Stock Prices: Commercial insurers’ stocks were up an impressive 8 percent for the second quarter of 2007. Much of the increase can be attributed to the high premium which was paid for Ohio Casualty Corp. (Nasdaq:OCAS) by Liberty Mutual Group. …
Rising tort costs, increasing litigation trends dictate the need for higher liability coverage What should brokers or agents say when they meet resistance from customers who already feel they are spending too much on liability coverage? Explain that in today’s …
Agents need to build a portfolio of carriers to meet their clients needs, and that should include both regional and national carriers, according to Rick Quagliaroli, president and CEO of Strongwood Holdings Insurance Corp. and its subsidiary companies Sequoia Insurance …
Allstate Corp., the nation’s No. 2 property and casualty insurer, said Wednesday its second-quarter profits climbed 16 percent on strong auto insurance sales but operating income fell as the company paid significantly more in catastrophe-related costs. The results fell short …
Railroad operator CSX Corp. said Tuesday second-quarter earnings fell almost 17 percent from a year earlier, when the company saw a gain from insurance recoveries related to Hurricane Katrina. Net income declined to $324 million, or 71 cents a share, …
Alfa Corporation announced that it expects operating income for the quarter ended June 30, 2007, to be in a range of $0.40 to $0.44 per diluted share. The results are primarily due to improved underwriting results at the property and …
Standard & Poor’s Ratings Services has raised its long-term counterparty credit and insurer financial strength ratings on Germany’s Allianz SE (AZSE) and various core operating entities to ‘AA’ from ‘AA-‘. S&P added that as a consequence of the upgrade on …
Standard & Poor’s Ratings Services has issued a new report -“Bancassurance Approaches Employed In Europe, The U.S., And Russia: Similarities And Differences-” that analyzes the sector in those regions. S&P describes “Bancassurance” as a “catch-all phrase to describe the many …
The UK’s two largest insurers, Aviva plc and Royal & SunAlliance Insurance Group plc, have both issued preliminary estimates of how the claims from the recent floods (See IJ web site June 27, 29 and July 2) would impact their …
The Travelers Companies, Inc. said it has settled all current and future asbestos-related coverage claims relating to ACandS, Inc. Under the settlement agreement, Travelers will contribute $449 million to a trust to be established pursuant to ACandS’ plan of reorganization. …
