U.S. Health and Human Services Secretary Kathleen Sebelius Wednesday said a proposed government health insurance plan backed by President Barack Obama would compete with private insurers rather than lead to a socialized system as Republicans claim. In her first appearance …
Risk Management Solutions has completed the expert modeling analysis in connection with the securities offering undertaken by Ibis Re Ltd., a special purpose reinsurance company domiciled in the Cayman Islands. “The securities offering is intended to finance a separate reinsurance …
Munich Re announced first quarter 2009 profits of €420 million ($560 million), compared to €777 million ($1.035 billion) in the same period of 2008. However, the Group’s bulletin forecast premium increases in 2009. CFO Jörg Schneider stated: “In view of …
Bermuda-based Validus Holdings reported net income of $94.9 million, or $1.20 per diluted common share for the quarter ended March 31, 2009, compared with net income of $66.5 million, or $0.85 per diluted common share, for the quarter ended March …
The New York State Insurance Department has sent a reminder to all car insurers in the state that an admittedly confusing new law requires carriers to collect a $10 annual fee for each policyholder — at least for now. The …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and the issuer credit rating (ICR) of “a-” of Torus Specialty Insurance Company, formerly known as Praetorian Specialty Insurance Company, and has assigned a stable outlook for …
The Bermuda-based Max Capital Group reported net income for the three months ended March 31, 2009 of $44.5 million, or $0.78 per diluted share, compared to net income of $7.7 million, or $0.13 per diluted share, for the three months …
The Insurance Council of Texas (ICT) announced it has joined with the Texas Auto Burglary and Theft Prevention Authority in a crime prevention campaign aimed at preventing auto thefts and auto burglaries in southeast Texas. The program involves the funding …
Marsh & McLennan Cos Inc., the second-largest global insurance broker, posted a first-quarter profit on Wednesday, reversing a year-earlier loss, as lower costs helped offset a decline in revenue. Chief Executive Brian Duperreault said he expects revenue in the main …
American International Group Inc. is expected to post a first-quarter net loss of about $5 billion, smaller than its year-ago loss and much lower than the record hit it took last quarter, a source familiar with the matter said Wednesday. …
