Ratings for the California State Compensation Insurance Fund were placed on CreditWatch with negative implications by Standard & Poor’s on April 17. The action was taken on SCIF’s “A” counterparty credit and financial trength ratings based on concerns over the …
Arognaut Group Inc. announced that one of its subsidiaries has signed a definitive purchase and sale agreement with Queensway Financial Holdings Ltd. to acquire the shares of North Pointe Financial Services Inc., Hermitage Insurance Co., Consolidated Property & Casualty Insurance …
Parts of Europe continue to be ravaged by two devastating livestock diseases: foot-and-mouth disease (FMD), or hoof-and-mouth; and bovine spongiform encephalopathy (BSE), also known as “mad cow” disease. In the United Kingdom alone, hundreds of thousands of animals have been …
Progressive Corporation reported profit for the first quarter of 2001. This reverses a year-ago loss for the Ohio-based company as it nudged insurance premiums up and held down the cost of claims. Progressive reports operating profits, excluding one-time items, rose …
Arognaut Group Inc. announced that one of its subsidiaries has signed a definitive purchase and sale agreement with Queensway Financial Holdings Ltd. to acquire the shares of North Pointe Financial Services Inc., Hermitage Insurance Co., Consolidated Property & Casualty Insurance …
Due to the last week’s hailstorm, the five largest auto-insurance companies in Missouri have received more than 38,000 claims of storm damage to cars in the St. Louis area alone. According to the St. Louis Post-Dispatch, the majority of claims …
Bermuda-based international broker Stirling Cooke Brown Holdings Ltd. has named Anthony C. McCallum as the new head of its London reinsurance intermediary operations. McCallum joins Stirling Cooke two years after numerous lawsuits were filed against the company, arising from its …
Despite the economic slowdown in the U.S., two of the U.K.’s largest insurers, CGNU and Prudential plc, reported strong first quarter sales growth with new business in the U.K. up over 20 percent. Measured by the U.K.’s “annual premium equivalent” …
Dublin-based insurer ACE European Markets Insurance Ltd. will expand the ACE Group’s activities in the London market with the opening of a new office in the city to be headed by Stephen French, currently the company’s European Markets’ Property Underwriting …
Kansas City-based Aquila, Inc. will join forces with Japan’s Mitsui Marine and Fire Insurance Co. to develop and market weather risk management products in Japan and Asia. Aquila, a diversified subsidiary of UtiliCorp United, is a leading marketer of risk …
