A.M. Best Co. affirmed the financial strength rating (FSR) of “A” on PMA Capital Insurance Group, Philadelphia, and removed it from under review. The rating was placed under review Sept. 27, 2001, due to uncertainty regarding the potential impact of …
German insurance giant Allianz AG confirmed the adverse affects of last September’s attacks on the World Trade Center with the announcement that preliminary figures indicated a net operating profit for 2001 of around € 1.7 billion ($1.48 billion), down sharply …
Donald Trump has filed a lawsuit against Conseco, charging that the insurer breached an agreement with Manhattan’s reigning real estate king to sell him its half interest in the General Motors building. Trump is seeking $500 million in damages and …
Philadelphia-based PMA Capital Corporation announced that its net after-tax operating income in the fourth quarter was $5.8 million, or $0.25 per diluted share, compared with $7.0 million, or $0.32 per diluted share, for the same period in 2000. The company’s …
Lloyd’s of London confirmed analysts’ expectations with its second cash call to syndicate members in four months, asking them to provide an additional £546 million ($802.8 million) to cover Lloyd’s net loss estimates for the period 1998 to 2001, principally …
According to a report in the Wall Street Journal, ACE and XL may be close to concluding a settlement with Silverstein Properties, the master leaseholder on the destroyed World Trade Center, for around $365 million. The settlement, if it is …
Nebraska Department of Insurance Director, L. Tim Wagner announced the creation of an insurance availability task force, members of which are various insurance company representatives and insurance producers who will analyze issues relating to availability of insurance in the state. …
The upcoming 13th annual National Insurance Leadership Symposium (NILS) will focus on the effects of the Sept. 11 attacks on the insurance industry and the actions taken to recover. The symposium, which will be held on Feb. 10-12 at the …
CNA Financial Corporation announced that it expects a 2001 fourth-quarter net loss between $20 million and $35 million, compared with net income of $193 million for the same quarter in 2000. Included in the 2001 fourth quarter net loss are …
Standard & Poor’s today affirmed its “AA” long-term counterparty credit and insurer financial strength ratings on the operating entities of Paris-based global insurance group AXA, as well as its “A+” long-term counterparty credit ratings on AXA and AXA Financial Inc., …
