Fourth quarter profits at Warren, New Jersey-based The Chubb Corp. fell 37 percent to $407 million from $650 million in the same quarter last year. For the full year, net income was down 36 percent to $1.8 billion from $2.8 …
Standard & Poor’s Ratings Services has issued a bulletin indicating that “its ‘3’ Lloyd’s Syndicate Assessment (LSA) on Chaucer – Syndicate 1084 is not affected by the announcement by Chaucer Holdings PLC (Chaucer Holdings; not rated) on January 28 of …
A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘B++’ (Good) from ‘B’ (Fair) and issuer credit rating (ICR) to “bbb” from “bb+” of Canada’s Coachman Insurance Company, and has revised the outlook to stable from positive. Best …
Dog lovers are concerned over a bill in the Hawaii Legislature that would ban ownership of pit pulls. The bill was introduced by Senate President Colleen Hanabusa in the wake of an attack on a police officer by a mixed-breed …
After 14 years of service with Allianz, Charles (Chuck) Kavitsky will retire, effective July 31, 2009. Until that time, he will continue in his current role as chairman, president and CEO of Allianz of America and chairman of Fireman’s Fund …
Towerstone Inc., a wholesale insurance broker and managing general agency based in Dallas, announced the hiring of three new employees. Samar Aragon has joined Towerstone as an account manager. She brings five years’ experience as an assistant underwriter with a …
The Arkansas Senate has approved legislation that would give the governor the power to fire the state’s insurance commissioner at will. The bill would require the state insurance commissioner to serve at the pleasure of the governor. The proposal by …
Oklahoma-based BancInsure’s insurance and risk management products are now available to Texas bankers through their local independent insurance agents, the company announced. “As a former Texan I understand the extraordinary value of relationships and the desire for choice in the …
The Louisiana Superdome authority in New Orleans has filed suit against Merrill Lynch over a $238 million stadium bond issue that exploded in interest costs after the market for government securities dried up last year. The suit, filed in state …
An appellate court in Houston has reversed a nearly $3 million jury verdict against Texas Mutual Insurance Company in a dispute over cancellation of a workers’ compensation policy, the insurer announced. Former policyholder Sembera Security Systems Inc. of Cypress, Texas, …
