Performance
Left and Right Are Both Wrong About Regulation: Bloomberg View
In 1981, President Ronald Reagan instructed federal agencies that they could issue regulations only after demonstrating that their benefits justified their costs. With modest changes, Reagan's ...
Tower Group Reports $500M Loss for Second-Quarter 2013, Job Cuts
On Friday, Tower announced a second-quarter loss of more than $0.5 billion, with previously disclosed reserve and goodwill charges contributing to the result. The company also said it is cutting ...
Tower Update: We Will Meet Obligations, CEO Says
A day after Tower Group International Ltd. disclosed "substantial doubt about the company's ability to continue as a going concern," a letter from the carrier's CEO reassured business partners that ...
RLI Declares $3.00 Special Dividend and Two-for-One Stock Split
Late Thursday, RLI Corp. announced that its board of directors has declared an extraordinary cash dividend of $3.00 per share of common stock, which is expected to total approximately $65 million, ...
Tower Restating Prior Financials; ‘Going Concern’ Status in Doubt
Tower Group International Ltd. announced Thursday that it is restating previously filed audited annual consolidated financial statements for 2011 and 2012, which are contained in Tower's March 31, ...
Agent Commissions Steady But Rising Ad Costs Lift Expense Ratios: Fitch
Even though revenues have climbed for property/casualty insurers in the recent years, underwriting expense ratios "remain stubbornly high," according to a new report by Fitch Ratings. Fitch's ...
Allianz Raises 2013 Earnings Goal as Quarterly Profit Climbs
Allianz SE, Europe's biggest insurer, increased its target for full-year operating profit after third-quarter earnings rose 6.3 percent, beating analysts' estimates. Net income advanced to 1.45 ...
Swiss Re Net Beats Analyst Forecasts as Non-Life Sales Jump
Swiss Re Ltd., the world's second- biggest reinsurer, reported better than expected third-quarter profit after non-life premiums rose by a fifth. Net income fell 51 percent to $1.07 billion from a ...