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Insurance News Update
| Social Media Postings Lead to Firing of Texas Executive Houston-based Francesca’s Holdings Corp. reported it has fired its chief financial officer, saying that he improperly communicated company information through social media. But the women’s clothing retailer also raised its fiscal first-quarter earnings estimate, citing better than expected sales. Its … Activists? Study Doubts Safety at California Nuke Plant A report commissioned by an environmental group warned Tuesday that running California’s San Onofre nuclear plant at reduced power would not resolve problems with badly worn tubing that have kept its twin reactors offline for more than three months ? … MarshBerry Welcomes Lieblein as Executive Vice President Cleveland, Ohio-based provider of consulting services for independent insurance agencies and brokers, MarshBerry, has added Rob Lieblein as an executive vice president. Lieblein primary responsibilities will include financial management consulting, merger and acquisition advisory, and business planning. Lieblein brings with … Tsunami May Have Sent Floats To Washington More than two dozen floats ? many with Asian writing and logos ? found May 5 on Dungeness Spit during the first beach cleanup of the season. The floats are apparently part of the debris from the March 2011 Japanese … Virginia County Says Goodbye to Quake-Damaged School Louisa County, Va., said goodbye to an elementary school that was damaged by last year’s earthquake. The Daily Progress reports that Louisa County Public Schools held a closing ceremony for Thomas Jefferson Elementary School last Friday, where several generations of … Texas Cabinet Company Fined for Safety, Health Violations Federal regulators recently proposed fines against a Texas-based cabinet manufacturer over safety and health violations. The U.S. Department of Labor’s Occupational Safety and Health Administration has cited Zamco Inc., doing business as Concepts in Cabinetry, with 14 safety and health … N.H. House Votes to Ban Health Exchange The House has voted again to bar New Hampshire officials from planning, creating or participating in a state health-care exchange. The House voted Tuesday to add the health exchange prohibition to a Senate bill that guarantees health insurance to people … Investor Paulson to Scale Back His Activist Role in Hartford?s Shares John Paulson, the hedge fund manager who has been pressuring The Harford to break itself apart to maximize shareholder value, appears satisfied with the insurer’s restructuring effort. Paulson’s hedge fund firm, Paulson & Co. Inc., announced in a federal regulatory … Missouri House Approves Bill on Suing Co-Workers Missouri lawmakers have sent the governor legislation prohibiting workers from suing each other for accidental on-the-job injuries. The bill would allow such lawsuits only in cases where one worker ?purposefully and dangerously? injures another. The House gave the measure final … Aqua Underwriting Enters UK Commercial Market with High Net Worth Products UK-based Aqua Underwriting announced the launch of a range of niche commercial combined products exclusively for brokers, building on its success with high net worth (HNW) products in the personal lines market. Aqua said its “first commercial products and schemes … |
Reinsurance News Update
| Lloyd\'s of London unveils long-term strategic initiative Lloyd's of London is looking toward greater growth in new markets as part of a long-term strategy unveiled Friday. PLUS: Watch our exclusive video interview with Lloyd's America President Hank Watkins. July reinsurance renewals could see price hikes in loss-affected sectors: Fitch July reinsurance renewal price increases likely will “be restricted to loss-affected sectors” absent large insured losses for the reinsurance industry, Fitch Ratings Ltd. in London said Wednesday. Catlin premiums rise 12% in first quarter of 2012 HAMILTON, Bermuda—Catlin Group Ltd. on Friday reported a 12% rise in gross premiums written for the first quarter of 2012. Munich Re first quarter profit meets view on low damage claims FRANKFURT (Reuters)—The world's biggest reinsurer, Munich Re, swung back to profit as expected in the first quarter, helped by rising investment income and damage claims far below those from devastating earthquakes in Japan and New Zealand a year... Catastrophe bond issues break record in first quarter: Study The first quarter of 2012 was the most active quarter on record in the catastrophe bond market, according to data compiled by New York-based GC Securities, a division of MMC Securities Corp. and an affiliate of reinsurance brokerage Guy Carpenter & Co. L. XL Group reports $165.2M in profits for first quarter DUBLIN—XL Group P.L.C. on Wednesday reported first quarter profits of 2012 of $165.2 million, compared with a catastrophe-driven net loss of $162.9 million during the same period a year ago, XL said Tuesday. Reinsurance Assn. of America names officers for 2012-2013 WASHINGTON—The Reinsurance Assn. of America has announced its new officers for 2012-2013 at its 44th Annual Meeting of Members. Allianz\'s preliminary results show 60% rise in first-quarter net income MUNICH—Net income for Allianz S.E. in the first quarter of 2012 topped €1.4 billion ($1.83 billion), up nearly 60% from the €915 million ($1.20 billion) over the same period in 2011, according to preliminary figures released Wednesday. Endurance Specialty names two to executive positions PEMBROKE, Bermuda—Property/casualty insurer and reinsurer Endurance Specialty Holdings Ltd. Alterra reports $79 million profit for first quarter HAMILTON, Bermuda—Alterra Capital Holdings Ltd. reported a profit of $79.0 million for the first quarter of 2012, compared with a net loss of $46.7 million for the same quarter of 2011. |