insurance Co. (Alico), as the two sides negotiate what could be a roughly $15 billion deal, a source familiar with the matter said Tuesday. …
February 10, 2010
Toyota Motor Corp., the world’s most dominant and profitable automaker, was not accustomed to outsiders telling it what to do, let alone some obscure bureaucrat from the United States, whose own car industry was on taxpayer-funded life support. But in …
February 10, 2010
Former U.S. Treasury Secretary Henry Paulson and billionaire investor Warren Buffett, from different sides of the political spectrum, expressed support Tuesday for the U.S. government’s aggressive steps in 2008 to keep the nation’s banks and economy from a complete meltdown. …
February 10, 2010
Iroquois Southwest has hired Ed Budanauro as regional manager for New Mexico, Colorado and west Texas. Budanauro has more than 25 years of management and insurance consulting experience in the areas of sales management and agency operations. Prior to joining …
February 10, 2010
California Insurance Commissioner Steve Poizner, responding to a dramatic proposed rate hike by WellPoint’s California affiliate, Anthem Blue Cross, has called on WellPoint executives to postpone the rate increase, allowing the California Department of Insurance proper time for an independent …
February 10, 2010
Insurance broker Marsh countered a drop in revenues in the U.S. and Canada with higher revenues from Latin America and Asia Pacific markets. Marsh and its risk management partner, Guy Carpenter, managed a 13 percent profit increase in the fourth …
February 10, 2010
Mississippi officials have charged a Vicksburg man with arson involving 10 buildings and two vehicles. A joint investigation between the Mississippi State Fire Marshal’s Office, the Vicksburg Fire Department and the Vicksburg Police Department led to the arson arrest of …