The nation’s bank holding companies increased their total insurance revenue 1.0 percent to $21.7 billion in the first half of 2007 from $21.4 billion during the same period in 2006. CitiGroup (NY), Wells Fargo & Company (CA), and HSBC North …
Congressional consideration of renewing the federal terrorism risk insurance program poses a number of political and actuarial issues, while reserving actuaries continue to face significant challenges when dealing with large catastrophic events such as natural catastrophes, attendees of the Casualty …
Federal regulators are telling companies to provide clearer, more detailed analyses of their executive compensation decisions and avoid repeating unhelpful “boilerplate” in expanded disclosure statements. After reviewing 350 public companies’ compliance with new disclosure rules, the Securities and Exchange Commission …
Munich Re announced a new long-term “profitable growth strategy” aimed at increasing its share of both direct and broker reinsurance, as well as primary insurance, in the U.S. P/C market. The Group writes more than $50 billion in reinsurance premiums …
Standard & Poor’s Ratings Services said it raised its counterparty credit and financial strength ratings on Novato, Calif.-based Fireman’s Fund Insurance Co. and affiliates to “A+” from “A,” noting the outlook is positive. “The upgrade reflects the insurer’s significant progress …
A.M. Best Co. has upgraded the financial strength ratings (FSR) to A+ (Superior) from A (Excellent) and issuer credit ratings (ICR) to “aa-” from “a” for Northland Insurance Co. (St. Paul, Minn.), Northfield Insurance Co. (West Des Moines, Iowa), Northland …
Shore Bancshares, Inc. , parent company of three independent community banks and two retail insurance agencies serving the Delmarva peninsula, has closed two new acquisitions including a retail agency specializing in marine insurance and a wholesale insurance agency offering a …
A.M. Best Co. has affirmed the financial strength rating of ‘B+’ (Good) and the issuer credit rating (ICR) of “bbb-” of Turkey’s Milli Reasurans Turk Anonim Sirketi (Milli Re) with a positive outlook, which Best said “reflects Milli Re’s maintenance …
A Montana District Court jury has awarded a former BNSF Railway employee more than $1 million for a neck injury he suffered while working. Paul Roney, 61, of Shelby, said he sustained a severe neck injury on April 25, 2002, …
