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Insurance Company to Buy 10 Percent of Kennedy Wilson
Guardian Life Insurance Co. of America announced on Friday it will purchase a 10 percent interest in Beverly Hills-based Kennedy Wilson, a real estate investment firm. This new capital allows our company to take maximum advantage of the cur...
Downey Sees Better-Than-Expected Loss, Other Indicators Worsen
Newport Beachs Downey Financial Corp. reported a better-than-expected loss but several other indicators for the savings and loan operator worsened in the third quarter. Downey, which is wrestling with a rising tide of bad mortgages, reporte...
JAPAN'S DAI-ICHI LIFE EYES 20-30% DIVIDEND YIELD
Japan's Dai-ichi Life Insurance Co. (TSE:8750) will aim for a dividend payout ratio of 20-30 per cent, President Koichiro Watanabe said at a news conference Thursday. In paying dividends to our shareholders, we will secure a payout ratio on...
Insurance Suits Settled for $37 Million
State insurance regulators announced Friday they have settled four lawsuits stemming from the 2003 failure of Glendale workers compensation insurer Fremont Indemnity Co. The settlements are expected to net $37 million for the states insuran...
STEC Shares Soar on Q2 Outlook, Higher Analyst Estimates
Shares of Santa Anas STEC Inc., a maker of flash drives for corporate and industrial uses, soared Tuesday after the company upped its outlook for the current quarter. Investors drove shares up about 27% at close of trading on a recent marke...
L.A.'s Abraxis Moves R&D to Costa Mesa
Los Angeles-based cancer drug maker Abraxis BioScience Inc. has moved its research and development operations to Costa Mesa. Abraxis BioScience, which makes breast cancer drug Abraxane, moved 100 workers from Marina del Rey last month to a...
BPS Resolver Expands Partnership with CRSTL Solutions
BPS Resolver, a Governance, Risk and Compliance software provider, announced a partnership with CRSTL that will allow them to supply customers with legal and regulatory content on a subscription basis. We are very excited to be expanding ou...
IIW Insurance Services to merge with Bass Underwriters
IIW Insurance Services, Inc. has agreed to merge with Bass Underwriters, Inc. Both the companies are US-based excess and surplus lines brokers specialized in commercial property and casualty insurance. Deal Type MergerDeal Status Announced:...
XL Insurance unveils new professional liability policy for small A&E firms
XL Insurance, the global insurance operations of XL Capital, has unveiled XLsmartadvantage, a new professional liability insurance program specifically designed for small architectural and engineering firms. The XLsmartadvantage professiona...
Drought Insurance Not Included in Forest Insurance
Currently, the forest insurance does not cover the insurance for drought, according to available information. Actually, the forest insurance covers the insurance for fire accident, flood, rainstorm, hailstone, snowstorm, typhoon and so fort...
Lexington Insurance launches new insurance coverage
Lexington Insurance Company has introduced LexNanoShield, a new insurance product and array of risk management services designed for firms whose principal business is manufacturing nanoparticles or nanomaterials, or using them in their proc...
CRM Holdings Leads Tuesday's AMBG as Global Insurance Index Declines 0.21%
The AMBG closed Tuesday, March 30 at 858.56 (-0.21%). Of the 15 A.M. Best stock indexes, three rose and 12 declined. Leading A.M. Best's Global Insurance Composite Index (AMBG) were CRM Holdings (+7.62%) and Fuji Fire Marine Insurance (+4.3...
Lexington Insurance launches new insurance coverage
Lexington Insurance Company has introduced LexNanoShield, a new insurance product and array of risk management services designed for firms whose principal business is manufacturing nanoparticles or nanomaterials, or using them in their proc...
FDIC Warns Clermont Bank to Raise Capital or Find Buyer
The Federal Deposit Insurance Corp. gave AmericanFirst Bank in Clermont 30 days to raise capital or sell itself to another financial institution March 26. The FDIC described the bank as critically undercapitalized. Officials at AmericanFirs...
Guangdong Development Bank to Finance CNY10-15bn Before IPO
Guangdong Development Bank, which is busy making preparation for an IPO on the Mainland China stock market, is said to be weighing a plan to raise CNY 10 billion to CNY 15 billion via issuing additional shares to existing shareholders. The...
Giving Arms of OC's Largest Companies Grant $145M
Orange Countys corporate foundations and giving programs gave $144.7 million to local, regional and national charities in the past year or so. Their assets came in at $2.2 billion. The giving programs, listed alphabetically on this weeks Bu...
Zenith Profits Rise Despite Revenue Decline
Zenith National Insurance Corp. said Tuesday its third quarter profit rose more than 15 percent on improved investment returns, exceeding Wall Street expectations. After the markets closed, the Woodland Hills workers compensation insurer re...
Costa Mesa Bank Operator Swings to Loss
Costa Mesa-based bank operator Pacific Premier Bancorp Inc. reported a third-quarter loss Wednesday after setting aside more cash to cushion against bad loans and paying more to the Federal Deposit Insurance Corp. as part of its bid to rebu...
Judge Rules in Favor of Astani Condo Sales
A U.S. bankruptcy court judge ruled this week that the sales of 77 condos at the Concerto development in downtown can be completed despite opposition by the Federal Deposit Insurance Corp. The judge also said that the expected $31 million i...
Poizner Not Supportive of Workers Comp Rate Hike
State Insurance Commissioner Steve Poizner on Monday rejected an industry boards recommendation to sharply increase workers compensation rates, citing the weak economy and high unemployment. In September, the Workers Compensation Insurance...
Dispute Over Fraud Case Claims at Former Pacific Life Unit
A legal fight could be brewing between Newport Beach-based Pacific Life Insurance Co. and Boston-based stock brokerage company LPL Investment Holdings Inc. A dispute could come down to which company is liable for millions of dollars in clai...
Disgruntled AIG Shareholder Files Suit in L.A.
In the latest in a series of legal actions taken against beleaguered insurer American International Group Inc., a retired California judge is seeking to recover millions of dollars in executive bonuses on behalf of company shareholders. The...
One Problem Loan Leads to Larger Net Loss for 1st Pacific
1st Pacific Bancorp blamed most of its amended $21 million net loss for 2008 on a single, unsecured land development loan that it had to classify as charged off or uncollectible. The problem loan of $6.9 million was for a residential/commer...
Innovative Stimulus Plan Makes the National News
When a dependable source of revenue for the City of Lancaster dried up as the recession worsened and consumers cut back their spending, it opened the doors for new ideas and new thinking at City Hall. While a change in the culture of city g...
Bartlett,Sullivan to discuss economic impact of Chili Bowl
Mayor Dewey Bartlett and Congressman John Sullivan meet with organizers of the 24th Annual Chili Bowl Nationals in Tulsa to discuss the events economic impact on the Tulsa area. The Chili Bowl Nationals are held each winter in the QuikTrip C...
BOK Financial buys rights to $4.1 billion in mortgages
Tulsa-based BOK Financial Corp. has acquired the rights to service a $4.1 billion portfolio of mortgage loans from Albuquerque-based Charter Bank. The 34,400 loans are largely concentrated in New Mexico, with the remainder representing Texas...
Barney & Barney Associates Rise to the Top
A specialty business publication has singled out two insurance brokers from Barney Barney LLC as tops in their field, the insurance firm said March 4. Risk Insurance magazine calls them Power Brokers. The winners are principal Mike Milligan...
Today's Picks
AIG Confirms Loss of Directors at Banque AIG
(BestWire Services Via Acquire Media NewsEdge) American International Group Inc
Kingsway Financial Services Leads AMBG Tuesday that
The AMBG closed Tuesday, Oct. 20, at 830.53 (-0.80%). Of the 15 A.M. Best stock
Divided Democrats Put Obama In Health Care Bind
As President Obama struggles to regain control of the health care debate, he's
Why Does This Doctor Want to Be a Lawyer?
S In December, the same month he turns 44, Levine will graduate from Stetson
Washington State Enacts STOLI Bill With Mandatory
Washington Gov. Christine Gregoire signed a life settlement bill that includes
Sun Alliance Expects to Make Profit in 2010
The premium revenue Sun Alliance Insurance (China) Ltd. gained in China in the
Sens.Dodd,Corker Try to Bring New Life to Financial
Sen. Chris Dodd, the chief author of the Senate's financial system reform
Six in ten say Turn off family medical care because of
Copyright: Unknown Source: PR Newswire US Wordcount: PUBLIC CONTINUES TO
Rising unemployment forces in Florida, 21 other states
Rising unemployment has now forced 22 states, including Florida, to borrow
Hanover Insurance launches new management liability
US-based The Hanover Insurance Group has launched a new nonprofit management
Geithner seeks new powers over financial corporations
Copyright: The Associated Press. All rights reserved. This material May not be
Mitsui Sumitomo To Offer Coverage Against Cloud Risk
Mitsui Sumitomo Insurance Co. is offering companies protection against computer
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