No. 4 on IJ’s Top 100, Keystone Insurers Group’s cooperative approach now thrives in five states Top 100 Agency Profile RANKING: No. 4 Keystone Insurers Group Headquarters: Northumberland, Pa. Year Founded: 1983 Additional Locations: 204 locations 2006 Premium Volume: Total: …
Germany’s Allianz SE has released its official earnings report for 2007, which shows some declines from the preliminary earnings announcement it released last month (See IJ web site – https://www.insurancejournal.com/news/international/2008/01/25/86706.htm). Net income for the fourth quarter of 2007 fell 51.5 …
Platinum Underwriters Holdings, Ltd. refused to follow the current earnings report script – declines in the fourth quarter, increases for the full year. The Bermuda-based reinsurer reported fourth quarter net after tax income rose to $102.19 million, compared to $85.95 …
Reed Elsevier announced the acquisition of U.S. risk-management business ChoicePoint Inc for $4.1 billion, including debt, and said it would intensify a cost-saving drive and sell an advertising-dependent information business. Shares in Anglo-Dutch publisher Reed, which have outperformed the DJ …
Michigan-based Meadowbrook Insurance Group, Inc. reported it will acquire ProCentury Corp. in a transaction valued at approximately $272.6 million in cash and stock to be paid to ProCentury shareholders. Under the terms of the merger agreement, shareholders of ProCentury will …
In its earnings report (in U.S. dollars) released last week Toronto-based Kingsway Financial Services Inc. reported a fourth quarter loss of $103.5 million, and an $18.5 million loss for the full year. The Company said the “net loss was primarily …
Bermuda-based Flagstone Reinsurance Holdings Limited posted a rise in basic book value per share to $14.17, despite a drop in fourth quarter earnings to $51.4 million, or $0.60 per diluted share, compared to $63.6 million, or $0.88 per diluted share, …
A federal appeals court has overturned a $500 million settlement reached two years ago by The Travelers. Cos. Inc., a move that could open the company to potential new lawsuits. Travelers said it is evaluating the ruling by the Second …
A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A+’ (Superior) and the issuer credit ratings (ICR) of “aa” of the Progressive Agency Pool, Progressive Direct Pool and Progressive Commercial Auto Group (collectively known as Progressive) and their …
Standard & Poor’s Ratings Services has issued a blanket bulletin outlining the rating actions, which it notes are “mostly unfavorable,” on several U.S. mortgage insurers and their core and dependent foreign subsidiaries. “These changes resulted from a reassessment of our …
