Munich Re, the world’s biggest reinsurer, plans to buy back €1 billion ($1.352 billion) of its shares as third-quarter profit dropped 44 percent. Net income dropped to €637 million [$861.2 million] from €1.13 billion [$1.528 billion] a year earlier, the …
Assicurazioni Generali SpA, Italy’s biggest insurer, said third-quarter profit rose 75 percent as it earned more from its life segment and property and casualty operations. Net income rose to €510 million ($690 million) from €291 million [$393.4 million] a year …
Swiss Re Ltd., the world’s second- biggest reinsurer, reported better than expected third-quarter profit after non-life premiums rose by a fifth. Net income fell 51 percent to $1.07 billion from a year ago, the Zurich-based reinsurer said in a statement …
Springfield, Ill.-based Horace Mann Educators Corp. has named Stephen P. Cardinal to lead its property/casualty business as executive vice president, effective immediately. Cardinal succeeds Thomas C. Wilkinson, who will retire at the end of the year. Cardinal will be responsible …
Columbus, Ohio-based Nationwide Insurance announced that the company is looking to add 100 new Advantage Program insurance agents in the Dallas, Fort Worth, Austin and San Antonio, Texas markets. Nationwide Insurance Advantage Program agents will serve as independent contractor exclusive …
While generally not a material drag on the U.S. property/casualty industry’s earnings, industry losses from asbestos and environmental (A&E) claims resumed an upward climb in 2012, according to a new A.M. Best Co. report. The report said annual incurred A&E …
MJ Insurance named Lauren Gerig to its property/casualty department in the Phoneix, Ariz. Office. Gerig will work to service new and existing clients. Gerig joins MJ Insurance from WebPT, a company that provides web-based physical therapy software, where she served …
West Virginia Department of Agriculture issued an insurance reminder for the state’s fruit producers, citing USDA Risk Management Agency’s announcement that the final date for West Virginia apple and peach growers to obtain crop insurance on next year’s crop is …
Birmingham, Ala.-based Regions Insurance, an affiliate of Regions Bank, said it entered into an agreement with The Hanback Group in Nashville, Tenn., to obtain the firm’s personnel and accounts. Financial terms of the agreement are not disclosed. Regions Insurance said …
Florida lawmakers are taking another hard look at the future of the state’s no-fault automobile insurance law in light of a circuit court ruling that left opened the door to legal challenges over the constitutionality of the law. The state’s …
