Leadership & Strategy
Tower Group Reports $500M Loss for Second-Quarter 2013, Job Cuts
On Friday, Tower announced a second-quarter loss of more than $0.5 billion, with previously disclosed reserve and goodwill charges contributing to the result. The company also said it is cutting ...
The Hartford Pledges $100,000 to Typhoon Haiyan Relief Efforts
The Hartford announced Thursday that it has pledged $100,000 to the American Red Cross disaster relief efforts in support of those affected by Typhoon Haiyan in the Philippines. The contribution ...
What Makes a Successful P/C Carrier CIO—and How to Know If You Have One
Triumphant Mutual and Victorious Insurance Co. seem like two peas in a pod. They're similarly sized property/casualty insurers that write personal lines and small-business insurance. But look closer. ...
Tower Update: We Will Meet Obligations, CEO Says
A day after Tower Group International Ltd. disclosed "substantial doubt about the company's ability to continue as a going concern," a letter from the carrier's CEO reassured business partners that ...
Philadelphia Insurance, Travelers Donate for Typhoon Relief
Philadelphia Insurance Companies and The Travelers Companies, Inc . each announced donations to the American Red Cross last week to provide relief to the people affected by Typhoon Haiyan in the ...
RLI Declares $3.00 Special Dividend and Two-for-One Stock Split
Late Thursday, RLI Corp. announced that its board of directors has declared an extraordinary cash dividend of $3.00 per share of common stock, which is expected to total approximately $65 million, ...
Tower Restating Prior Financials; ‘Going Concern’ Status in Doubt
Tower Group International Ltd. announced Thursday that it is restating previously filed audited annual consolidated financial statements for 2011 and 2012, which are contained in Tower's March 31, ...
Agent Commissions Steady But Rising Ad Costs Lift Expense Ratios: Fitch
Even though revenues have climbed for property/casualty insurers in the recent years, underwriting expense ratios "remain stubbornly high," according to a new report by Fitch Ratings. Fitch's ...