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Travelers announced on Wednesday its pledge to reduce total U.S. greenhouse gas emissions by seven percent from 2006 to 2011. The initiative is a result of the company’s participation in Climate Leaders, the U.S. Environmental Protection Agency’s (EPA) industry-government partnership that works with companies to develop comprehensive climate change strategies.    “By setting a long-term… Continue reading Travelers Announces Pledge to Help Reduce U.S. Greenhouse Emissions

Thomas E. Riley, Regional President of Brown & Brown, Inc., and Daniel J. Dalton and Jack W. Lynn, principals in the Dalton Insurance Agency, LLC, of Glassboro, New Jersey, today announced the asset acquisition of Dalton Insurance Agency, LLC by a subsidiary of Brown & Brown, Inc. Dalton Insurance Agency, with annualized revenues of approximately… Continue reading Brown & Brown Announces Asset Acquisition of Dalton Insurance

A plan to include a temporarty freeze on introductory mortgage-interest rates that would otherwise jump higher in the next few years in order to help struggling homeowners avoid losing their properties will be announced by President Bush today. The plan seeks to address the rising tide of foreclosures by making it easier for lenders to… Continue reading Bush to Announce Temporary Housing Mortgage Rate Freeze

HKMB International Insurance Brokers (HKMB) and Hub International Limited announced today that they have entered into a definitive agreement pursuant to which HKMB will join with HUB International. HKMB will become a new regional platform (hub) and carry on business as HKMB Hub International from its existing offices in Toronto, Ontario. HKMB’s existing ownership group… Continue reading HKMB and Hub International to Join Forces

Zurich, one of the world’s largest property-casualty insurance companies, today announced that its Domestic Energy Casualty business unit has increased its presence on the West Coast and also is looking to write more business on the East Coast and in the Midwest, with a goal of building its book of business in all these regions.… Continue reading Zurich Looking to Increase Domestic Energy Business

Berkshire Hathaway Chairman Warren Buffett will likely testify in a federal trial against five former insurance executives accused of devising a fraudulent finite reinsurance transaction between American International Group Inc. and General Reinsurance Corp.    The billionaire investor, the third-richest man in the world, is on the government’s newly disclosed witness list, along with former… Continue reading Buffett Could Testify Against Former Executives at Finite Re Trial

Federal Reserve officials next week are likely to deliver their third “insurance” interest-rate cut this year. But how big a cut and what to say in the accompanying statement are likely again to be difficult decisions, as they were on Oct. 31 when the Fed cut its short-term interest-rate target to 4.5% and issued a… Continue reading Expectations on Fed Rate Cut Vary

Chief Executive Officer Martin Sullivan of American International Group Inc. (AIG), the world’s largest insurance carrier, referred to company investments tied to the U.S. housing market as “manageable.” Consequently, shares of the company shares rose as much as 6.7 percent, the most in three years. Mr. Sullivan made the comments in a presentation for investors… Continue reading AIG Says Investments Tied to Housing Manageable

Aon-COFCO, China’s preeminent joint-venture and risk consulting company, today announced that it ranked number one in the international brokers league, and ranked third overall in the region, according to a recently published report by the China Insurance Regulatory Commission (CIRC).    Citing China’s extremely rapid growth in domestic consumer demand and inward investment, YC Wei,… Continue reading AON Largest International Brokerage Firm in China

Fitch Ratings stated on Monday that the 20 largest U.S. property and casualty insurers had about $44 billion of subprime mortgage exposure as of June 2007, but the amount made up only 3 percent of their total investments. “The U.S. property and casualty insurance industry’s risk from subprime mortgage exposures is minimal based on Fitch’s… Continue reading Fitch Says Top US P/C Insurers’ Exposure to Subprime Minimal