American International Group Inc. (AIG) has filed its Annual Report on Form 10-K for the year ended Dec. 31, 2005 with the Securities and Exchange Commission. Net income for the full year 2005 was $10.48 billion or $3.99 per diluted …
The session wasn’t easy or pretty for insurers, but the 2006 Indiana General Assembly concluded at midnight Tuesday with significant insurance-related successes, according to the National Association of Mutual Insurance Companies and its state insurance group partners. Tami Stanton, NAMIC’s …
Sirius International Insurance Corp. has agreed to withdraw an application it submitted to the Florida Office of Insurance Regulation for approval to do business in Florida as an eligible surplus lines insurer. The action occurred after representatives of Sirius and …
Ponce D. Moody, 53, of Raleigh, N.C. was arrested on charges of embezzlement by an insurance agent according to Insurance Commissioner Jim Long. Moody allegedly pocketed more than $8,300 in collected insurance premiums that should have been remitted to insurance …
In response to unmet capacity needs created by the devastating natural disasters of 2005, International Catastrophe Insurance Managers, LLC (ICAT), and National Fire and Marine Insurance Company (Berkshire Hathaway Group) have launched a new catastrophic coverage product for commercial special …
The Florida Cabinet gave its approval today for the Office of Insurance Regulation to conduct a public hearing to allow public input for a rule prohibiting discrimination by life insurers based on a person’s past or future travel plans. The …
A U.S. House panel has given its approval to a bill directed at making the government’s flood insurance program financially sound by, in part, increasing rates charged on nonresidential property and vacation homes, according to a Reuters report. The legislation, …
Des Moines, Iowa-based The Principal Financial Group will appoint Michael T. Dan to the company’s Board of Directors at its May 15-16, 2006 meeting. Currently Dan is chairman, president and chief executive officer of The Brink’s Company. Prior to joining …
A.M. Best Co. has affirmed the financial strength rating of A+ (Superior) and assigned an issuer credit rating of “aa-” to Hang Seng Insurance Company Limited (Hang Seng Insurance) (Hong Kong). The outlook for both ratings is stable. The ratings …
