Standard & Poor’s has affirmed its ‘A-‘ long-term counterparty credit and insurer financial strength ratings on Belgium-based reinsurer Secura N.V., following a review. The outlook is stable. “The ratings on Secura are enhanced by the provision of a suitably worded …
Travelers Property Casualty Corp. reported net income for the second quarter of $441.2 million or $0.44 per share, basic and diluted, compared to net income of $332.0 million or $0.33 per share in the prior year quarter. The results reflect …
The Midland Company, an Ohio provider of specialty insurance products and services, reported results for its second quarter ended June 30. The company reported a net loss of $1.0 million, or 6 cents per share, including 10 cents in realized …
Workers’ compensation total costs per claim in North Carolina, lower than most of the states in a national study, are rising, according to the Workers Compensation Research Institute (WCRI). The WCRI study of 12 states, representing 50 percent of the …
AIR Worldwide Corporation (AIR) announced the release of its 2003 European extratropical cyclone model, which is used by insurers and reinsurers to price contracts and manage risk from these windstorms. The model incorporates the latest advances in AIR’s numerical weather …
A.M. Best Co. has assigned a rating of “bbb” to Alabama-based Infinity Property and Casualty Corporation’s $200 million senior secured term loan facility. The rating outlook is stable. The financial strength rating of A (Excellent) of Infinity’s insurance subsidiaries remains …
Claudette, now classified by the National Hurricane Center as a tropical depression, has killed at least two people in Texas, according to the Associated Press. It also left several mid-coast communities without power. The two who died were felled by …
Mayfield Village, Ohio-based vehicle insurer Progressive Corp. reported second quarter 2003 net income of $286.3 million, or $1.29 per share, compared to $160.4 million, or $.71 per share, in the second quarter last year. Included in net income are net …
New Jersey Attorney General Peter Harvey announced that a former Hudson County podiatrist has been ordered to reimburse the Medicaid Program nearly $6,000 for billing the cost of fraudulently obtained prescription drugs to the state and federal program. According to …
Belfor, a provider in integrated disaster recovery and restoration services, announced the opening of an office in Phoenix. Belfor offers 24/7 emergency response; structural dehumidification; mold remediation; document and electronics restoration; machinery refurbishment; vital records recovery. The new Arizona office …