According to news reports, the Mexican bank accounts of ING Comercial América will remain frozen until the dispute with Grupo Fertinal is resolved. The report follows a ruling by a federal criminal judge, who determined that ING’s accounts could be …
A.M. Best Co. announced that it has upgraded the financial strength rating to A- (Excellent) from B++ (Very Good) of South Korea’s Hyundai Marine & Fire Insurance Company Limited (HMFI), with a stable outlook. “The rating reflects HMFI’s solid market …
Shares in PICC Property and Casualty Co. Ltd., (formerly Peoples Insurance Company of China) the country’s largest property insurer, began on the Hong Kong stock exchange earlier today with a bang, rising 50 percent over their H.K.$1.80 (U.S.$0.23) opening price …
Aegon N.V., the Netherlands-based financial group, announced that its third quarter net income was 464 million euros ($533 million), compared to 429 million euros ($493 million) in the third quarter of 2002. For the first nine months of the year …
Following its preliminary announcement last September, London-based ri3k, the leading provider of computer-based data processing and accounting for the reinsurance industry, announced the launch of Version 2.0 of its reinsurance infrastructure. A company bulletin described Version 2.0 as a “completely …
A.M. Best Co. announced that it has affirmed its Syndicate Rating of A (Excellent) of Lloyd’s Syndicate 510 with a stable outlook. The U.K.’s R J Kiln & Co Ltd. is the Synicate’s manager. “The rating reflects the syndicate’s excellent …
Another of Bermuda’s newer insurers, AXIS Capital, has reported excellent third quarter results. The company announced that its net income for the period rose to $147 million, or $0.90 per diluted share, compared to $92.1 million, or $0.68 per diluted …
Calif. Insurance Commissioner John Garamendi released the following statement declaring an Emergency Situation in Southern California due to the wildfires: “Due to the unprecedented destruction caused by Southern California wildfires, I have today declared an Emergency Situation in the following …
The California workers’ compensation system is broken with employers under immense financial strain due to continually rising premiums and employees feeling their legitimate claims being tarnished by the increasing amount of fraud. Current market conditions are forcing companies to take …
Seattle-based Safeco declared a regular dividend of 18.5 cents per share on its common stock. The dividend is payable Jan. 26, 2004 to shareholders of record on Jan. 9, 2004.
