Marsh & McLennan Companies Inc. posted a second quarter net loss of $193 million, attributable to the declining value of its security consulting business and private equity investments. Last year for the same quarter it had a $65 million profit. …
Skepticism over the financial condition of insurance companies is healthy and financially strong insurers stand to gain over weaker competitors in today’s market, an executive for a major property/casualty insurer told a group of underwriters. That message came with a …
The North Carolina Senate Commerce Committee today passed legislation (HB 1305) to rescue the state’s underfunded coastal insurer, the Beach Plan. The bill, which already passed the House, will now bypass the finance committee and go directly to the full …
Munich Re America announced that John Vasturia has been named president of the Regional Clients business unit. Vasturia will also continue serving as Head of Facultative Certificate, a position which he has held since April 2009. In addition to his …
Marsh & McLennan Cos. Inc. , the No. 2 global insurance broker, posted quarterly results in line with expectations on Wednesday and forecast improved profitability for its brokerage business, sending its shares up 4.3 percent. The company reported a second-quarter …
Swiss Re posted a surprise second-quarter net loss on Wednesday as charges on corporate bond hedges, securitized products and its own credit spreads ate up operating returns. Zurich-based Swiss Re said it made a net loss of 381 million Swiss …
First-quarter bank holding company (BHC) insurance brokerage income of $3.03 billion was up 15.0 percent from $2.63 billion in fourth quarter 2008, which marked the lowest point of quarterly insurance income since 2005, according to the Michael White-Prudential Bank Insurance …
A trade group for insurance companies says Delaware lawmakers will have a “full plate” of legislative insurance issues when they reconvene next year. Among the big issues, according to the Property Casualty Insurers Association of America (PCI): affiliate transfers, consumer …
Troubled insurer American International Group Inc. has chosen former MetLife chief Robert Benmosche as its new CEO, The Wall Street Journal reported, citing people familiar with the matter. The AIG board approved the choice Monday morning, the newspaper said on …
Los Angeles-based Mercury General Corp. has reported its results for the second quarter of 2009. Net income in the second quarter 2009 was $114.4 million compared with net income of $70.7 million for the same period in 2008. For the …
