Newsbriefs

WALL ST. NEGATIVE ON RE

Neither Standard & Poor’s Financial Services Ratings Group nor investment bank Morgan Stanley is bullish on the reinsurance industry these...

NATIONWIDE INFRINGED UPON’

To protect its name and trademark, Nationwide, an international insurance and financial services leader, filed a federal trademark infringement suit...

ST. PAUL FORMS NEW GROUP

The St. Paul Companies announced the formation of the Global Surety and Construction Group. According to the group’s newly appointed...

LAAA JOINS NAAA

The National Auto Agents Alliance at its Board meeting in Atlanta, Ga., accepted an application for affiliation from the Latin...

STATE FARM’S EXIT SLOWED

New Jersey’s Department of Banking and Insurance is seeking to prolong the state’s largest automobile insurer’s presence in order to...

CITIGROUP CUTS MORE JOBS

In addition to the previously announced layoffs of 1,200 employees, Citigroup Inc. announced it would let go another 3,000 workers...

X.L. AMERICA LAUNCHES NEW UNIT

X.L. America Inc. is consolidating the management of its U.S. specialty insurance programs under one newly formed business unit, XL...

SAFECO TO BUY ACE USA DIVISION

SAFECO Corp. and ACE USA announced an agreement for SAFECO Select Insurance Services Inc. to acquire ACE USA’s Financial Institution...

CALIF. PRIVACY BILL DEFEATED

Following a late night debate, the California State Assembly voted to defeat a controversial financial privacy measure that would have...

ONLINE MARKETS CHASE SMALL BIZ

According to a new report, online insurance marketplaces are now actively pursuing the historically underserved small business customers, who are...

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