Standard & Poor’s has assigned its ‘A’ counterparty credit and financial strength ratings to State Automobile Mutual Insurance Co. and the other members of the State Auto Group. In addition, Standard & Poor’s assigned its ‘BBB’ rating to State Auto …
Ohio-based insurer Cincinnati Financial Corp. (CFC) reported third-quarter 2003 net income of $104 million, or 64 cents per diluted share, compared with $72 million, or 44 cents per share, in the third quarter of 2002. Net income per share included …
American National Insurance Company, based in Galveston, Texas, reported third quarter 2003 net income of $43,960,000 ($1.66 per share) compared to $31,436,000 ($1.19 per share) for the same period in 2002, an increase of 39 percent. After tax net gain …
Bermuda’s Montpelier Re Holdings Ltd. reported net income of $91 million, or $1.34 diluted earnings per share, for the three months to September 30, 2003. The company’s net income for the first nine months of 2003 was $307.3 million, or …
The Hartford Financial Services Group, Inc. reported it is ready to respond quickly to damage claims resulting from the wildfires in southern California. The company’s representatives at its toll-free, 24-hour claim number are prepared for customer calls resulting from the …
Virginia-based CORT Furniture Rental has mobilized its operations nationwide to aid the victims of the Southern California fires. CORT will help displaced persons and businesses locate immediate temporary housing and office space, as well as provide short or long term …
ACE Limited reported that fully diluted net income per share totaled $1.22, which included after-tax net realized gains of $51 million for the third quarter. This compared with a net loss of $0.24 per share for the quarter a year …
Most of the damage from the rash of wildfires ravaging Southern California will be covered under property owners’ homeowners and fire insurance policies, according to the Association of California Insurance Companies (ACIC). However, the extent of coverage to rebuild homes, …
A Tennessee attorney has been sentenced on Mississippi charges in the Martin Frankel scam. Attorney General Mike Moore announced the sentencing of John Jordan for his reported role in the Frankel insurance scam. In April 2001, Jordan pleaded guilty to …
New Jersey Attorney General Peter Harvey announced that the Executive Director of a Camden County outpatient mental health clinic, along with the clinic’s senior administrators, have pleaded guilty to Health Care Claims Fraud for reportedly submitting more than $13,000 in …