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- Arch names chairman, CEO
HAMILTON, Bermuda-Arch Capital Group Ltd. promoted Mark Lyons to chairman and chief executive officer of Arch Insurance Group Thursday. via Business Insurance
- Buffett's Berkshire Increases Investments in Kraft, Wells Fargo, WellPoint
Billionaire Warren Buffett 's Berkshire Hathaway Inc. took advantage of falling share prices in the first quarter to boost stakes in Kraft Foods Inc. via Bloomberg
- MBIA: Loss rate below Moody's assumption
MBIA Inc.'s portfolio is experiencing a lower rate of losses than is assumed by ratings agency Moody's Investors Service, the bond insurer said Wednesday. via New York Business.com
- RBS auction off Buffett's menu
US BILLIONAIRE Warren Buffett's Berkshire Hathaway investment vehicle is understood to have pulled out of the bidding in Royal Bank of Scotland's multi-billion-pound auction of its UK insurance business. via Scotsman.com
- State Lifts Ban On Allstate Selling New Policies
"We're looking forward to having a continuous dialogue with the (state Office of Insurance Regulation) and other leaders about solutions to the property insurance market." Allstate Corp.'s insurance companies can resume selling new car insurance and other policies in Florida, the state's insurance regulator said Friday. Insurance Commissioner Kevin McCarty lifted the suspension because he said Allstate has turned over documents that regulators demanded along with an affidavit that everything being sought was included. The state had said since January that the company hadn't sufficiently complied with subpoenas seeking information about how Allstate sets homeowners insurance rates. McCarty moved then to suspend the company, but it appealed. Read more
- Presented By: IBM Unveils Insurance Operations of the Future Powered by SOA
IBM Unveils Insurance Operations of the Future Powered by SOA ARMONK, NY--(Marketwire - May 13, 2008) - IBM (NYSE: IBM) today announced two new advances in the insurance industry -- a solution for improving operational efficiency and a framework for process acceleration -- that are designed to help insurance providers lower costs and increase customer satisfaction by handling core functions, such as claims and policy processing, more efficiently. Once implemented insurance companies will be able to automate Read more
- Judge rejects request to throw out convictions of former Gen Re, AIG insurance executives
A federal judge has rejected requests to overturn the convictions of five former insurance company executives in a scheme to manipulate the financial statements of the world's largest insurance company. via PR-inside.com
- Berkshire holds no Ameriprise shares: SEC filing
Berkshire Hathaway Inc , billionaire Warren Buffett's investment company, no longer held any Ameriprise Financial Inc stock as of March 31, according to a U.S. regulatory filing on Thursday. via MSN Money
- National, Nevada groups continue to challenge UnitedHealth-Sierra Health deal
A union, national, state and local medical groups, a local government official and a U.S. House panel have filed documents in Washington, D.C., in efforts to block the biggest health care deal in Nevada ... via KTVN Reno
- Sun Life sees boost from China and India offsetting headwinds in North America
"Our earnings in the first quarter of 2008 were affected by the current environment, including broad economic uncertainty and an overall credit crunch" Sun Life Financial Inc. is well positioned to grow in China and India, offsetting economic headwinds in North America that dragged down its latest financial results, chief executive Donald Stewart said ... via CBC News
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