Insurance industry
Scottish Re Group Limited, a global life reinsurance specialist, has announced the retirement of Michael C. French as Chairman of its Board of Directors. French, who has served as Chairman since 2000 and has been a Director since 1998, will continue to serve as a non-executive Director. French played a
Insurance industry
Glenn S. Schafer, a seasoned executive with over 20 years of experience in the insurance industry, has been appointed as the new Chairman of the Board of Directors of Scottish Re Group Limited, following the retirement of Michael C. French. Schafer, who has been re-elected to the Board of Directors,
Insurance industry
A late-day rally sparked by a decline in oil prices sent US share prices higher on Friday, erasing earlier losses tied to Pfizer's disappointing forecast and a wider-than-expected trade deficit. The rally was led by insurance companies, with Aon, a major insurance broker, reporting a significant increase in
Insurance industry
Aon Corporation (NYSE:AOC), Allied Waste Industries (NYSE:AW), Apollo Group (NASDAQ:APOL), Sunoco (NYSE:SUN), and Phelps Dodge (NYSE:PD) were among the top performers in the S&P 500 Index on February 10, 2006, according to Schaeffer's S&P 500 Index Hot Stocks. The
Insurance industry
Annuity rates are plummeting as numerous pension providers have reduced their rates in recent weeks, leaving pensioners facing lower incomes in retirement. This trend is largely attributed to the fall in government bond - or gilt - yields, which annuities are tightly linked to. Pension providers such as Norwich Union,
Insurance industry
Norwich Union announced yesterday that it was increasing the final bonus rates for the majority of its with-profits customers, following a strong return of nearly 18% in its main with-profits fund during 2005. The group attributed the high return to its investment strategy, which saw 72% of its main fund
Insurance industry
Maurice R. Greenberg's legal team has expressed concerns over the possibility of American International Group Inc. (AIG) settling accounting fraud allegations without his involvement. The settlement talks, reportedly valued between $1 billion and $1.5 billion, are being led by the office of New York state Attorney General
Insurance industry
Gary Linsey Slater, the owner and operator of a Kentucky employment agency for coal mines, has been sentenced to 108 months in prison and ordered to pay $5 million for his involvement in a scheme to defraud two workers' compensation insurance companies. Slater's agency, which employed more
Insurance industry
Safeway, a Fortune 50 company, has partnered with major health care insurers to provide customers with information and guidance on the new Medicare Part D prescription drug program. The alliance involves Blue Cross and Blue Shield of Illinois, Blue Cross and Blue Shield of Texas, Health Net, and PacifiCare Health
Insurance industry
In a significant move in the health insurance industry, WellPoint, Inc. and WellChoice, Inc. have completed their merger, creating the largest publicly traded commercial health benefits company in the United States. The merged company, WellPoint, Inc., now serves approximately 34 million medical members across 14 states and several other states
Insurance industry
PMA Capital Corporation, an insurance holding company headquartered in Blue Bell, Pennsylvania, has welcomed Thomas A. Klaus as its new Vice President - General Auditor. Klaus reports directly to Robert Pratter, Senior Vice President - General Counsel and member of the Audit Committee of the Board of Directors. In his
Insurance industry
Paula Rosput Reynolds, the newly appointed CEO of Safeco Corporation, brings a wealth of experience in managing diversified risk, having led AGL Resources through a turnaround and transforming it into a multistate, integrated energy company. Reynolds, who previously served as chairman, president, and CEO of AGL Resources, has spent 27
