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China's Picc Property & Casualty Optimistic On Returns For H2

Chinese insurer PICC Property & Casualty Co., (SEHK:02328) on Monday said that despite the turbulence of the market, it was still optimistic about the company's rate of returns from investment for the second half of the year. Wu Yan, preside...

Kingsway Financial Services is Among the Companies in the Property & Casualty Insurance Industry With the Highest Debt To Asset Ratio

Below are the top five companies in the Property Casualty Insurance industry as measured by their Debt To Asset ratio. The Debt/Asset ratio shows the proportion of a company's assets that are financed through debt. If the ratio is greater t...

Highest Dividend Yield in the Property & Casualty Insurance Industry Detected in Shares of Universal Insurance Holdings (UVE, MCY, OB, CINF, ORI)

Below are the top five companies in the Property Casualty Insurance industry as measured by dividend yield. Dividends can enhance returns for investors seeking income in addition to capital gains. Universal Insurance Holdings (AMEX:UVE) ran...

Markel Ventures acquires assets and operations of Solbern

Markel Ventures, Inc. has acquired the assets and operations of Solbern, LLC, a manufacturer of food processing equipment for both domestic and international markets. All the entities involved in the transaction are based in the US. Markel...

Deposits grow 6.6% as investors seek safety

As investors fled stocks and money-market mutual funds for CDs, bank deposits in Hampton Roads grew 6.6 percent in the 12 months through June, according to the Federal Deposit Insurance Corp. Deposits, the raw material for many loans, tend...

PICC P&C Reinsured Hijacked Cargo Ship

The Chinese cargo ship that was hijacked in the India Ocean belongs to Qingdao Ocean Shipping Co., a unit of China Ocean Shipping (Group) Co. (COSCO), and is underwritten by the Qingdao Branch of PICC Property and Casualty Co., Ltd. (SEHK:...

P/C Insurers Look to Avoid Federal Consumer Protection Agency

The House Financial Services Committee has adopted an amendment ensuring that all lines of property/casualty insurance would be exempted from the jurisdiction of the new proposed federal Consumer Financial Protection Agency. Proposed by Rep...

Georgia's Supreme Court ruled 5-2 in favor of State Farm Mutual Auto Insurance Co., deciding that policyholders cannot engage in so-called "stacking" of uninsured motorist coverage from several commercial policies

Georgia's Supreme Court ruled 5-2 in favor of State Farm Mutual Auto Insurance Co., deciding that policyholders cannot engage in so-called stacking of uninsured motorist coverage from several commercial policies to maximize coverage of one...

American Integrity, Florida Peninsula Ready to Take Dropped Nationwide Policies

Florida domestic insurers, American Integrity Insurance Group and Florida Peninsula Insurance Co., each say they are ready to offer homeowners insurance coverage to Nationwide Insurance policyholders slated to be dropped by the insurer next...

County may face cash flow problem: Bond insurer is reluctant to back $18 million for the county due to its fiscal status, budget official says.

Luzerne County's borrowing of $18 million to get through 2009 has been stalled by reluctance of a bond insurer to back the deal, which means the county could be facing a cash flow problem, county Budget/Finance Chief Tom Pribula said during...

AmTrust Invests in JV to acquire GMAC's U.S. insurance unit

AmTrust Financial Services has entered into an agreement to make a strategic investment in American Capital Acquisition or ACTA, in connection with the acquisition by the CAAC Consumer Goods GMAC U.S. and casualty insurance business. AmTrus...

House That Hank Built To Become Homes

American International Group Inc.s New York headquarters building soon may have some new tenants. Thats because real estate developer Young Woo, who bought the building from AIG earlier this year, intends to convert the top 40 floors of the...

House Approves Rep. Moore's Insurance Bill For Third Time

Rep. Dennis Moore, D-Kan. (3rd CD), issued the following news release: Congressman Dennis Moore [Third District - Kansas] announced Wednesday the unanimous House passage of H.R. 2571, the Nonadmitted and Reinsurance Reform Act, a bipartisan...

Swiss Re Chief Underwriting Officer Warns of Casualty 'Bubble'

Interest rates, the threat of inflation and underpriced casualty business in the insurance industry are all issues on the mind of Swiss Re's Chief Underwriting Officer Brian Gray. The biggest impact of the recession from an underwriting per...

New Consumer Protection Agency Proposal Eases Oversight

Rep. Barney Frank, the chairman of the House's Financial Services Committee who originally introduced the bill to establish a Consumer Financial Protection Agency, has released an updated draft of that bill. Though it makes a number of conc...

Uninsured Drivers On The Increase

FLINT, UNITED KINGDOM -- (MARKET WIRE) -- 09/25/09 -- Ashton West, chief executive of the Motor Insurers Bureau (MIB), has revealed that the number of drivers caught each year driving without insurance is increasing significantly. It is calc...

Trade Concession With Canada Puts All U.S. Drivers At Risk

Canadian trucks and buses on U.S. roadways could escape responsibility for damages if U.S. rules on how the vehicles are insured are relaxed. The National Association of Insurance Commissioners (NAIC) review of a proposal to loosen the requ...

NAIC Credit-Scoring Inquiry Looks Into Insurance-Scoring Firms

Two National Association of Insurance Commissioners standing committees evaluating credit-based insurance scoring turned their sights to the firms that provide insurance-scoring services to insurance companies, exploring whether they should...

Wet 'n Wild Insurance

Wet 'n wild insurance: specialized insurance contracts can help organizations protect revenue should water scarcity put a damper on operations, yet some businesses still seem to prefer praying to the Rain Gods; ALTERNATIVE RISK Brodsky, Mat...

W. R. Berkley Names Senior Vice President of Human Resources

W. R. Berkley Corp. (NYSE: WRB ) said it has named Carol J. LaPunzina as senior vice president of human resources, a new position. She will be responsible for human resource operations and personnel development for the corporation. LaPunzin...

Highline Data Analysis Shows P&C Industry Net Income Down 54%, Life Insurance Industry Shows Signs of Improvement in Second Quarter

The property and casualty insurance industry continued to decline in the second quarter of 2009, with a 54.3% year-over-year drop in net income, according to the Highline Data Performance Monitor. This drop comes on the heels of last quarter...