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Business Insurance - Web News
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Aon quarterly profit rides high on acquisitions
CHICAGO (Reuters)—Aon Corp. reported a market-beating quarterly profit driven by recent acquisitions that offset a drop in commissions.
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House vote seen close on oil spill bill
WASHINGTON, July 30 (Reuters)—A close vote is expected later on Friday when the House of Representatives decides on legislation to reform the oil industry's offshore drilling practices in response to the massive Gulf oil spill.
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Property/casualty insurers withstand tough economy
Although property/casualty insurers suffered sharp declines in net asset values resulting from weak investment conditions and other difficulties in the financial markets, they have been affected to a lesser degree than other sectors, says Standard &...
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9/11 emergency responders bill falls short in House
WASHINGTON—The U.S. House failed to approve legislation that would have reopened a victims compensation fund for emergency responders, cleanup workers and others sickened by materials at the World Trade Center site in New York.
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Founding member of Anderson Kill & Olick dies
NEW YORK—Eugene R. Anderson, a founding member of New York-based insurance recovery firm Anderson Kill & Olick P.C., died Friday morning after a long illness.
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Jardine Lloyd Thompson profits up, says pricing still weak
LONDON (Reuters)—Insurance broker Jardine Lloyd Thompson Group P.L.C. on Friday reported a 14% rise in its half-year profit thanks to acquisitions and efficiency gains last year and warned of a continued dip in insurance prices.
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Accounting body proposes common rule for insurers
LONDON (Bloomberg)—The international body that sets accounting rules used in more than 110 countries including Britain, Japan and Germany said insurance companies should standardize bookkeeping to give investors better data.
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N.Y. insurer probe widens to include Genworth, Unum
ALBANY, N.Y. (Bloomberg)—New York Attorney General Andrew Cuomo subpoenaed Genworth Financial Inc., Unum Group and an insurer acquired by France's AXA S.A. as the state widens a life- insurance fraud probe, said a person briefed on the demands.
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