The U.S. property/casualty industry’s profitability as measured by their rate of return on average policyholders’ surplus (or statutory net worth) increased by 5.8 percent in 2009, while private P/C insurers’ net income after taxes rose to $28.3 billion in 2009 …
Congress Thursday voted to restore jobless benefits for hundreds of thousands of Americans who had lost them during a partisan standoff in the Senate over spending. [The bill also reauthorizes the federal flood insurance program until the end of May …
Los Angeles-based Mercury General Corp. will release the results for its first quarter ended March 31, 2010 on May 3. The company will host an investor conference call and Web cast that same day at 10 a.m. PST to review …
Bermuda-based ACE Tempest Re Group has appointed Steve Roberts as managing director of its international business, which includes operations in London, Zurich, Sao Paulo and Shanghai. Roberts is currently the deputy managing director of the region. He will remain based …
Catastrophe bond issuance conditions saw sustained improvement in the first quarter of 2010, reflecting the increase in prominence of the insurance linked securities (ILS) asset class. Despite the continued improvement in market conditions, however, catastrophe bond issuance relative to the …
Former American International Group Inc. Chief Executive Maurice “Hank” Greenberg has asked a judge to dismiss a civil fraud lawsuit brought by New York’s attorney general, who is seeking to hold him personally liable for a sham reinsurance transaction. Greenberg …
Capacity returned in force to the global reinsurance market in 2009, as solid earnings helped to propel capital upward by 24 percent from the previous year, despite a softening market. Recovering from harsh blows delivered by the global financial crisis …
An insurance agent organization revealed a new brand identity — including a new logo and tagline. The AMS Users Group changed its name and is now known as the Network of Vertafore Users, or NetVU. NetVU revealed its new brand …
T. Hale Johnston, senior vice president and regional manager, Pacific Region, for Reno, Nev.-based Employers, has been re-elected as chairman of the board of directors of the California Workers’ Compensation Institute. CWCI is a private, nonprofit association that works to …
The Missouri Labor Department’s Division of Workers’ Compensation (DWC) fraud and noncompliance referrals to the state attorney general for workers’ compensation violations more than doubled in the first quarter of 2010 when compared to the same time period in 2009. …
