Legislative changes to address the insurance availability problem in Louisiana and to promote greater competition in the industry will be the crux of the National Association of Independent Insurers’ (NAII’s) aggressive agenda during the 2003 session. The legislative session begins …
Cecil Y. Ray Jr., chairman, The Rigg Group, and Charles Reynolds, executive vice president, Wm. Rigg Co., announced Wm. Rigg Co. has acquired the Robert H. Leonhart Insurance Agency Inc. Robert Leonhart has joined Wm. Rigg Co. as senior vice …
Allcity Insurance Company, an operating subsidiary of New York’s Empire Group, which is currently in runoff, reported a net loss of $3,748,000 or $0.53 per share for the year ended December 31, 2002 compared to a net loss of $18,048,000 …
The Lawrenceville, New Jersey-based MIIX Group, Inc., a provider of medical professional liability insurance services, announced that the New York Stock Exchange recently notified the Company that its market capitalization and stockholders’ equity were below NYSE listing thresholds. “The Company …
Congressman Eric Cantor (R-Virginia) will address the National Association of Professional Insurance Agents during the group’s 20th Annual Federal Legislative Summit April 3, 2003 in Washington, D.C. PIA Assistant VP of Federal Affairs Peter Bizzozero described Cantor as, “a rising …
The New York State Insurance Department announced the arrest of Shannon Whiteman of Roseboom, New York, an agent of the Bob Putnam Insurance Agency in Cooperstown, on charges of grand larceny and forgery. Her arrest follows a joint investigation conducted …
Standard & Poor’s Ratings Services has issued a statement indicating that “the merger plan between Tokio Marine & Fire Insurance Co Ltd. (AA-/Negative/–) and Nichido Fire & Marine Insurance Co LTD (AA-/Negative/–) would have a limited impact on its ratings …
Axa Konzern, a German subsidiary of France’s AXA Group, will reportedly sell its 49.9 percent stake in General RE-CKAG, an intermediary company controlled by Berkshire Hathaway’s General Re, that owns slightly less than a 60 percent stake in Cologne Re. …
Standard & Poor’s Ratings Services announced that it expects to raise the insurer financial strength and counterparty credit ratings on the principal Australian and New Zealand-based general insurance subsidiaries of the U.K.’s Royal & Sun Alliance, the Promina Group Ltd., …
A court in Frankfurt has ruled against the German Supervisory authority’s, BAFin’s, objections to the sale of the Gerling group’s reinsurance operations, Gerling Globale Re, to Globale Management GmbH (GMG), an investment group headed by former insurance executive Achim Kann. …
