NIP Management Company, attorney-in-fact for Conventus Inter-Insurance Exchange, has named John R. Karlen as president. Conventus is a medical professional liability insurer in New Jersey that is both owned and governed by physicians. Karlen comes to Conventus from Physicians Insurance …
The Office of the Comptroller of the Currency (OCC) reported today that it has found significant easing in both commercial and retail credit underwriting standards over the past year. The OCC’s eleventh annual Survey of Credit Underwriting Practices noted significant …
Bermuda-based PXRE Group Ltd. announced results for the second quarter ended June 30, 2005. Highlights for the quarter included: * Net operating income per diluted share was $1.27 compared to $1.21 in the second quarter of 2004; * Net income …
Hedge funds are increasingly drawn into insurance underwriting business in an ever-ending search for alpha for their investors, according to experts at www.hedgeco.net. New reports show that hedge fund managers have been active in purchasing “catastrophe bonds” through which money …
Most Americans believe that being “old” means being age 71 or older and wish they themselves were still under age 40. A poll by the MetLife Mature Market Institute conducted by Zogby International shows that 60 percent of Americans believe …
HB Secures Firm Footing for Jockeys’ Insurance Scheme Trustees of the Professional Riders Insurance Scheme have given their approval to a new policy, secured by British Horseracing Board, which will help restore financial certainty to the Scheme and thus avoid …
A.M. Best Co. has placed the financial strength ratings of A (Excellent) and B++ (Very Good) of N.E.M. (West Indies) Insurance Limited (NEMWIL) and Guardian General Insurance Limited (GGIL) (both domiciled in Trinidad & Tobago), respectively, under review with negative …
Bermuda-based Arch Capital Group Ltd. reported that net income for the 2005 second quarter was $126.0 million, or $1.69 per share, compared to $104.3 million, or $1.42 per share, for the 2004 second quarter, and $241.9 million, or $3.26 per …
Congress took an important step toward opening the world’s insurance markets when it approved the Central American Free Trade Agreement (CAFTA), the American Insurance Association said Thursday. “Costa Rica, one of the nation’s that will participate in CAFTA, has one …
Ohio-based American Financial Group Inc. and Farmers Alliance Mutual Insurance Company announced that they have executed a letter of intent to acquire the multi-peril crop insurance and the crop hail insurance businesses written through Farmers Crop Insurance Alliance Inc (FCIA). …
