Newsbriefs

SAFECO BOOSTS PREMIUMS

Struggling insurer Safeco will raise premiums in an effort to right itself and its balance sheet after another quarter of...

RELIANCE UPS RESERVES

Reliance Group Holdings subsidiary Reliance Insurance will increase its loss reserves by $332 million in the third quarter as a...

AIG IN THE DRIVER’S SEAT

American International Group Inc. announced that its member companies have entered into a number of strategic alliances to provide insurance...

AON, STATE FARM PEN AGREEMENT

Aon Corp. and State Farm Mutual Automobile Insurance Company have signed an agreement in which State Farm will market commercial...

CIGNA, ACE CLASS ACTION

A central Pennsylvania company has filed a class action complaint against insurance giants CIGNA and ACE for their refusal to...

STATE FARM GOES BANKING

State Farm Insurance Cos. has received federal approval to offer banking services nationwide by late 2001. The company opened State...

XL CUTS JOBS, CONSOLIDATES

Bermuda’s XL Capital Ltd. unveiled the second phase of its restructuring plan, announcing a refocusing on more profitable underwriting lines...

WACO CO. FACES VIATICAL SUIT

A Waco-based company offering viatical settlements is the focus of an investors’ class action suit filed by an Oklahoma City...

RUSSELL GRACE PASSES AWAY

Russell R. Grace 90, founder and president of Russell Grace Inc. Insurance of Fort Worth died Friday, Sept. 29. A...

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