To further strengthen its corporate governance structure, the Nationwide Financial Services Inc. board of directors today announced that it has separated the roles of chairman and chief executive officer. As a result, Arden L. Shisler has been elected to a …
The Bermuda-based Arch Capital Group Ltd. announced that, Ralph E. Jones III will join the company as President and CEO of Arch Insurance Group, a division of Arch Capital, effective July 1, 2003. Jones will assume responsibility for the management …
Aon CEO Patrick Ryan told a group of journalists that premiums will grow slowly through the end of 2003 and into early 2004, according to Reuters. Ryan predicted rates would rise over the next five to seven years. Certain sectors, …
Lloyd’s Chairman, Lord Peter Levene, told more than 250 senior brokers at the first Lloyd’s European Symposium, held at the Grange City Hotel in London, that now is the time for Lloyd’s to take whatever steps are necessary to make …
Crain’s Chicago Business reports that exclusive-agency carrier Allstate Corp. plans to set up an advisory board of agents this summer in an attempt to improve relations damaged by the company’s unilateral move to change its employee-agents into independent contractors. The …
A bulletin from the Professional Insurance Agents noted the untimely death of Donald K. Gardiner, 63, retired chief executive officer of the National Association of Professional Insurance Agents and former executive director of the Professional Insurance Agents of New York …
Platinum Underwriters Holdings, Ltd.’s first full quarter of independent operation since its initial public offering last October got off to a good start. The company reported net income of $30.6 million, or $0.71 per common share, for the quarter ended …
Swiss Re, the world’s second largest reinsurer, held its 139th annual shareholders meeting yesterday, and, as expected, shareholders approved last year’s SwF 91 million ($69.3 million) net loss, and the reduction of its dividend payment to 1 Swiss Franc, about …
Progressive Corp.’s quarterly report reveals the company gave CEO Glen Renwick $4.5 million in stock awards, according to CBS MarketWatch. The stock was split evenly into restricted stocks based on performance and stock that could be exercised upon at a …
The Bermuda-based PXRE Group Ltd. announced significantly higher profits for the first quarter ended March 31, 2003 with net income for the quarter up by 30 percent to $23.6 million, compared to $18.2 million in the first quarter of 2002. …
