An insurance company claims that relying on false financial statements has cost it $5.7 million. Travelers Casualty & Surety Co. of America has filed a federal lawsuit against the CPA, H. Neal Privitt of Little Rock, who provided the financial statements in an attempt to recover the money. Travelers was the surety bonding company for [...]

US-based, Indian-focused IT outsourcing firm iGATE on Wednesday said its net income jumped by 60.67 per cent to US$14.3 million in the quarter ended September 30, 2010. The company, which earns 80 per cent of its revenue from North American markets, had registered a net income of $8.9 million in the third quarter last year. [...]

Total placements of insurance risk transactions based on Perils AG’s industry loss index exceeded $250 million (198 million euros) in the first six months of 2010, the company said. The Zurich-based provider of industrywide European catastrophe insurance data said its latest transaction was related to a private placement between Allianz Risk Transfer and Munich Re, [...]

The AMBG closed Tuesday, July 13, at 789.05 (+1.55%). All 15 A.M. Best stock indexes rose. Leading A.M. Best’s Global Insurance Composite Index (AMBG) were Hallmark financial Services (+9.07%) and Gainsco (+7.91%). Trailing the list of global insurance stocks were BancInsurance Corp. (-14.29%) and National Security Group (-4.91%). The U.S. Insurance Brokers Index led the [...]

Arch Re Facultative announced the opening of its office in Montreal, Quebec. In a release, the Company noted the office will operate as Arch Re Facultative, a division of Arch Insurance, and will be led by Marco Delgado. Delgado will serve as Underwriting Director. The office will be located at 1000 de La Gauchtiere Street, [...]

Reiterating the governments determination to follow and protect the Constitution and law Prime Minister Syed Yusuf Raza on Thursday said if all state institutions work within the ambit of Constitution, it would ensure the development of country and progress and prosperity of masses.We want to follow and protect the Constitution and law. We want that [...]

Planning for a huge retail and industrial center is getting underway in Camarillo. Robert Selleck Corp. has 120 acres under option with 50 acres devoted to a retail center and the balance of the property slated for road extensions and an industrial park. The site fronts the Ventura (101) Freeway between the Las Posas and [...]

By CHRIS COATES Staff Reporter Albert Greene, CEO of Valley Presbyterian Hospital, has a no-nonsense view of avian flu’s impact on the Valley. “Given the fact that California is a major entry point for people from the Pacific Rim and the Far East, which is where most of these outbreaks have taken place, it puts [...]

Voit Out of Warner Center Deal After Dropping Price Real Estate by Shelly Garcia The Voit Cos. has been eliminated from negotiations to acquire a portion of Warner Center Properties. Voit officials said they were forced to lower their bid after learning of additional costs the seller planned to pass along. “We were willing to [...]