Insurer Prudential said its failed bid for AIG’s Asian unit will cost less than first expected, and confirmed that the bungled takeover attempt has killed its appetite for big M&A deals. The bid for Hong Kong-based AIA will cost 377 …
Texas Insurance Commissioner Mike Geeslin has released a bulletin reminding auto insurance providers that it is against state law to “directly or indirectly limit the insurer’s coverage under a policy covering damage to a motor vehicle.” Specifically, the Texas Insurance …
Temperatures getting a little uncomfortable? Your artwork and antiques are probably feeling the humidity as much as you are. Paintings and works of art on paper expand and contract in response to changes in temperature and humidity, say experts with …
Hallmark Financial Services Inc., headquartered in Fort Worth, Texas, announced that its subsidiary, Hallmark Insurance Co., will acquire State Auto National Insurance Co. from Ohio-based State Auto Financial Corp. (STFC). The acquisition is subject to regulatory approval and other customary …
Fremont Michigan InsuraCorp Inc., a Michigan-exclusive property/casualty insurance carrier, reported revenues of $16 million for the second quarter ended June 30, 2010, an increase of 15.6 percent over the second quarter of 2009. Higher loss and loss adjustment expenses (LAE) …
United Insurance Holdings Corp., a property and casualty insurance holding company, today reported its financial results for the second quarter and for the six months ended June 30, 2010. For the second quarter, United returned to profitability from a loss …
Warren Buffett’s Berkshire Hathaway Inc. said Friday second-quarter profit fell 40 percent, as declining stock prices depressed the value of his derivative contracts. Operating profit nevertheless soared 73 percent, helped by the February takeover of railroad operator Burlington Northern Santa …
Net income doubled in 2009 over 2008 for a composite of 195 U.S. captive insurers followed by A.M. Best Co., driven by the recovery of the industry’s investments. Realized capital gains totaled $82 million for 2009, compared with $1.2 billion …
Keystone Insurers Group’s newest Ohio partner, Miller & Miller Inc., of Dover, has become the group’s 23rd agency in Ohio and one of 212 independent agencies in six states that comprise and own Keystone. Established in 1946, Miller & Miller …
A suspected militant strike on a Japanese-owned tanker illustrates how vulnerable merchant ships are to attack on the high seas with navies stretched fighting Somali piracy, analysts and shipping sources said on Friday. There have been growing concerns for maritime …
