Insurance
Liberty Mutual Group Postpones IPO
Liberty Mutual Group is postponing the initial public offering of stock in Liberty Mutual Agency Corp., citing “the stalled economic recovery, volatile stock market and undervalued property and casualty insurance stock prices.”
Survey: Financial, Insurance Sales Representatives Need Coffee The Most
A recent survey commissioned by Dunkin’ Donuts and CareerBuilder found that those working in finance and insurance are some of the workers that need coffee the most.
Sources: AIG, Feds Move Closer To Deal On Bailout Exit
American International Group Inc. and the federal government are moving closer to a deal on how the Treasury Department would exit its investment in the bailed-out insurer, sources familiar with the situation said on Sunday.
A.M. Best Re-Assesses Position On Hingham Mutual Fire
Rating company A.M. Best Co. has removed ratings from under review, with positive implications, and assigned a stable outlook to a pair of Hingham-based insurers.
Insurers Inflamed Over Quincy Fire Law
To hear Mike Rivera tell it, the services provided by his company, Fire Recovery USA, are old news. But to many in the insurance industry, Rivera’s company is bringing a new and dangerous trend to Massachusetts.
Report: Bank Life Insurance Sales Increase In Q2
There were significant gains for life insurance sales through banks during the second quarter of 2010, according to the quarterly Kehrer-LIMRA Bank Life Report.
Insurers Left Wondering How To Legally Tweet
Insurance and financial services companies have to follow a boatload of compliance regulations regarding how they advertise their services. But those rules are now being shoehorned into the hectic, informal world of social media, which has firms wading into murky waters.
MassMutual Awards $135K In Scholarships
Springfield-based Massachusetts Mutual Life Insurance Co. (MassMutual) has awarded $135,000 in scholarships to students.
Sword Insurance Relocates HQ To Boston
Sword Insurance has relocated its North American headquarters in Portsmouth, N.H. to 51 Sleeper St. in Boston.
The Hanover Insurance Group Expands Small Commercial Capabilities
Worcester-based The Hanover Insurance Group Inc. has made a number of investments to strengthen its small commercial capabilities.
The Hanover Insurance Group Declares Quarterly Dividend
Worcester-based The Hanover Insurance Group Inc.’s board of directors has declared a dividend of 25-cents per share on the issued and outstanding common stock of the company.
Report: Ownership Of Individual Life Insurance Falls To 50-Year Low
Despite the fact that most American families have less to fall back on financially than when the economic downturn began, ownership of individual life insurance has hit a 50-year low, according to a new study by Windsor-based LIMRA.
William Gallagher Acquires Paradigm Assoc.
William Gallagher Assoc. (WGA), which provides insurance brokerage, risk management and employee benefit services, has acquired Braintree’s Paradigm Assoc.
Liberty Mutual Group’s Expands Business To China
Boston insurance giant Liberty Mutual Group has been granted approval to begin branch operations in Zhejiang by the China Insurance Regulatory Commission (CIRC).
A.M. Best Casts Negative Implications Over Hancock Parent
The Manufacturers Life Insurance Co. and its John Hancock insurance subsidiaries are under review by A.M. Best, with negative implications.
Fla. Insurance Co. To Expand To Bay State
United Insurance Holdings Corp., a St. Petersburg, Fla., property and casualty insurance holding company, plans to submit applications to write property and casualty insurance in Massachusetts and five other states.
AIG Beats Street, Starts Talks On Gov’t Exit
American International Group Inc. reported better-than-expected quarterly results on Friday and said it had started talks on disentangling itself from the U.S. government.
The Hanover Profits Plummet
Second quarter profits at The Hanover Insurance Group plummeted 96 percent compared to a year ago, with the Worcester-based insurer booking a $2.3 million profit amid $85 million in catastrophe losses.
Safety Insurance Profits Creep Up In Q2
Safety Insurance Group Inc. reported second quarter profits of $15.1 million, up slightly from a $15 million profit a year ago.
OneBeacon Appoints President for Newest Business
OneBeacon Insurance Group has appointed Dennis Crosby as president of the Canton-based company’s newest business, Excess and Surplus Lines.