Allstate Corp. said Wednesday that first-quarter net income dropped 77 percent, hurt by write-downs in its investments and larger-than-expected catastrophe losses. The insurer said it had to write down the value of fixed-income securities by $347 million because of turmoil …
Hilb Rogal & Hobbs Company (NYSE:HRH) reported total revenues were up 4.4 percent for first quarter 2008 over the same period in 2007, but net income for the first quarter decreased 38.5 percent HRH reported that total revenues were $206.8 …
Marsh, Berry & Company Inc. has released an overview of the state of the insurance distribution system for 2008 and beyond. This research report documents historical and projected insurance agency/broker value, merger & acquisition activity, and organic growth best practices …
Royal Bank of Scotland’s insurance arm offers a once-in-a-lifetime opportunity for buyers to scoop up a key share of the UK market just as it begins to show signs of recovery, and suitors are already eyeing the unit. Financial pressures …
XL Capital Ltd. plans to release its first quarter 2008 financial results after the close of regular stock market trading hours on April 22. The company will host a conference call at 10 a.m. ET on April 23 to discuss …
Soft market’s effect on premium volume doesn’t have to hinder revenue Premium volume may be down for independent agencies across the country but that doesn’t mean agency revenue is down for some of the nation’s top performing agencies. Diversifying an …
$225 Texas Attorney General Greg Abbott has charged a Houston company with selling fake driver’s licenses to immigrants. The fraudulent licenses were marketed as “International Driver’s Licenses” and sold for $225 each. Harris County District Judge Grant Dorfman granted the …
Traffic crashes cost American motorists more than $160 billion a year while inflicting a staggering per-person toll on small cities such as Little Rock, Ark., Columbia, S.C., and Pensacola, Fla., according to an American Automobile Association (AAA) research report. The …
A.M. Best Co. has assigned a financial strength rating of ‘A-‘ (Excellent) and issuer credit ratings of “a-” to Indemnity Insurance of DC Group (IIDC) and its members, all with stable outlooks. These ratings also apply to Indemnity Insurance Corporation …
Oklahoma Attorney General Drew Edmondson and State Treasurer Scott Meacham said Oklahoma has received more than $85.1 million from the tobacco industry, 75 percent of which went directly into the Tobacco Settlement Endowment Trust Fund. This year’s payment was bolstered …
