In its first quarter 2006 financial report, Marsh & McLennan Companies, Inc., parent company of insurance broker Marsh, cited a slight (1%) decline in consolidated revenues to $3 billion, while posting a rise in net income to $416 million, or …
One more director of Beacon Mutual Insurance Co. has resigned, while two others targeted for removal by Rhode Island Gov. Donald Carcieri have sued to challenge the governor’s authority to remove them. John Holmes, who runs a government relations firm …
Community Banks, Inc. has completed its acquisition of Wiley Insurance Agency, Inc., located in Mt. Joy, Pennsylvania. Wiley has now become a part of CommunityBanks Insurance Services, LLC, but will continue to operate as Wiley Insurance Agency. In conjunction with …
Toronto-based truck and non-standard auto insurer Kingsway Financial Services Inc. announced its financial results (in U.S. dollars) for the first quarter ended March 31, 2006. Although net operating income increased by 11 percent to $30 million in Q1 2006, compared …
Bermuda’s Endurance Specialty Holdings Ltd. announced the appointment of William J. Raver to its Board of Directors. He has been the Chief Operating Officer of Verizon Investment Management Corporation since 2003. Endurance noted that in this role, “he helps oversee …
A.M. Best Co. announced that it has upgraded the financial strength rating to “A-” (Excellent) from “B++” (Very Good) of Through Transport Mutual Insurance Association Limited (TT Bermuda) and its wholly owned U.K. subsidiary, Through Transport Mutual Insurance Association (EurAsia) …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) and the issuer credit rating of “aa” of France’s Caisse Centrale de Reassurance (CCR) with a stable outlook. “The ratings reflect CCR’s unique position as …
Global insurance broker Willis Group Holdings Limited reported a strong first quarter 2006, posting total revenues of $671 million, compared with $669 million for the same period last year. Willis said “the effect of foreign currency translation decreased reported revenues …
A large majority of meteorologists, scientists and other researchers now agree that global climate change is a reality backed up by well-documented findings of higher temperatures in the world’s oceans and atmosphere. However, questions as to what extent human activity …
The insurance crisis is not a Florida problem, it is a national problem that demands national solutions, Tom Gallagher, Florida CFO, said after applauding the Florida Legislature for calling on Congress to create a national catastrophe insurance plan. The call …
