North Dakota Insurance Commissioner Jim Poolman is reminding residents that based upon the National Weather Service spring flood forecast, it is likely that some areas along the Red River and some of its tributaries will experience higher than normal flooding …
Insurer Allianz Group said Thursday its fourth-quarter profit nearly tripled as earnings in its banking and asset-management units and improved investment income protected it from losses related to last year’s hurricanes. The Munich-based company, Europe’s biggest insurer by gross premiums, …
Odyssey Re Holdings Corp. intends to file a notice with the Securities and Exchange Commission that it will delay the filing of its 2005 Annual Report on Form 10-K. In connection with its previously announced restatement of its financial results …
Guy Carpenter & Company Inc., the leading global risk and reinsurance specialist and a part of the Marsh & McLennan Companies, announced the appointment of Ray Carless as Executive Chairman of its Australia, New Zealand and Pacific operations, Guy Carpenter …
Southfield, Mich.-based North Pointe Holdings Corporation reported financial results for the fourth quarter ending December 31, 2005. Fourth quarter results include pre-tax expenses attributable to hurricane losses and related reinstatement charges of $9.4 million and $607,000 of charges due to …
The insurance industry is turning more frequently to catastrophe bonds, according to an article titled “Catastrophe Bonds: Assessing A Risky Business,” which was published by Standard & Poor’s Ratings Services. “In moderation, cat bonds can be an effective tool for …
XL Re Life has acquired Servus Life Insurance Company, expanding its U.S. life reinsurance market. Servus Life will be renamed XL Re Life America Inc. following state regulatory approvals. XL Re Life America Inc. will offer reinsurance capacity for individual …
Zurich Financial Services’ Board of Directors has extended the contact of the group’s CEO James J. Schiro to December 2009. “We are pleased that James Schiro has agreed to extend his tenure,” said Manfred Gentz, Zurich’s Chairman of Board. “Now …
The Coalition Against Insurance Fraud is reporting that the Kansas and Missouri legislatures are considering proposals that would require insurers to report suspected frauds and allow the insurance department to issue cease-and-desist orders more quickly. The Kansas House recently approved …
Will Weston IV has been nominated to the Independent Insurance Agents of Georgia’s executive committee. According to Kay Wimberly, immediate past president, the nomination took place at the March board of director’s meeting. If approved by members during IIAG’s annual …
