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07, 2016
Social Services Safety Group Gets $867K Texas Mutual Dividend
Texas Mutual Insurance Co. has awarded a dividend of $866,958 to the Social Services Agencies of Texas workers’ compensation safety group. The dividend was earned based on the group members’ dedication to making safety a priority in their businesses and …
7
07, 2016
Hedge Fund Insurers Struggle in Crowded Market with Poor Investment Results: S&P
Hedge fund firms that set up reinsurance companies will struggle because too many rivals had the same idea and investment results have been disappointing, according to a report from S&P Global Ratings. Money managers entered the reinsurance business to gain …
7
07, 2016
Houston-Based Employee Benefits Firms to Merge
Advantage Benefits Solutions (ABS) and Collins Benefits Solutions, both based in Houston, are merging. Together, the two employee benefits firms manage collective premiums of $58 million, according to the merger announcement. The merger is led by Mark Stefanick of Advantage …
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07, 2016
Judge Reduces Johnson & Johnson $500M Implant Verdict Citing Texas law
A U.S. judge has slashed a $500 million verdict against Johnson & Johnson and its DePuy unit over allegedly defective metal-on-metal Pinnacle hip implants to approximately $151 million. On Tuesday, U.S. District Judge Ed Kinkeade in the Northern District of …
7
07, 2016
Kemper Adding Dufala as Property/Casualty Division President
Insurer Kemper Corp., headquartered in Chicago, announced that George “Chip” D. Dufala Jr. will join the company as president, Property & Casualty Division, effective July 18. Dufala will report directly to Joseph P. Lacher Jr., Kemper’s president and chief executive officer, …
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07, 2016
New York Agrees to ‘Principle-Based’ Reserving Rule for Life Insurers
New York state’s top financial regulator, Maria Vullo, agreed to adopt new industry-supported reserve requirements for life insurers, departing from a predecessor who derided the shift as ” unwise.” The move aligns the state watchdog with the National Association of …
7
07, 2016
Michigan Agency, BHS, Joins RiskProNet International
Michigan-based insurance agency, BHS, has joined RiskProNet International, an association of independent insurance brokers in North America. Founded in 1939, BHS has a history of providing innovative products, services and expertise for the businesses and families it serves. BHS offices are …
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07, 2016
Taiwan Readies for Typhoon Nepartak; AIR Worldwide Comments
Taiwan told schools and offices along its eastern coast to close early Thursday as Typhoon Nepartak threatens to unleash strong winds and heavy rain across the island through Friday. Airlines canceled or rerouted flights in and out of Taiwan. The …
7
07, 2016
Miller Named Communications, Marketing Manager at LevelFirst
Dallas-based wholesale broker and MGA, LevelFirst, has appointed Eric Miller as communications and marketing manager. Tasked with overseeing the relaunch of the website and redesign of sales materials, Miller joined LevelFirst in January on a contract basis. This month, Miller …
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07, 2016
Confie Acquires 2 New York Agencies: Sprague in Corning; Mason in Hancock
National insurance distribution firm Confie has acquired two insurance brokerages in New York State – Lloyd D. Sprague & Son Inc. and J.N. Mason Agency Inc. Confie, a portfolio company of ABRY Partner, has completed 11 acquisitions thus far in 2016. …