11/2 Yahoo! Finance: Property & Casualty Insurance Industry News

Yahoo! Finance: Property & Casualty Insurance Industry News         Kingsway and Jjr Announce Funding of Atlas Going Public Transaction November 2, 2010 at 3:09 AM   [PR Newswire] - Kingsway Financial Services Inc. and         AIG tots up $37bn from Alico sale and AIA float November 2, 2010 at 1:09 AM   [at Financial Times] - AIG, the insurance group bailed out by the US government in 2008, has raised almost $37bn by selling its Alico ALCO life insurance subsidiary and floating its AIA unit in Asia.         American Financial posts higher profit in 3Q November 2, 2010 at 12:12 AM   [AP] - Property and casualty insurer American Financial Group Inc. said Monday its profit increased 3.9 percent in the third quarter on higher realized gains.         The Law Office of Abe Shainberg Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of First Mercury Financial Corporation in Connection with the Sale of the Company to Fairfax Financial Holdings – FMR November 2, 2010 at 12:11 AM   [Business Wire] - The Law Office of Abe Shainberg is investigating the Board of Directors of First Mercury Financial Corporation for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Fairfax Financial Holdings Limited .         Insurer Unitrin's 3rd-qtr net income falls November 1, 2010 at 11:53 PM   [AP] - Insurance company Unitrin Inc.'s third-quarter net income fell as its revenue dipped. The company said Monday that it earned $35.7 million, or 58 cents per share, for the quarter. That's down from $62.1 million, or $1 per share, in the same quarter last year.         Berkshire's BNSF Names Ice as Operating Chief of BNSF Railway November 1, 2010 at 11:04 PM         Fairholme's Berkowitz boosts AIG stake again November 1, 2010 at 10:52 PM         Unitrin, Inc. Reports Third Quarter 2010 Net Income of $35.7 million November 1, 2010 at 10:34 PM   [Business Wire] - Unitrin, Inc. reported today net income of $35.7 million for the three months ended September 30, 2010, compared to $62.1 million for the same period in 2009. Net income was $121.7 million for the nine months ended September 30, 2010, compared to $98.4 million for the same period in 2009.         American Physicians Service Group, Inc. Announces Mailing of Definitive Proxy Materials for November 29, 2010 Special Meeting November 1, 2010 at 10:23 PM         MetLife CFO: Alico Set for Overseas Growth November 1, 2010 at 10:08 PM         American Financial Group, Inc. Announces Third Quarter and Nine Month Results November 1, 2010 at 10:01 PM   [Business Wire] - American Financial Group, Inc. today reported net earnings attributable to shareholders of $132 million for the 2010 third quarter, compared to $127 million reported for the 2009 third quarter.         Flagstone Re Reports Diluted Book Value Per Share of $15.10 for End of Third Quarter 2010 November 1, 2010 at 10:00 PM   [Business Wire] - Flagstone Reinsurance Holdings, S.A. today announced third quarter 2010 basic book value per share of $15.93 and diluted book value per share of $15.10, up 4.3% and 4.4%, respectively, for the quarter .         National Interstate Corporation Announces New Director November 1, 2010 at 9:35 PM   [GlobeNewswire] - RICHFIELD, Ohio -- National Interstate Corporation announced today that effective October 29, 2010, in connection with his retirement from American Financial Group, Inc., Mr. James C.         Homeowners Choice Receives Florida Regulatory Authorization to Assume up to 10,000 Citizens Policies in December November 1, 2010 at 9:17 PM   [GlobeNewswire] - CLEARWATER, Fla. -- Homeowners Choice, Inc. , a Florida-based insurance holding company, today announced that its wholly owned insurance subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., has been authorized by the Florida Office of Insurance Regulation to assume 10,000 homeowners' policies from Citizens Property Insurance Corporation, Florida's state-run insurance company.         ACE Names Russell Bundschuh President of International Life Insurance Business November 1, 2010 at 9:05 PM   [Business Wire] - ACE Limited announced today that it has appointed Russell Bundschuh President of its international life insurance business. In this role, Mr. Bundschuh will have executive responsibility for ACE's global life insurance and life reinsurance operations.         Meadowbrook Insurance Group, Inc. Reports Third Quarter 2010 Results November 1, 2010 at 9:03 PM   [PR Newswire] - -         Harleysville Group Inc. Reports Third Quarter 2010 Results November 1, 2010 at 9:02 PM   [Business Wire] - Harleysville Group Inc. today reported diluted operating income of $0.76 per share for the third quarter of 2010, compared to $0.83 per share in the third quarter of 2009. Catastrophe losses incurred during the third quarter of 2010 reduced operating income by $0.09 per share after taxes, compared to catastrophe losses of $0.02 per share in the third quarter of 2009.         Harleysville Group Inc. Declares Special $1.44 Per Share Dividend, in Addition to 98th Consecutive Regular Quarterly Dividend November 1, 2010 at 9:01 PM   [Business Wire] - The Board of Directors of Harleysville Group Inc. has declared a special cash dividend of $1.44 per share, as well as its regular quarterly cash dividend of $0.36 per share. Both dividends will be payable November 30, 2010, to shareholders of record on November 15, 2010.         Markel Announces Conference Call Date and Time November 1, 2010 at 9:00 PM   [PR Newswire] - Markel Corporation announced today it will hold a conference call on Monday, November 8, 2010 beginning at 10:30 am to discuss quarterly results and business developments.           AXIS Capital Reports Third Quarter Operating Income of $164 Million November 1, 2010 at 9:00 PM   [Business Wire] - AXIS Capital Holdings Limited today reported net income available to common shareholders for the third quarter of 2010 of $239 million, or $1.78 per diluted common share, compared with a net loss of $96 million, or $0.70 per diluted common share, for the third quarter of 2009.         AIG raises $37bn to repay bail-out funds November 1, 2010 at 8:29 PM   [at Financial Times] - AIG, the insurance group bailed out by the US government in 2008, has raised almost $37bn by selling its Alico ALCO life insurance subsidiary and floating its AIA unit in Asia.         U.S. government expects profit on AIG bailout November 1, 2010 at 7:49 PM   [at MarketWatch] - If insurer's restructuring stays on course, taxpayers will get back their bailout money and much more.         Loews Way Ahead of Estimate November 1, 2010 at 7:45 PM         AIG: Treasury's white-knuckle ride November 1, 2010 at 7:37 PM   [at Fortune] - Does it make anyone else nervous that the government keeps promising the AIG roller coaster won't jump the tracks? Treasury reiterated Monday that it expects to make money on its least popular bailout, if it's possible to pick one: the September 2008 rescue of AIG and the 274 subsequent restructurings of that arrangement.         CNA Financial Announces Earnings, Bids For CNA Surety November 1, 2010 at 7:10 PM         CNA Financial posts 3Q loss on liabilities deal November 1, 2010 at 6:26 PM   [AP] - Commercial insurer CNA Financial Corp. said Monday that it posted a net loss for the third quarter, reversing from a profit a year ago, mostly due to a loss on a transfer of asbestos and pollution risks.         U.S. government expects a profit on AIG bailout November 1, 2010 at 6:25 PM         [$$] A Survey of Insurance Stocks November 1, 2010 at 6:19 PM         [video] CNA Financial Suggest Acquisition of CNA Surety November 1, 2010 at 6:10 PM         Asset Sales Raise $37 Billion For AIG's Bailout Payback November 1, 2010 at 6:00 PM         [video] Key players of the financial crisis November 1, 2010 at 5:47 PM   [at Fortune] - Bethany Mclean and Joe Nocera, co-authors of ?All the Devils are Here? preview their new book.         [video] AIG to Repay Government $37 Billion November 1, 2010 at 5:40 PM         Treasury Says AIG Stake Worth About $69.5 Billion on Oct. 29 November 1, 2010 at 5:01 PM         A.M. Best Affirms Ratings of Employers Holdings Inc. and Its Subsidiaries November 1, 2010 at 4:48 PM   [Business Wire] - A.M. Best Co. has affirmed the financial strength rating of A- and issuer credit ratings of "a-" of Employers Insurance Group and its four property/casualty pooling members, Employers Insurance Company of Nevada, Employers Compensation Insurance Company , Employers Preferred Insurance Company and Employers Assurance Company .         Mercury General 3Q earnings slip, lifts dividend November 1, 2010 at 3:43 PM   [AP] - Mercury General Corp.'s net income fell 39 percent in the third quarter as the auto and homeowners' insurance provider collected lower premiums and spent more on claims.         Buyout of First Mercury Financial Investigated for Shareholders by Goldfarb Branham LLP November 1, 2010 at 2:58 PM   [Business Wire] - Goldfarb Branham LLP is investigating whether the Board of Directors of First Mercury Financial Corporation breached fiduciary duties to shareholders because of their attempt to sell the First Mercury to Fairfax Financial Holdings Limited.         AIG raises enough to pay off NY Fed credit line November 1, 2010 at 2:51 PM   [Reuters] - Bailed-out insurer AIG raised $27.71 billion cash in 10 days with the initial public offering of its Asian life business AIA and the sale of its global life unit Alico, enough to repay a credit facility from the Federal Reserve Bank of New York.         Swaps Pioneer Jasper Leaves Primus as Firm Unwinds Credit Default Business November 1, 2010 at 2:30 PM         CNA Surety Receives Proposal for CNA to Acquire Public Minority Stake November 1, 2010 at 2:29 PM   [PR Newswire] - CNA Surety Corporation announced today that it has received a proposal from CNA Financial Corporation to acquire all of the outstanding shares of common stock of CNA Surety that are not currently owned by subsidiaries of CNA for $22.00 per share in cash.         AIG raises $16.2 bln in Alico sale November 1, 2010 at 2:19 PM   [at MarketWatch] - Insurance giant AIG has more funds to repay taxpayers after its aises $16.2 billion from sale of Alico business to MetLife.         AIG to Pay Back $37B in Bailout Cash November 1, 2010 at 2:14 PM         Loews reports steep 3Q profit drop on charge November 1, 2010 at 2:06 PM   [AP] - Loews Corp., the conglomerate run by the Tisch family, reported a steep decline Monday in its third-quarter profit, citing a hefty tax charge and the moratorium on drilling in the Gulf of Mexico.         Albert Benchimol to Join AXIS Capital as Chief Financial Officer November 1, 2010 at 1:55 PM   [Business Wire] - AXIS Capital Holdings Limited today announced that Albert Benchimol will join the Company as Chief Financial Officer on January 17, 2011. Mr. Benchimol will also join the Company's Executive Committee and report directly to John Charman, Chief Executive Officer and President of AXIS Capital.         Mercury General Corporation Announces Third Quarter Results and Increases Quarterly Dividend November 1, 2010 at 1:30 PM   [PR Newswire] - Mercury General Corporation reported today for the third quarter of 2010:         The Progressive Corporation Announces Investor Relations Conference Call November 1, 2010 at 1:19 PM   [Business Wire] - As previously announced, The Progressive Corporation will host a one-hour conference call on Tuesday, November 9, 2010, beginning at 9:00 a.m. eastern time. On November 8, 2010, Progressive expects to file its Quarterly Report on Form 10-Q with the Securities and Exchange Commission and post its Shareholders' Report, including the Letter to Shareholders from Glenn Renwick, President and CEO, to its Web site at www.progressive.com/annualreport.         Better Drivers Pay Less for Car Insurance with One-of-a-Kind Program from Progressive November 1, 2010 at 1:00 PM   [Business Wire] - Business travelers who park their cars at the airport several days a week. Families with an extra car they only drive occasionally. Drivers who avoid slamming on the brakes. They're all less likely to be in an accident and can save money on their car insurance with a new program from Progressive.         MetLife's Henrikson Delivers on Buyout Vow After Thiam Falters November 1, 2010 at 12:59 PM         AIG raises nearly $37 billion to pay back government November 1, 2010 at 12:57 PM   [at CNNMoney.com] - Insurer gets funds from sale of ALICO unit and initial offering of AIA unit         Mercury General Corporation to Report Third Quarter Results on November 1, 2010 November 1, 2010 at 12:45 PM   [PR Newswire] - Mercury General Corporation announces the following Webcast:             This email was sent to bruno.jovanov.insurance@blogger.com. Delivered by Feed My Inbox 230 Franklin Road Suite 814 Franklin, TN 37064 Account Login Unsubscribe Here