PXRE Group Ltd. announced higher profits for the second quarter ended June 30, 2003. PXRE’s net income for the quarter increased 13 percent to $21.5 million from $19.0 million in the second quarter of 2002. Net income per diluted share …
A proposed steep increase in malpractice insurance rates affecting most Maryland physicians quickly will cause some medical practices to limit their ability to provide care, according to MedChi, The Maryland State Medical Society. Testifying on Wednesday before the Maryland Insurance …
The Hartford Financial Services Group, Inc. reported net income per diluted share of $1.88 for the second quarter of 2003, up sharply from $0.74 per diluted share in the second quarter of 2002. Net income nearly tripled to $507 million …
A.M. Best Co. has affirmed the financial strength rating of A+ (Superior) of Sompo Japan Insurance Inc., Japan. The outlook is negative. The rating reflects Sompo Japan’s deteriorated risk-adjusted capitalization, vulnerability to the weak financial market, high domestic catastrophe exposure …
The Mississippi Department of Insurance has issued a proposed regulation dealing with insurers’ use of credit scoring in insurance rating and underwriting and is seeking input at a hearing scheduled for Sept. 9 at the state capitol. “The proposed regulation …
Chicago-based Aon Corporation reported second quarter and six months 2003 results. Net income for the second quarter was $146 million or $0.46 per share compared with breakeven results in the year ago period. Six months results increased to $298 million …
The Alliance of American Insurers and several other insurance trade groups and companies have filed an amicus curiae brief with the New Mexico Supreme Court asking it to reverse an appellate court decision that would reportedly permit private bad faith …
New Jersey Attorney General Peter Harvey announced that a Philadelphia woman has pled guilty to insurance fraud-related charges for her reported role in participating in a staged automobile accident in order to collect more than $16,000 in insurance claim monies. …
Birmingham, Ala.-based Vesta Insurance Group Inc. reported a net operating loss from continuing operations of $5.4 million, or $(0.16) per share in the second quarter of 2003 compared to a net operating loss from continuing operations of $.6 million, or …
The Insurance Council of Texas (ICT) announced it will hold a workers compensation insurance symposium on Sept. 24 in Austin, Texas. Presenters will speak on the following topics: State of the Texas Workers Compensation System – Insurance Commissioner José Montemayor; …