Travelers Cos. Inc. said on Thursday that second quarter earnings fell about 20 percent on lower investment income and underwriting profit. An increase in premium levels helped Travelers’ net policy sales keep pace with a year earlier, but the company …
Willis Group Holdings Limited (NYSE: WSH) reported the company’s total second quarter revenues were up by 19 percent, an increase due primarily to the HRH acquisition. Total reported revenues for the quarter ended June 30, 2009 were $784 million compared …
The U.S. House of Representatives passed the National Flood Insurance Program (NFIP) Extension Act of 2009, H.R. 3139, which extends the program until March 31, 2010. The NFIP is currently set to expire on September 30, 2009. Earlier this year, …
Bermuda-based Validus Holdings, Ltd. announced that Conan M. Ward has been appointed Chief Executive Officer of Validus’ wholly-owned subsidiary Validus Reinsurance, Ltd. and Kean D. Driscoll has been appointed Chief Underwriting Officer of Validus Re. Both men take up their …
Bermuda-based XL Capital Ltd. announced that its book value rose in the second quarter, lifting its stock as much as 3 percent, as unrealized losses on some assets narrowed. Net profit fell 66 percent on foreign exchange losses and lower …
Arthur J. Gallagher & Co. reported a slight drop in organic revenue of just 0.3 percent for the second quarter 2009 for its combined insurance brokerage and risk management units. For the quarter ending June 30, 2009, AJG reported $340.1 …
Democrats in the House pounced on a congressional budget analysis to bolster their plan for a government-run health insurance option Monday, as party leaders said they were closer to agreement on healthcare reform. The report by the nonpartisan Congressional Budget …
Bermuda-based PartnerRe Ltd. reported net income of $474.3 million, or $8.10 per share on a fully diluted basis for the second quarter of 2009. The bulletin said the figure “includes net after-tax realized and unrealized gains on investments of $279.6 …
OdysseyRe Holdings Corp. has appointed Lambert Morvan as Senior Vice President and Chief Agent, with responsibility for the management of OdysseyRe’s Canadian operations within the Americas Division. He will be based in Toronto. Morvan is a Fellow of the Casualty …
A large U.S. consumer group urged Congress Tuesday to clamp down on insurers’ risky practices after last year’s near collapse of AIG due to its foray into exotic derivative instruments. The Consumer Federation of America said Congress should consider prohibiting …
