Consider the Crisis
Insurance is no doubt used in times of crisis — to recover from such events as a house fire, when a driver is in an accident, or a business suffers a loss, for example. But recently, California Gov. Arnold Schwarzenegger …
Plumeri Sees Financial Turmoil as an Opportunity for Insurance Industry
Willis Chairman and CEO Joe Plumeri, speaking at a conference sponsored by Insurance Day in Bermuda, sees opportunities for the insurance industry in the current financial crisis. In his keynote speech, Plumeri said he believes that in a time of …
Business Moves
Farmers, AIG Los Angeles-based the Farmers Insurance Group of Companies is buying American International Group’s (AIG) Personal Auto Group, which includes 21st Century Insurance Co. The acquisition price is $1.9 billion. Under the agreement, 21st Century Insurance Group, the wholly …
Business Moves
Farmers, American International Group (AIG), 21st Century Insurance Co. Los Angeles-based the Farmers Insurance Group of Companies announced it will acquire American International Group’s (AIG’s) Personal Auto Group, which includes 21st Century Insurance Co. The acquisition price is $1.9 billion, …
Fortegra Completes Acquisition of Bliss & Glennon from Willis HRH
Jacksonville, Fla.-based Fortegra Financial Corp., an insurance services company specializing in affinity marketing, payment protection, mass marketing and administration, has completed the acquisition of Bliss & Glennon Inc., from Willis HRH Inc. The financial terms of the transaction were not …
Willis Fourth Quarter Net Income Falls 35% to $62 Million
Willis Group Holdings, the third largest global insurance broker, said Wednesday that its fourth-quarter net income fell about 35 percent, hurt by declines in foreign currency and integration costs from a recent acquisition. Net income was $62 million, or 37 …
Willis to Release Q4 Earnings Today; Conference Call Details
Willis Group Holdings Limited will release earnings for the fourth quarter ending December 31, 2008 after the market closes on Wednesday, February 11, 2009. Copies of the release will be available soon thereafter within the “Investor Relations” section of the …
Willis Re Appoints 17 Brokers to Drive Specialty Lines Growth in US, UK
Willis Re, the reinsurance arm of global broker Willis Group Holdings, announced the appointment of 17 professionals “to extend the global growth of the unit’s specialty lines business.” Willis said the brokers, “currently with specialty reinsurance broker Carvill, will join …
Willis’ CEO Praises Risk Managers as Potential Financial Crisis Heroes
In his keynote address to the UK’s Association of Insurance and Risk Managers (AIRMIC) Joe Plumeri, Chairman and CEO of Willis Group Holdings, said that risk managers have never been more important than they are today in helping their companies …
New York Insurance Chief Seeks Contract Certainty for Large Policies
New York officials are putting pressure on insurers and brokers to sew up the details of most large commercial insurance policies and deliver finished contracts to customers within 30 days of inception to avoid uncertainty over what’s covered and what’s …
