Alabama-based Vesta Insurance Group Inc. announced that its Florida Select subsidiary expects to incur losses between $10.0 and $13.5 million in Florida, net of reinsurance, from Hurricane Charley. “Our insurance companies are prepared to take care of their customers when …
Standard & Poor’s Ratings Services assigned its “AA” financial strength ratings to American Contractors Indemnity Co. (ACIC) and HCC Reinsurance Co. Ltd. (HCC Re), both subsidiaries of Houston-based property/casualty specialty writer HCC Insurance Holdings Inc. (HCC). The outlook is stable. …
GAINSCO Inc., headquartered in Dallas, reported net income for the second quarter 2004 of approximately $1.0 million. After the accretion of the discount on the redeemable preferred stock of approximately $0.8 million and the accrual of dividends on the redeemable …
It may be small comfort to the beleaguered Floridians who are trying to pick up their lives after Charley’s deadly passage Friday afternoon (See lead article), but the violent storm actually caused less damage than had been feared. California-based Risk …
AGF, the French subsidiary of Germany’s Allianz Group, announced record first half net income of 532 million euros ($660 million), and annualized return on equity of 16.3 percent. “The AGF Group is in line with its targets. In individual life …
Southfield, Mich.-based specialty property/casualty insurer Meadowbrook Insurance Group reported second-quarter net income of $2.8 million, or 10 cents per diluted share, compared to net income of $2.7 million, or 9 cents per diluted share, a year ago. Meadowbrook said the …
The head of the U.S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA) announced Friday that President Bush has ordered the release of federal disaster funds and emergency resources for Florida to aid people battered by Tropical Storm Bonnie …
Georgia Gov. Sonny Perdue has declared a state of emergency in preparation for the impact from Hurricane Charley, which continued its romp across Florida Friday evening. The state of emergency will continue to midnight Aug. 18, or until the end …
As local, state and federal officials and volunteer organizations prepare to assist residents affected by Hurricane Charley, the Department of Financial Services is gearing up to quickly help thousands of Floridians who will need assistance in filing insurance claims, Chief …
Risk Management Solutions (RMS), a provider of products and services for the management of catastrophe risk, has updated its forecast and loss estimates (See National news) for Hurricane Charley to reflect changes in the storm’s behavior on Friday. The storm …