Toronto-based Fairfax Financial Holdings Limited announced that its initial estimate of aggregate potential net losses relating to Hurricanes Frances, Ivan and Jeanne is in the range of US$85 million to US$95 million after tax and minority interests. All of the …
Bermuda’s ACE Limited announced that it will publish the company’s Global Loss Triangles shortly after 5:00 p.m. Eastern Daylight Time on Thursday, September 30, 2004. “A copy of these documents will be available on the Company’s website located at://www.acelimited.com in …
Fitch Ratings announced publication of a special report titled: “Reinsurance Credit Trends: An Update,” that examines industry-wide reinsurance-related data of property/casualty (re)insurers based in the U.S. In the report Fitch concludes that: — The industry continued to experience an increase …
Guy Carpenter & Company, Inc., Marsh Mac’s global risk and reinsurance specialist division, announced the appointment of Wilfried Mueller as a Managing Director, effective January 1, 2005. He will lead the firm’s efforts focused on the German middle market business …
The new national officers of the National Association of Professional Insurance Agents were installed during the group’s recent board of directors meeting held in Orlando, Fla. Each of the officers will serve one-year terms that begin on Oct. 1, 2004. …
Sharon A. Koches has joined the American Institute for CPCU and the Insurance Institute of America as marketing director, southern region. She is responsible for marketing activities in her 12-state region, which involve maintaining relationships with organizations that use and …
Both the Property Casualty Insurers Association of America (PCI) and the National Association of Mutual Insurance Companies (NAMIC) praised the House Financial Services Committee’s passage of H.R. 4634, the Terrorism Insurance Backstop Extension Act yesterday. The bill will extend the …
Pennsylvania-based Penn-America Group Inc. stated that based upon claims reported to date, it expects after-tax losses from Hurricanes Charley, Frances, Ivan and Jeanne, including additional reinsurance premiums, will be $3.4 million or $.23 per diluted share. Jon Saltzman, president and …
Federal and state grants to assist West Virginians with flood recovery efforts have reached $2.5 million, state and federal recovery officials said on Wednesday. President Bush’s Sept. 20 Hurricane Ivan disaster declaration for West Virginia now includes 16 counties. Federal …
Even before the full impact of the recent hurricane activity is known, the majority of the 150 senior insurance executives surveyed are less optimistic about premium growth and the industry’s ability to increase margins, according to KPMG LLP. Survey results …
