Cayman Islands-based Greenlight Capital Re announced the election of Bryan Murphy to the company’s Board of Directors. Murphy, 63, has over 40 years of experience in the insurance and reinsurance business and has held senior executive positions in companies located …
American International Group Inc. should have a list of assets it wants to sell by next week, its new chief executive said Monday, as the company prepares to split itself up to repay an emergency bailout loan. The New York-based …
American International Group Inc., which narrowly escaped financial collapse this week, on Thursday said it had named Edward Liddy as chairman and chief executive. Liddy succeeds Robert Willumstad, who is leaving after three months on the job, and in the …
On average, auto insurance companies quote and successfully sign only two percent of all auto insurance shoppers, according to the J.D. Power and Associates 2008 Insurance Escaped Shopper Study. The study finds that 36 percent of auto insurance customers have …
“Canada’s property/casualty insurance sector is stable, but strong capitalization and profitability provide the ingredients for continued softening in the market,” indicates a new report from A.M. Best on the country’s insurance industry. Best also noted that “pricing is down across …
With Democratic and Republican legislators unable to agree on a budget since California’s fiscal year began on July 1, 2008, many state services — as well as insurance bills — are at a standstill. Gov. Arnold Schwarzenegger has threatened not …
Standard & Poor’s Ratings Services has issued an analysis of the U.K. motor insurance industry’s reported results, which concludes that “healthy reported numbers continue to hide high releases from prior-year reserves.” “The stable performance indicated by the headline results, as …
Unitrin, Inc. reported today that its subsidiary, Trinity Universal Insurance Co. is buying Direct Response Corp. and its subsidiaries. Trinity will acquire Direct Response in a cash transaction valued at approximately $220 million, subject to certain purchase price adjustments. The …
Auto insurance customers with high commitment levels not only make more recommendations and are more likely to renew their policies, but are also significantly less sensitive to pricing offers from competitors, according to the J.D. Power and Associates 2008 National …
One of New York state’s largest auto insurers, GEICO, agreed to drop two requests for rate hikes after a plea by the state’s top regulator to consider the effect of high gas prices on customers’ driving habits. Following discussions with …
