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08, 2016
EPIC Sells Northern California Office to InterWest
EPIC Insurance Brokers & Consultants has sold its Petaluma, Calif. branch office and its book of business to Sacramento-based InterWest Insurance Services. The deal closed on July 31. Terms were not disclosed. EPIC is a retail property/casualty and employee benefits …
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07, 2016
Generali Q2 Net Income Falls 6% on Low Interest Rates & Volatile Equity Markets
Assicurazioni Generali SpA, Italy’s biggest insurer, said second-quarter profit fell 6 percent as low interest rates and volatile equity markets hurt investment gains. Net income declined to 590 million euros ($654 million) from 626 million euros a year earlier, the …
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07, 2016
QBE to Supply General Insurance Products for Manulife Customers in Hong Kong
Manulife (International) Ltd. and QBE Hongkong & Shanghai Insurance Ltd. have formed an exclusive distribution agreement whereby QBE will supply general insurance products in Hong Kong for distribution through Manulife’s agents. Designed to complement Manulife’s life, pensions and wealth management …
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07, 2016
Hazard Warnings: Who Should Be Warned to Do What and When?
A group of risk experts is proposing a new framework to improve the effectiveness of public warnings when a hurricane, wildfire, toxic chemical spill or any other environmental hazard threatens safety. Right now, “the potential for errors is high” when …
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07, 2016
AXA, Alibaba and Ant Financial Services Form Global Strategic Partnership
AXA, Alibaba and Ant Financial Services have formed a global strategic partnership to explore opportunities to distribute AXA’s insurance products and services through Alibaba’s global e-commerce platforms. The companies plan to work together to develop products and services, while developing …
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07, 2016
Hartford Net Income Down 48% in Q2 on Weakened Underwriting Results, Investment Income
The Hartford reported net income of $216 million in second quarter 2016 ended June 30, a decrease of $197 million or 48 percent from second quarter 2015, principally due to lower property/casualty underwriting results and lower net investment income. The …
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07, 2016
U.S. Moves to Guard Blood Supply After Reports of Zika Virus in Florida
The U.S. Food and Drug Administration has ordered all blood collection centers in Florida’s Miami-Dade and Broward counties to stop collecting blood as state health department officials continue to investigate four possible cases of local transmission of the Zika virus. …
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07, 2016
AIG Offers Brexit Coverage in UK for Anxious Executives
American International Group is coming out with new Brexit coverage in the UK for anxious executives, barely weeks after the fateful British vote to pull out of the European Union. AIG division AIG UK will handle the product launch, which …
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07, 2016
CastlePoint National Conserved by California Regulator to Protect Policyholders
CastlePoint National Insurance Co., the sole remaining carrier member of the Tower Group, was placed into conservation on Thursday by order of the San Francisco Superior Court to protect policyholders and injured workers covered under policies issued by CastlePoint and …
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07, 2016
Brokers Assess Current Construction Insurance Market: Thumbs Up
Amid ups and downs, the construction market has nevertheless enjoyed steady growth over the past four years. Now construction insurance specialists believe the market is really heating up. The competition has carriers maintaining a market favorable to buyers, especially those …