American International Group, Inc. (AIG) yesterday
reported that its net income for the second quarter of 2002 increased 37.0 percent to $1.80
billion, compared to $1.31 billion in the second quarter of 2001. For the first six months of
2002, net income totaled $3.78 billion, an increase of 19.3 ...Read More
American International Group, Inc. (AIG) announced Friday its intention to purchase from time-to-time in the open market shares of its common stock, depending upon market conditions.
The Board of Directors has authorized the purchase of up to 10 million shares.
The company will a...Read More
Arthur J. Gallagher & Co. (NYSE: AJG) Friday announced its financial results
for the second quarter and six months ended June 30, 2002.
For the six months ended June 30, 2002, total revenues were $526,253,000,
compared to $430,599,000 last year, an increase of 22%. Net earnings were
Miami-based Aries Insurance Co., which sells auto, workers' compensation and commercial property insurance, continues to not renew policies even as it works with state regulators to improve its financial picture, says the South Florida Sun-Sentinel.
The company was placed in rehabilitatio...Read More
New York Insurance Superintendent Gregory V. Serio's decision to allow insurers to build "catastrophe loads" into their workers' compensation reserves is a positive step toward dealing with potential disasters, according to the American Insurance Association (AIA).
"Workers' compensation in...Read More
American Physicians Capital, Inc. (APCapital) (Nasdaq: ACAP) announced yesterday that its A- "Excellent" rating has been reaffirmed by A.M. Best Company, the insurance rating organization. This rating applies to the APCapital group and its insurance subsidiaries, American Physicians Assurance Corpor...Read More
To combat isolated and lower dollar amount instances of insurance fraud, the Arizona
Department of Insurance Fraud Unit is implementing a citation-in-lieu-of-detention program
on August 1, 2002, starting in Maricopa County.
Those who commit single, lower dollar amount acts of insurance fr...Read More
Australian Financial Review published a story last week reporting that Australian Business Ltd., a key business lobbying group in the country, called on the New South Wales (NSW) Government to overhaul the state's controversial workers' compensation system, establish an independent body to operate i...Read More
The Edmonton Sun reported last week that the Workers' Compensation Board (WCB) of Alberta, Canada, has promoted insider Guy Kerr to president and CEO, with a $200,000 base salary and eligibility for another 35% in variable pay, pension and benefits.
The story is of interest to Albertans b...Read More