Prudential is facing the makings of a shareholder revolt over its $35.5 billion deal to buy AIA, raising the prospect the deal could fail and adding to pressure for a breakup of the British insurer instead. Prudential’s bid for AIA …
The Louisiana Senate has passed a measure that would ban against property insurers dropping or changing coverage for homes or businesses that contain Chinese-made drywall, which has been blamed for home corrosion and health concerns. The bill by Sen. Julie …
Arthur J. Gallagher & Co. reported that total brokerage and risk management revenue for the 2010 first quarter was $414.9 million compared to $401.7, for the 2009 first quarter. Brokerage revenue came in at $303.5 million for the first quarter …
In a response to reports that the International Monetary Fund (IMF) is planning a new levy on all financial institutions, not just banks, Kerrie Kelly, the Director General of the Association of British Insurers issued a stament opposing the initiative. …
British insurer Prudential will try to reassure investors it can seamlessly absorb the Asian arm of AIG next week when it publishes the prospectus for a record $21 billion cash call to fund the takeover. With shareholders broadly backing the …
An insurance company is balking at paying legal costs for a suburban Philadelphia school district accused of spying on students through laptop webcams. Meanwhile, a lawyer for a student suing the Lower Merion School District said the two sides met …
Cedar Rapids, Iowa-based insurance company United Fire & Casualty Co. reported a dip in premiums earned in the first quarter of 2010 compared with that in the same period in 2009, but total revenues and net income rose. In the …
The Washington Legislature has approved a bill that would shift $10 million from the state’s Office of Insurance Commissioner Regulatory Account to the State General Fund — a move that insurers oppose. Legislators decided in Senate Bill 6444 to shift …
Reno, Nev.-based Employers Holdings Inc., whose subsidiaries are specialty providers of workers’ compensation insurance focused on small businesses, will review the company’s first quarter 2010 financial results during a conference call and Web cast Thursday, May 6, 2010, at 10:30 …
Despite a sizable increase in catastrophe claims, New Jersey-based insurer Chubb saw first quarter profits climb 36 percent to $463 million, up from $341 million in the year-ago quarter. The impact of catastrophe claims for the quarter, which includes the …
