In what reports have characterized as a minor victory for Silverstein Properties in the WTC insurance recovery case, Judge Michael Mukasey told the jury, which ended five days of deliberations yesterday, that they could render separate verdicts concerning the responsibility …
The Chubb Corporation reported that net income in the first quarter of 2004 was $360.7 million, a 61 percent increase over net income of $224.6 million in the first quarter of 2003. Net income per share increased 44 percent to …
According to findings from a new joint study by Guy Carpenter & Company, Inc. and MMC Securities Corp., the catastrophe bond market experienced substantial growth in 2003, as cat bonds remained an important complement to the reinsurance market. “Total bond …
Standard & Poor’s Ratings Services announced that it has revised its outlook on ACE Ltd. and its operating companies to stable from negative. S&P also affirmed its “A+” counterparty credit and financial strength ratings on ACE Ltd.’s operating units aas …
The Council of Insurance Agents & Brokers commented that Placement Service Agreements (PSAs) between commercial insurance brokers and the insurance carriers with which they do business are not an issue of concern in the industry. New York Attorney General Eliot …
Bermuda-based AXIS Capital Holdings Limited announced that the underwriters of its secondary offering have exercised their option to purchase an additional 3,000,000 common shares, in full, at a price of $27.91 to cover over-allotments. In a separate announcement A.M. Best …
Illinois-based Insurance Auto Auctions Inc., a provider of automotive salvage and claims processing services in the United States, reported higher net earnings for the quarter ended March 28, 2004. The company recorded net earnings of $2.3 million, or $0.20 per …
Florida’s Brown & Brown Inc. reported that the company is acquiring Proctor Homer Warren Inc. d/b/a Proctor Financial Insurance, of Troy, Mich. Jim W. Henderson, president and chief operating officer of Brown & Brown; Kenneth R. Masters, executive vice president …
Atlanta-based Crawford & Company reported that its board of directors has accepted the resignation of Grover L. Davis as chairman of the Board and chief executive officer, effective immediately. The board named Marshall G. Long as interim CEO. Long currently …
Carmel, Ind.-based vehicle auction services firm, ADESA Corp., announced a number of management changes in the Southeast region. It promoted Jason Brinkley to the position of general manager for ADESA Atlanta. A graduate of Texas A&M University, Brinkley began his …