Hawaii’s newest local insurance company has begun writing hurricane insurance and reinsurance. Zephyr Insurance Company will initially write only hurricane insurance for the residents of Hawaii and has already begun issuing policies. The privately held admitted insurance company was founded …
SAFECO has announced second-quarter net income of $29 million, or $.23 per diluted share. Operating income for the quarter, excluding realized gains from investments, was reported as $12 million or $.10 per diluted share. “We are disappointed that we did …
Travelers Insurance has reached an agreement in principle with Reliance Group Holdings to purchase the renewal rights to a portion of Reliance Insurance Group’s commercial lines middle-market book of business. Beginning next month, subject to execution of the definitive agreement …
Insurers writing most workers compensation business in Missouri are continuing a six-year trend of cutting rates, based on filings in the first half of 2000, the Department of Insurance (MDI) announced last week. Department statistics for the first half of …
Japanese Prime Minister Yoshiro Mori and U.S. President Bill Clinton agreed over the weekend to a fourth year talks to deregulate bilateral trade. The latest discussions ended with a joint report to the leaders on high-stakes sectors ranging from energy, …
Dutch financial services group ING plans to launch an Internet bank in the U.S., which will include coffee shops where customers can meet advisers face to face, the Financial Times reported Saturday. ING Direct will open in Philadelphia later this …
Three weeks into his new job heading Conseco Inc., Gary Wendt has tapped three former GE Capital colleagues to help him right the sinking ship. Wendt hired Paul Street, Michael Borom and Peter Keenoy to provide “special services” in solving …
Hilb, Rogal and Hamilton Company today reported financial results for the second quarter and six months ended June 30, 2000. Total revenues for the quarter increased 13.4%, to $62.2 million, from $54.9 million a year ago. Results include American Phoenix …
Allstate Corp.’s second-quarter profits fell 40 percent due, in large part, to a battering of spring storms. The unusually heavy losses from catastrophes were not helped by higher claims and increased competition that has kept premiums comparatively low. Net income …
EQETrac EQECAT and Atmospheric and Environmental Research have made available the EQETrac, an advanced proprietary real-time hurricane forecasting system. The system provides subscribers with probabilistic estimates of hurricane landfall locations, windspeed at landfall, industry damage and loss estimates, and other …
