Progressive Corp., the fourth- largest U.S. car insurer, said second-quarter profit fell 9.6 percent as investment gains narrowed. Net income dropped to $293.4 million, or 49 cents a share, from $324.6 million, or 54 cents, a year earlier, the Mayfield …
A federal judge on Wednesday rejected PricewaterhouseCoopers’ request to dismiss a $1 billion lawsuit accusing the auditor of providing bad accounting advice that contributed to the October 2011 collapse of MF Global Holdings Ltd, a brokerage run by former New …
A.M. Best has commented that the financial strength rating of ‘A’ (Excellent) and the issuer credit ratings of “a” of Qatar Insurance Company S.A.Q. (QIC) and its main subsidiaries remain unchanged following QIC’s acquisition of Antares Holdings Limited. Best added …
According to catastrophe modeling firm AIR Worldwide, Typhoon Neoguri weakened to a tropical storm before it made landfall on Japan’s southernmost island, Kyushu, at 6 a.m. Thursday, July 10, local time (5 p.m. Wednesday, July 9, Eastern Time). Minimum central …
Swiss-based Allied World Assurance Company Holdings, AG announced that it has added Excess D&O coverage to its existing management liability product suite in the Canadian market. The announcement said the “Excess D&O product joins Allied World’s ForceField that offers five …
Barbara J. Ryan has been re-appointed, without competition, to a second, three year term as the Secretariat Director of the Group on Earth Observations (GEO). Her re-appointment was made by unanimous consent of the GEO Executive Committee. The GEO is …
Willis Group Holdings, global risk adviser, insurance and reinsurance broker, has appointed Keith Chapman as Regional Construction Industry Leader for the Middle East. He is based in Dubai and his “primary responsibility will be to develop risk management solutions for …
The U.S. House of Representatives will sue President Barack Obama’s administration over delaying the implementation of an employer health insurance mandate in the 2010 health-care law. “In 2013, the president changed the health-care law without a vote of Congress, effectively …
Indian Prime Minister Narendra Modi’s new government on Thursday unveiled its first budget of structural reforms aimed at reviving growth, winning praise from investors despite a lack of clarity over how it would cap the big fiscal deficit. Modi’s government, …
Angela Dike was showing clients how to make duck red curry and chocolate spring rolls in her Thai cooking class when hail stones as big as golf balls started slamming into the 18 cars parked outside. Windscreens and headlights were …
