Global insurance broker Marsh’s revenue in the second quarter of 2010 rose 9 percent to $1.2 billion from the same period in 2009. Revenue growth in international operations was 6 percent, reflecting 3 percent growth in Europe, the Middle East …
A.M. Best Co. has upgraded the issuer credit ratings (ICR) to “bbb+” from “bbb” and affirmed the financial strength rating of B++ (Good) of Florida Family Insurance Co. and Lakeview Insurance Co. A.M. Best said the outlook for all ratings …
Property/casualty insurance companies are reporting that the number of claims requiring more scrutiny than normal rose again in the first half of this year compared to 2009. The National Insurance Crime Bureau’s first half 2010 questionable claims (QC) report examines …
The Deepwater Horizon disaster in the Gulf of Mexico will not be a major event for the property/casualty insurance industry, but it may spur tightening of insurance terms and prices in the energy sector, according to global professional services company …
Mercury General Corp. reported it spent $12.1 million in the second quarter of 2010 supporting Proposition 17, a California ballot initiative that did not pass. Nevertheless, the Los Angeles-based insurer reported net income in the second quarter 2010 was $17.8 …
SeaBright Holdings Inc. reported a second quarter net loss of $15.5 million or $0.74 per basic and diluted share, primarily due to the recognition of adverse development of prior years’ loss reserves. This compares to net income of $4.3 million …
A global accounting standard setter proposed a new rule for measuring insurers’ profitability on Friday, aiming to shine a light on a sector criticised by investors for being a “black box” that keeps them in the dark. The International Accounting …
OneBeacon Insurance Group reported second quarter net income of $9 million, operating income of $18 million, a drop in written premiums reflecting the sale of its personal lines business and a jump in combined loss ratio due in part to …
Aon reported net income of $153 million in the second quarter 2010, compared to $149 million for the prior year quarter. Net income from continuing operations increased 22 percent to $179 million, compared to $147 million for the prior year …
Ohio-based Westfield Group has selected James R. Clay as its next group leader and chief executive officer. Clay currently serves as insurance leader and president. He has served the company for more than 30 years in numerous capacities. Clay will …
