Large insurers AIG, Farmers and The Hartford made moves in 2009, as did large brokers Marsh, Aon, Willis, Gallagher, Brown & Brown, Hub and Wells Fargo. So, too, did, many regional insurers and Main Street agencies. Here are the headlines …
Mountain View, Calif.-based Lawson-Hawks Insurance Associates Inc., a regional independent insurance broker, has acquired J6 Insurance Services, Inc of Rocklin, Calif. in an asset purchase arrangement. The terms of the transaction were not disclosed. John Miller, CEO of Lawson Hawks …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and the issuer credit rating (ICR) of “a-” of South Korea’s Hyundai Marine & Fire Insurance Co., Ltd. (HMFI) both with stable outlooks. “The ratings reflect the …
U.S. safety regulators on Friday hit oil giant BP with a record $87.4- million fine for failing to fix safety violations at its Texas City, Texas, refinery after a deadly 2005 explosion. In announcing the fines, U.S. Labor Secretary Hilda …
Toronto-based Fairfax Financial Holdings Ltd; said its quarterly profit jumped 20 percent, due primarily to improved underwriting profit. Fairfax said its profit was $562.4 million in the third quarter, or $30.88 per diluted share. In Q3 2008, when the company …
Manulife Financial, Canada’s biggest life insurer, announced on Thursday that it has acquired Pottruff & Smith Travel Insurance Brokers Inc. in an all cash deal that will make it Canada’s No. 2 travel insurer. The acquisition was the second for …
Two Denham Springs, La., insurance agents have been accused of committing insurance fraud, and were served with cease and desist orders, summary suspension notices and fine notices by the Louisiana Department of Insurance. Christine Touchet, 37, was served on Sept. …
Insurance brokerage mergers and acquisitions in the second quarter of 2009 was nearly half of what is was during the second quarter of 2008. Just 39 transactions were announced from April through June compared to last year when 71 transactions …
A Mississippi convenience store owner who shot and killed a robber cannot seek coverage under his general liability policy for a wrongful death suit brought the victim’s survivors, a federal court has ruled. The suit stems from an incident in …
American Safety, Victore Insurance Bermuda-based American Safety Insurance Holdings Ltd.’s American Safety Casualty Insurance Co. (ASCIC) subsidiary has acquired Victore Insurance Co. (VIC), an Oklahoma domiciled admitted insurance company headquartered in Oklahoma City. VIC provides customized bonding solutions for the …
