American International Group Inc. is expected to post a first-quarter loss Thursday, but the insurer’s results will not trigger a new capital injection from the U.S. government, a source familiar with the matter said Monday. The loss in the first …
Billionaire Warren Buffett on Sunday criticized some life insurers for taking on “crazy” financial risks by selling variable annuities, or retirement products that promised unrealistic guarantees to buyers. The products are tied to stock market performance and in some cases …
A group of 25 lawyers from seven Boston-area firms have formed the Massachusetts Reinsurance Bar Association (MReBA), a group the members say is a first-of-its-kind group focused on reinsurance law. William N. Erickson of law firm Robins, Kaplan, Miller & …
The Indiana General Assembly has passed House Enrolled Act (HEA) 1246, which removes a provision in Indiana law requiring insurance companies to re-rate an insurance policy at least once every three years based on current credit information, according to the …
Florida Gov. Charlie Crist has a bill on his desk that promises to clarify the state’s regulation of the surplus lines insurance business. The Florida Senate on May 1 joined in the House in passing the measure lobbied for by …
The Texas Senate approved a new structure for the state’s depleted windstorm insurance fund last week, providing a combination of potential rate hikes, bonding and other revenue to ensure the account gets replenished. Gulf Coast policy holders of the Texas …
A year-long investigation by the Maryland Insurance Administration has found that 67 of the state’s 119 car insurers underpaid claims, Commissioner Ralph S. Tyler said. State regulators have fined the companies a collective $235,000 and ordered an additional $442,590 in …
Fairfax Financial Holdings Ltd. said Thursday that it had a net loss in the first quarter as investments shed value in volatile markets. [Amounts are in U.S. $, unless otherwise indicated]. The Toronto-based insurance holding company said it had a …
The Bermuda-based Everest Re Group reported first quarter 2009 after-tax operating income, which excludes realized capital gains and losses and gain on debt repurchase, of $106.1 million, or $1.73 per diluted share, compared to after-tax operating income of $190.6 million, …
Bermuda’s RenaissanceRe Holdings reported that its net income available to common shareholders in the first quarter of 2009 fell to $97.3 Million, or $1.57 per common share, compared to net income available to common shareholders of $137.2 million or $2.05 …
