Bermuda-based PartnerRe Ltd. announced that Patrick Thiele, the Company’s President and CEO, has decided to retire, effective December 31, 2010. He will also step down from the Company’s Board of Directors at that time. Thiele has held the position of …
Fairfax Financial Holdings Ltd. Chairman and CEO Prem Watsa warned that global stock markets are still subject to a lot of uncertainties. He told analysts during the company’s quarterly conference call Friday that the Toronto-based insurance and investment manager may …
Western National Insurance Group in Edina, Minn., reported $5.5 million increase in policyholder surplus during the first quarter of 2010 over the amount reported at the end of 2009, as well as a 4 percent rise in the company’s combined …
On the final day of this legislative session, Florida lawmakers passed omnibus legislation that aims to bring more control over homeowners insurance costs, raises the state’s minimum capital requirements for insurers, cracks down on errant public adjusters, allows insurers to …
Los Angeles-based Mercury General Corp. has reported net income in the first quarter of 2010 of $61.2 Million, $35.5 million less than the $96.7 million net income reported for the same quarter in 2009. Operating income for the first quarter …
The Arizona Legislature has approved a bill that to privatize the state workers’ compensation insurer as an Arizona mutual insurance company, beginning Jan. 1, 2013. The State Compensation Fund (SCF) was created in 1925 by the legislature to provide a …
Georgia lawmakers have voted to allow employers whose injured employees lost medical benefits when a major workers compensation carrier went under to buy into the state insolvency fund. Sponsored by Rep. Carl Rogers, R-Gainesville, who is an insurance agent, the …
In a ruling that’s being closely watched by some insurers, a Thurston County, Wash., judge has affirmed that the state insurance commissioner may hold an insurance company liable for the actions of the company’s appointed agent. “If you allow someone …
Warren Buffett Saturday launched a strong defense of Berkshire Hathaway Inc.’s $5 billion investment in Goldman Sachs Group Inc. and the investment bank’s embattled chief executive, Lloyd Blankfein. Speaking at Berkshire’s annual meeting before an estimated 40,000 shareholders, Buffett’s forceful …
Keystone Insurers Group (KIG) has added two more to its growing list of partner agencies. Jessie Insurance Agency of Campbellsville and Insurance Service Centers of Southeast Kentucky increase to 16 the number of KIG partners in Kentucky and join KIG’s …
