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Catastrophes caused significant 2011 first-half underwriting losses for U.S. property-and-casualty insurers, driving the industrys net income for that time period to $6.9 billiondown 67 percent relative to the year before, according to an A.M. Best special report.
State Farm will be raising rates by a statewide average of 5 percent in Alabama, but rates in the states two coastal counties will remain flat for the most part.
State Farm will be raising rates by a statewide average of 5 percent in Alabama, but rates in the states two coastal counties will remain flat for the most part.
HSBC Holdings has approached the top three property-and-casualty insurers in Japan about the sale of its non-life insurance business, which could fetch more than $1 billion, sources close to the matter said on Thursday.
HSBC Holdings has approached the top three property-and-casualty insurers in Japan about the sale of its non-life insurance business, which could fetch more than $1 billion, sources close to the matter said on Thursday.
Ireland's High Court approved on Thursday the takeover of Quinn Insurance by a joint venture of U.S. insurer Liberty Mutual and state-run Anglo Irish Bank.
Ireland's High Court approved on Thursday the takeover of Quinn Insurance by a joint venture of U.S. insurer Liberty Mutual and state-run Anglo Irish Bank.
European insurers are financially robust and unlikely to require injections of fresh capital, barring an Italian sovereign default or break-up of the single currency area, analysts said.
European insurers are financially robust and unlikely to require injections of fresh capital, barring an Italian sovereign default or break-up of the single currency area, analysts said.
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