Frontier Insurance Group’s primary operating subsidiary, Frontier Insurance Co., has voluntarily withdrawn from writing new and renewal insurance business across all lines. Mark Mishler, spokesperson for Frontier, told the Insurance Journal that pulling out of the market was a difficult …
MetLife warned Tuesday that auto and home insurance business losses would drag first quarter earnings below Wall Street expectations. The company said it would again increase rates to help cover costs. Meanwhile, five women with long careers at the company …
It didn’t take long for HSB to start expanding internationally once it became part of AIG. Tuesday the company announced the introduction of “a new international insurance product called HSB OneSource.” It’s aimed at giving “middle-market U.S. companies” adequate international …
French insurer AGF, which is 51 percent owned by Germany’s Allianz, had a banner year in 2000 with net income rising 26.7 percent to top € 845 million ($785 million). The group saw growth in all sectors, due in part …
The New York State Insurance Department is monitoring the conduct of insurance companies involved in home evacuations in Briarwood, New York where the homes were sinking. Five families in Briarwood have been evacuated from their homes by the New York …
A.M. Best Co. has lowered the financial strength rating for PAULA Insurance Co. of Pasadena, Calif., to B- (Fair) from B (Fair) and placed the company under review with developing implications. The rating action reflects PAULA’s increased underwriting leverage position …
Zurich Reinsurance (North America) Inc. is realigning its underwriting operations, organizing its underwriting units around specific business segments and integrating the individual risk functions of its facultative branches with its treaty functions. Zurich Re’s regional branch offices will continue to …
InsureHiTech, an eBusiness property and casualty insurance portal designed for middle market technology clients, has taken the first of its major carriers, The St. Paul Companies, “live” with its Web-based application process using XML (Extensible Markup Language) technology. The system …
Highlands Insurance Group Inc. announced Monday it expects to report a significant loss for the fourth quarter and the full year. As a result, the company is looking to hire an investment banker to explore financial alternatives. The company said …
Financier Martin Frankel pleaded not guilty Monday to a string of charges, including fraud. Frankel was arraigned in U.S. District Court in New Haven, Conn., following his extradition on March 2 from Germany, where he served 17 months of a …
