Columbus, Ohio-based State Auto Financial Corp. announced preliminary estimates of losses due to second quarter 2010 catastrophe storm activity. The company expects second quarter 2010 results will include between $55 and $60 million in pre-tax catastrophe losses. STFC has averaged …
Worcester, Mass.-based The Hanover estimated its pre-tax losses resulting from catastrophe events in the second quarter of 2010 to be approximately $85 million. The majority of the losses were associated with six significant events, including two severe hail and wind …
A Manhattan federal judge Monday rejected Citigroup Inc.’s bid to dismiss a class-action lawsuit by bondholders who said the bank misled them about its exposure to “toxic” mortgages. U.S. District Judge Sidney Stein said the bondholders could pursue allegations that …
HR 3424 will be the subject of a hearing House by the House Representatives Ways and Means Committee today at 10:00 a.m. The Bill, sponsored by Rep. Richard E. Neal (D-MA), has been the subject of a lengthy debate [See …
The U.S. property/casualty industry earned a net profit for the first quarter 2010, partly due to the continued recovery in the financial markets. The first quarter 2010 rebounded from a net loss in the first three months of 2009. After-tax …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a+” of Vermont-based Iron Horse Insurance Company, both with stable outlooks. The ratings reflect Iron Horse’s “superior risk-adjusted capitalization, experienced management team and …
Allstate Insurance subsidiaries in Florida are seeking rate increases from 18 percent to 33 percent. Castle Key Insurance Co. has filed with the Florida Office of Insurance Regulation (OIR) to increase homeowners rates by an average of 33 percent. Castle …
Los Angeles, 13 July 2010. Joseph Peloso, Jr. has joined GJS Re in Chicago as Assistant Vice President effective July 6, 2010. Peloso is responsible for producing and placing specialty reinsurance products as well as structuring insurance programs on behalf …
Los Angeles-based Mercury General Corp. announced that on Monday, Aug. 2, 2010, it will release results for its second quarter ended June 30, 2010. The company will host an investor conference call and Web cast that same day at 10 …
The early appearance of Hurricane Alex, which hit Mexico and the Gulf coast of the U.S., was, according to experts at Swiss Re, “a relatively unusual occurrence in June and could signal a very active hurricane season.” Insured losses, caused …
