The U.S. financial bailout will cost less than $50 billion, the Obama administration said Thursday, slashing a prior estimate by more than half on the back of a new plan to sell the government’s stake in insurer American International Group. …
Chicago-based insurance holding company Old Republic International Corp. has completed its acquisition of PMA Capital Corp. In connection with the closing of the merger, Pennsylvania-based PMA changed its name to PMA Cos. Inc. Al Zucaro, chairman and CEO of Old …
It may have staved off a financial system meltdown, but the U.S. Treasury’s $700 billion bailout program is so reviled by the public that its distaste may rub off on incumbent Democrats in November elections. What goes into the history …
American International Group Inc. and the U.S. government laid out a plan for the insurer to repay its $182.3 billion taxpayer bailout, just over two years after it was rescued from the brink of collapse. The deal, reached after AIG’s …
The employees at Florida-based insurance agency and advisory services firm Seitlin appreciate their salaries, bonuses and wellness program. But for them, their working environment is exemplary not just for what the agency does for them but also for what the …
American International Group Inc. laid out a plan Thursday that sets the insurer on an accelerated path for payback of bailout money, but it also increases the risk for the U.S. government. The plan, which comes a little over two …
As Lloyd’s published its first half results, Luke Savage, the chief financial officer, had a busy day on Tuesday. But he spoke briefly with Insurance Journal on some of the issues the report on the first half raised. As detailed …
Liberty Mutual Agency Corp. postponed indefinitely its planned initial public offering, quashing hopes that the planned $1.2 billion flotation could give a needed jolt to the U.S. IPO market. The property and casualty insurer announced the delay on the day …
The sagging economy took a toll on California’s covered work force and payroll in 2008, but the California workers’ compensation system remains the largest in the United States, accounting for more than 1 out of 9 covered workers, more than …
The surplus lines industry continues to experience a decline in direct premiums written (DPW). For a third consecutive year in 2009, the surplus lines industry’s DPW fell 4.1 percent, an improvement over 2008 where the DPW fell 6.2 percent. Even …
