Stephen Way, chairman and CEO of Houston-based HCC Insurance Holdings, Inc. announced that the company had reached an agreement to acquire Covenant Underwriters, Ltd. and Continental Underwriters, Ltd., both headquartered in Covington, La. Terms of the transaction were not disclosed, …
A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) of Dao Heng Insurance Company Ltd (DHI), Hong Kong. The outlook is stable. The rating reflects DHI’s secure capitalization, consistent underwriting profitability and short-tail risk exposure. A.M. Best …
Computer Sciences Corporation announced the availability of Exceed(TM), a software system available for the property and casualty/general insurance industry. CSC designed Exceed to help large insurers reduce costs, improve service and react quickly to market changes. Exceed integrates all areas …
Lumbermens Mutual Casualty Co., flagship of Long Grove, Ill.-based Kemper Insurance Cos., announced that it and two Berkshire Hathaway Inc. affiliates, National Indemnity Co. and National Fire & Marine Insurance Co., have commuted two reinsurance agreements entered into the past …
Thousands of New Yorkers will reportedly find it much easier to protect their automobiles, homes and businesses now that Gov. George Pataki has signed into law an urgently needed bill strongly supported by the Independent Insurance Agents Association of New …
Standard Insurance Company and Crawford & Company announced an agreement to develop an integrated disability management (IDM) service. The agreement combines the disability insurance expertise of The Standard with Crawford’s workers’ compensation administration experience. “An IDM approach reduces the administrative …
Eduardo Rodriguez, 61, a former governor of Quezon Province in the Philippines, was held to answer on multiple charges, including reportedly faking the deaths of his mother-in-law and wife to illegally collect more than $150,000 on insurance policies. Rodriguez was …
Ohio-based State Auto Companies went to federal court Monday asking that dissident shareholder Gregory Shepard be ordered to reportedly correct “intentional misrepresentations and omissions” in public statements, and in legal papers filed in connection with his bid to take over …
Aon Corp. announced the official opening of its new permanent offices in New York City, downtown at 199 Water St. and midtown at 55 E. 52nd St. The two new facilities will permanently replace those lost in the Sept. 11 …
Standard & Poor’s Ratings Services announced that it has revised its public information-based counterparty credit and insurer financial strength ratings on Mannheimer Lebensversicherung AG to ‘R’ from ‘CCCpi,’ and noted that “an insurer rated ‘R’ is under regulatory supervision owing …