WellCare to Acquire Universal American Corp. Strengthens Medicare Advantage Business in Key Markets Positions Company for Growth with Addition of High-Quality Medicare Advantage Plans Transaction Expected to be Accretive to Earnings TAMPA, Fla. and WHITE PLAINS, N.Y., Nov. 17, 2016 /PRNewswire/ — WellCare Health Plans, Inc. (NYSE: WCG) and Universal American Corp. (NYSE: UAM) announced today that they have entered into a definitive agreement under which WellCare … Read More
New Workers Comp Study Identifies Differentiators of Higher Performing Claims Organizations CHICAGO, Nov. 16, 2016 /PRNewswire/ — For the first time in its four year history, the annual Workers’ Compensation Benchmarking Study identifies which claims best practices are generating better outcomes. Findings from the just published 2016 study reflect results from a nationwide survey of 492 claims leaders who report on methods that drive success in their organizations. To date, nearly … Read More
Alm. Brand Bank – Interim report Q3 2016 Highlights The bank generated a pre-tax profit of DKK 15 million in Q3 2016, against a loss of DKK 79 million in Q3 2015. The performance was better than expected and satisfactory. The forward-looking activities generated a pre-tax profit of DKK 24 million, which was better than expected. The performance was a year-on-year improvement of DKK 21 million, … Read More
Alm. Brand – Interim report Q1-Q3 2016 Alm. Brand generated a highly satisfactory pre-tax profit of DKK 817 million in 9M 2016. The full-year guidance is lifted by DKK 200 million to a profit of DKK 900-1,000 million. “In the third quarter of 2016, we once again outperformed expectations, and for the nine months ended 30 September, we generated an exceptionally strong overall profit,” said CEO … Read More
James River Group Holdings, Ltd. Announces Retirement of Chief Financial Officer PEMBROKE, Bermuda, Nov. 15, 2016 (GLOBE NEWSWIRE) — James River Group Holdings, Ltd. (NASDAQ:JRVR) today announced that Gregg Davis, the company’s Chief Financial Officer, has announced his intention to retire as of January 2, 2017. J. Adam Abram, Chairman and CEO of James River said, “Gregg Davis has been instrumental in building our company. He has been a great partner … Read More
Too Many Gaps in Mental Health Insurance Coverage – NAMI Survey Report ARLINGTON, Va., Nov. 15, 2016 /PRNewswire-USNewswire/ — A report by the National Alliance on Mental Illness (NAMI) reveals new information about the gap between health insurance coverage of mental health and substance abuse conditions and that of other medical conditions. Out-of-Network, Out-of-Pocket, Out-of-Options: The Unfulfilled Promise of Parity focuses specifically on the limits of in-network mental health care providers and excessive … Read More
TOPDANMARK INTERIM REPORT FOR Q1-Q3 2016 15 November 2016 Announcement No. 67/2016 Key features Q1-Q3 2016 Post-tax profit of DKK 1,127m (Q1-Q3 2015: DKK 861m) EPS was DKK 12.1 (Q1-Q3 2015: DKK 8.4) Combined ratio was 85.1 (Q1-Q3 2015: 85.2) Combined ratio excluding run-off profits was 89.0 (Q1-Q3 2015: 89.0) Premiums declined 1.3% in non-life insurance and increased 23.6% in life insurance Profit on life insurance … Read More
Fort McMurray Wildfires to Cost Governments and Insurers More Than $5 Billion HIGHLIGHTS The insurance industry is estimating $3.6 billion in claims, including $2.4 billion in personal property and $1.2 billion in commercial and industrial payments. The increased economic activity generated by the rebuilding effort will peak with the creation of almost 9,000 jobs next year. The fires reduced oil production by an estimated 47 million barrels in May and June, worth … Read More
Conning–Digital Marketing and Distribution a Key Focus in Small Business Insurance. HARTFORD, Conn., Nov. 14, 2016 /PRNewswire/ — The small business insurance market is increasingly focused on digital marketing and distribution capabilities, which may favor larger carriers, according to a new study by Conning. “Success in the small business insurance market is increasingly being defined by the ability to manage costs, and distribution is at the center of the expense management … Read More
Robert Collins Appointed Head of Standard Commercial Business Unit for Hallmark Financial Services Inc. FORT WORTH, Texas, Nov. 14, 2016 (GLOBE NEWSWIRE) — Hallmark Financial Services, Inc. (NASDAQ:HALL) is pleased to announce that Robert Collins has joined Hallmark to lead the standard commercial product line, Hallmark Commercial Insurance Solutions (CIS). Mr. Collins will serve as the President for CIS and will manage the profitable growth, diversification, and operations of the product portfolio. Hallmark Commercial … Read More
Atlantic American Reports Third Quarter and Year to Date Net Income and Announces a New Share Repurchase Authorization Life and health premiums increased 10.8% and 6.3%, respectively, during the three month and nine month periods ended September 30, 2016 as compared to the comparable periods in 2015. Loss ratio in the property and casualty operation decreased in the nine month period ended September 30, 2016 as compared to the comparable period in 2015. ATLANTA, Nov. 14, 2016 (GLOBE … Read More
Advantage Insurance Acquires U.S. Commonwealth Life in Puerto Rico SAN JUAN, Puerto Rico, Nov. 14, 2016 (GLOBE NEWSWIRE) — Advantage Insurance Inc. (“Advantage”), a leader in providing customized insurance solutions for businesses and individuals, announced today that it recently completed the acquisition of U.S. Commonwealth Life, A.I. (“USCL”). Operating within Puerto Rico’s International Insurance Center, USCL issues life insurance policies to high net worth individuals and family groups to … Read More
AmTrust Financial Services, Inc. Quarterly Report on Form 10-Q for the Third Quarter 2016 to be Available on Monday, November 14, 2016 NEW YORK, Nov. 11, 2016 (GLOBE NEWSWIRE) — AmTrust Financial Services, Inc. (Nasdaq:AFSI) (the “Company” or “AmTrust”) today announced that it has finalized its quarterly report on Form 10-Q for the third quarter 2016 and will submit the Form 10-Q to the SEC for filing. However, the filing will not be available until Monday morning, November 14, 2016, as the … Read More
U.S. Cyber Insurance Market Grows Amid Data Breach Concerns Businesses Opting To Buy Policies That Reflect Sizable Economic Costs Of Cyberrisk NEW YORK, November 10, 2016 — U.S. insurers are becoming more skilled at underwriting and pricing stand-alone cyber insurance policies as businesses show a greater interest in protecting themselves from data breaches and attacks, according to the Insurance Information Institute (I.I.I.). “More than 60 carriers offer stand-alone cyber … Read More
Tokio Marine HCC Ratings Affirmed by Standard & Poor’s With Stable Outlook HOUSTON, Nov. 10, 2016 (GLOBE NEWSWIRE) — Tokio Marine HCC today announced that Standard & Poor’s has affirmed the “AA- (Very Strong)” financial strength ratings for its core insurance company subsidiaries and the “A-” issuer credit rating for HCC Insurance Holdings, Inc. The outlook for these ratings is Stable. “We are very pleased that Standard & Poor’s has affirmed Tokio … Read More
National Interstate Holds Groundbreaking for Its Headquarters Expansion RICHFIELD, Ohio, Nov. 10, 2016 (GLOBE NEWSWIRE) — National Interstate Insurance Company employees, construction and architect partners, as well as state and local school and government officials gathered today for the groundbreaking ceremony for the third building at its Richfield, Ohio corporate campus. The five story, 117,000 square foot, building will serve as the centerpiece on National Interstate’s campus and … Read More
Andesa Services Named Finalist in the 2016 Lehigh Valley Business- "Business of the Year" Awards Program ALLENTOWN, Pa., Nov. 10, 2016 (GLOBE NEWSWIRE) — via PRWEB – The Business of the Year awards program celebrates the region’s most dynamic businesses and business leaders who share a commitment to professional excellence, business growth and the community. “Year in and year out I am reminded that Andesa’s staff is our strongest attribute. Each day I am blessed to … Read More
Andesa Services Named Finalist in the 2016 Lehigh Valley Business- "Business of the Year" Awards Program ALLENTOWN, Pa., Nov. 10, 2016 (GLOBE NEWSWIRE) — via PRWEB – The Business of the Year awards program celebrates the region’s most dynamic businesses and business leaders who share a commitment to professional excellence, business growth and the community. “Year in and year out I am reminded that Andesa’s staff is our strongest attribute. Each day I am blessed to … Read More
Independence Holding Company Announces 2016 Third-Quarter and Nine-Month Results STAMFORD, Conn., Nov. 09, 2016 (GLOBE NEWSWIRE) — Independence Holding Company (NYSE:IHC) today reported 2016 third-quarter and nine-month results. Financial Results Net income attributable to IHC of $4,323,000, or $.25 per share diluted, for the three months ended September 30, 2016 decreased from $14,760,000, or $.85 per share diluted, in the same period of 2015. Income from continuing … Read More
Conifer Holdings Reports 2016 Third Quarter Financial Results BIRMINGHAM, Mich., Nov. 09, 2016 (GLOBE NEWSWIRE) — Conifer Holdings, Inc. (Nasdaq:CNFR) (“Conifer” or the “Company”) today announced results for the third quarter ended September 30, 2016. Third Quarter 2016 Highlights (all comparisons to prior year period) Gross written premiums increased 17.6% to $28.5 million, largely due to continued growth in commercial markets of hospitality, small business, and specialty homeowners … Read More
