Former executives at an Aon Re Inc. unit have broken ties with the reinsurance intermediary to start an independent firm. Axiom Intermediaries began operations Monday in Burlington, N.C. as an independent, privately held reinsurance broker. The company is a full-service …
American Modern Insurance Group, a wholly owned specialty insurance subsidiary of The Midland Co., has consolidated financial services and promoted Gary A. Cobb to direct sales and product development for the realigned department. This move is expected to strengthen American …
Amwest Group’s parent is the publicly-traded insurance holding company, Calabasas, Calif.-based Amwest Insurance Group Inc., primarily an underwriter of surety bonds which also writes property/casualty insurance through Amwest Surety Insurance Co., Condor Insurance Co. (Condor) and Far West Insurance Co. …
The property/casualty insurance industry reported a statutory rate of return of 5.6 percent (on an annualized basis) during the first half of 2000, down from 8.2 percent during the first half of 1999 and 6.6 percent for all of 1999. …
The U.S. property/casualty industry’s net income after taxes dropped to $10 billion in this year’s first half, down 32.5 percent from $14.9 billion a year ago. The industry’s surplus fell $7.6 billion, or 2.3 percent, from year-end 1999 to $326.7 …
GuideOne Insurance will close seven of its 12 national claims offices next year, and will sell a portion of its high-risk auto insurance to GMAC Insurance. GMAC, based in Winston-Salem, N.C., is expected to buy GuideOne’s nonstandard auto business in …
Japan’s largest non-life insurer, Tokio Marine & Fire Insurance Co., is reported by Reuters News Agency to be in the last stages of talks with Asahi Mutual Life Insurance to join their companies to create one of Japan’s largest composite …
Allianz AG posted a 30 percent rise in 1st half profits to €1.6 billion ($1.38 billion) from €1.2 billion ($1.03 billion) last year. The gains, which exceeded analysts expectations, were due primarily to the disposals of Allianz stakes in German …
Guy Carpenter, the reinsurance arm of Marsh Inc. has just issued a comprehensive 64 page study of the state and prospects for the property/casualty reinsurance market in the year 2000. The report sees an industry in transition with continuing major …
Insurance fraud has a major impact on Connecticut consumers and businesses – to the tune of an estimated $1.9 billion annually. Health care scams, the most lucrative and most difficult to detect type of fraud, are estimated to cost a …
