North Pointe, Capital City Holding Co. Mich.-based North Pointe Holdings Corp. announced that it has entered into a purchase agreement to acquire all of Capital City Holding Co. Inc.’s outstanding stock. In addition, the purchase of this property and casualty …
The October 2004 attack by then New York Attorney General, now Governor, Eliot Spitzer against bid rigging and contingent commissions generated significant losses, both in income and competitiveness, for the world’s three biggest global insurance brokers. Fortunately for Marsh & …
West Virginia-based Summit Financial Group, Inc. has agreed to acquire Kelly Insurance Agency, Inc. and Kelly Property and Casualty Inc. headquartered in Leesburg, Virginia for $6.2 million in stock. The acquisition of the Kelly Agencies will serve to expand significantly …
Standard & Poor’s Ratings Services has lowered its rating on R.V.I. Guaranty Co. Ltd., R.V.I. America Insurance Co., and R.V.I. National Insurance Co. (collectively referred to as RVI) to “A-” from “A” and assigned them a negative outlook. “The downgrade …
The attack that began in October 2002 by then New York Attorney General, now Governor, Eliot Spitzer against bid rigging and contingent commissions generated significant losses, both in income and competitiveness, for the world’s three biggest global insurance brokers. Fortunately …
A.M. Best Co. has upgraded the financial strength rating to “B++” (Good) from B+ (Good) and the issuer credit ratings (ICR) to “bbb” from “bbb-“of Proformance Insurance Company. Best also upgraded the ICR to “bb” from “bb-” of Proformance’s holding …
Bermuda? Business only. Going to hit about a dozen companies in two days with one of my favorite P&C analysts, Harry Fong of Calyon. I hope there are a decent number of insurance only buy-side analysts along for the ride. …
Germany’s Allianz, which has been steadily expanding its activities in Eastern Europe, is now realizing strong results from its ventures. Revenues from Central and Eastern Europe in the first quarter of 2007 reached €1.06 billion ($1.435 billion), compared to €838 …
Standard & Poor’s Ratings Services has raised its Lloyd’s Syndicate Assessment (LSA) on Advent Underwriting – Syndicate 0780 to “2” from “2-” with a positive outlook. “The upgrade reflects the improvements made to the syndicate’s underwriting controls, and the reunderwriting …
EMC Insurance Cos. said it expects to see losses of up to $21 million from storms last weekend, including devastating tornadoes that killed at least 11 people in Kansas. Des Moines-based EMC insures several businesses and homes in Greensburg, Kan., …
