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Dallas National Insurance Company, or DNIC, has chosen The Stingray System for the processing of their personal and commercial lines of business. The company said The Stingray System from Maximum Processing will be utilized for policy, billing and claims, imaging and reinsurance processing. It said the system provides workflow, imaging, and many third party interfaces [...]
Archive for August 31st, 2010
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French Axa trims holding in US Goldman Sachs
Posted by gary on August 31st, 2010
French insurance company Axa (EPA:CS) has reduced its stake in US Goldman Sachs (NYSE:GS) to 2.8% from 4.8% held earlier, data of the US Securities and Exchange Commission (SEC) showed today. According to the documents, the French insurer sold 14m shares of the investment bank for January to June, thus taking itself down its position [...]
QBE may look outside for chief’s successor
Posted by gary on August 31st, 2010
QBE Insurance has rejected rumours about an imminent executive search for a replacement for CEO Frank O’Halloran, sparked by a report in UK magazine “Insurance Investor”. It had named Aon head and native Australian Peter Harmer as the chosen candidate. While an outside appointment had not previously been expected, experts note that the most often [...]
IDS Property Casualty Insurance Company Rating
Posted by gary on August 31st, 2010
.M. Best Company has made the following rating update: Company: IDS Property casualty insurance Company AMB Number: 3563 Current Rating: A Previous Rating: A Incorporated by Ciak, Kenneth J., Dianne L Wilson, Larry W Frazier, Rebecca A Nash, Thomas R Moore, Walter S Berman, Ids Property casualty insurance Company is located at 3500 Packerland Dr [...]
Best’s Rating Notification – Ameriprise Insurance Company
Posted by gary on August 31st, 2010
A.M. Best Company has made the following rating update: Company: Ameriprise Insurance Company AMB Number: 13104 Current Rating: A Previous Rating: A Ameriprise offers a full range of high-quality insurance products through our affiliates, RiverSource life insurance Company, RiverSource life insurance Co. of New York and Ameriprise Auto and Home. Collectively, RiverSource life insurance Company [...]
Iowa Charges Insurers $4 Million for Second Injury Fund.
Posted by gary on August 31st, 2010
In the Iowa Insurance Division’s routine evaluation of the state’s Second Injury Fund, the agency determined that the fund’s projected claims liabilities couldn’t be met. So, insurers in the state are being assessed $4 million, due by Sept. 30. Notices were mailed to the companies — including self-insured employers — to explain the 2010 assessments. [...]
GNY Insurance Names President and COO
Posted by gary on August 31st, 2010
GNY Insurance Cos. said it’s promoted Elizabeth Heck to president and chief operating officer. Heck, who’s been in the insurance industry for more than 20 years, joined GNY Cos. in 2001 as controller. She was promoted to senior vice president, chief financial officer and treasurer in 2005, and promoted again in 2008 to executive vice [...]
Second-Quarter US Sales of Fixed Annuities Drop 30%, but Rate Advantage Over Treasuries Improved
Posted by gary on August 31st, 2010
Total second-quarter U.S. sales of individual fixed annuities, including equity-indexed, declined 30% from the same period a year ago, to about $19.4 billion, according to Beacon Research and the Insured Retirement Institute. The second quarter marks the fourth consecutive quarter that sales dropped year over year. For the first six months of this year, sales [...]
