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Liberty Mutual Group (“Liberty Mutual”) and Ohio Casualty Corporation (“Ohio Casualty”) (NASD: OCAS) today announced that they have entered into a definitive agreement pursuant to which Liberty Mutual will acquire all outstanding shares of common stock of Ohio Casualty for $44.00 per share in cash. Ohio Casualty Corporation is the holding company of The Ohio… Continue reading Liberty Mutual Group to Acquire Ohio Casualty Corporation

Dear Tri-City Brokerage and BISYS Specialty Programs Clients: We wanted to make sure you are aware of some important news regarding our company. It was publicly announced on May 2, 2007 that our parent company, BISYS Group, has reached an agreement in principle to be acquired by Citi. The commercial insurance services division, which includes… Continue reading BISYS Group, has reached an agreement in principle to be acquired by Citi.

Safeco (NYSE: SAF – News) today announced it has executed a Rule 10b5-1 trading plan to purchase up to $250 million of its outstanding common stock. A Rule 10b5-1 plan allows Safeco to repurchase its shares during periods when the company would normally not be active in the market because of its own internal trading… Continue reading Safeco Announces $250 Million Share Repurchase

A.M. Best Co. has assigned the financial strength rating (FSR) of A- (Excellent) and issuer credit ratings (ICR) of “a-” to the newly formed pool, First Mercury Group (First Mercury) (Chicago, IL) and its members. The group consists of First Mercury Insurance Company (FMIC), which previously had a stand-alone FSR of A- (Excellent) and All… Continue reading A.M. Best Assigns Ratings to First Mercury Group

A.M. Best Co. has affirmed the financial strength rating of B+ (Good) and the issuer credit rating of “bbb-” of Century Insurance Company Limited (CIC) (Northern Mariana Islands). The outlook for both ratings is stable.    ADVERTISEMENT    The ratings reflect CIC’s adequate risk-adjusted capitalization, stable underwriting performance and well-established presence in the marketplace.   … Continue reading A.M. Best Affirms Ratings of Century Insurance Company Limited

Fireman’s Fund Insurance First to Offer ”Change of Heart” Coverage with Wedding and Private Event Insurance    New, Enhanced Policy Protects Couples from “Cold Feet”     Fireman’s Fund Insurance Company has joined forces with insurance agent RV Nuccio & Associates Inc. to offer enhanced insurance policies for weddings and private events to protect the… Continue reading Fireman’s Fund Insurance First to Offer ”Change of Heart” Coverage with Wedding and Private Event Insurance

A.M. Best Co. and Fitch Ratings both announced debt ratings for XL Capital Ltd’s forthcoming $325 million senior unsecured note issuance, due 2027. Best assigned a debt rating of “a-“, while Fitch gave the notes an ‘A’ rating. Both rating agencies also assigned a stable outlook to the notes.    In addition Fitch affirmed the… Continue reading A.M. Best Co. and Fitch Ratings both announced debt ratings for XL Capital Ltd’s forthcoming $325 million senior unsecured note issuance

Alleghany Corp. announced Monday that it reached an agreement to purchase Employers Direct, a Californiaworkers’ compensation carrier that was launched by investors in the bleakest days of the state’s market meltdown.      Employers Direct Chief Executive Officer Jim Little and his fellow investors made a deal to sell the four-year-old company for $195 million. That’s… Continue reading Holding Co. Buys Startup Carrier Employers Direct

The AIG Companies today introduced AIG Passport(SM) for Excess Casualty, a service created for multinational companies to facilitate purchasing locally admitted excess casualty liability insurance to cover their international operations and subsidiaries. AIG Passport for Excess Casualty provides U.S. multinational companies the opportunity to request excess limits atop existing foreign general liability primary policies. AIG… Continue reading AIG Companies(R) Introduce AIG Passport(SM) For Excess Casualty

Hilb Rogal & Hobbs Company (NYSE:HRH – News), the world’s tenth largest insurance and risk management intermediary, announced today that its board of directors declared a quarterly dividend of $0.13 per share, payable on June 29, 2007, to shareholders of record as of June 15, 2007. This represents an increase of 8.3% in the quarterly… Continue reading Hilb Rogal & Hobbs Company Increases Quarterly Dividend