Last Spring, CNA announced commercial real estate and property owners as a part of its targeted Middle Market focus class initiative. Today, the global insurer reinforces commercial real estate as a core industry appetite with the announcement of new coverage and service enhancements, further positioning CNA as a premier carrier for these businesses. “We’ve seen strong new business growth with this business since we launched it earlier this...
The PMI Group, Inc. announced today that it will host an Investor Conference on Thursday, December 4, 2008 from 9:00 a.m. to 12:00 p.m. EST at the Hilton New York in New York City. The purpose of the Investor Conference is for PMI executives to communicate the Company’s strategy and operational highlights to its shareholders. If you are unable to attend the conference, a live webcast of PMI’s presentation will be available at its website...
LandAmerica Financial Group, Inc. announces that the merger agreement previously executed on November 7, 2008 with Fidelity National Financial, Inc. (“Fidelity”) has been terminated. Under the agreement, Fidelity had sole discretion to terminate on or before November 21, 2008. LandAmerica Chairman and Chief Executive Officer Theodore L. Chandler, Jr. said, “We are disappointed with Fidelity’s decision; however, our attention...
Property insurance information provider MSB and contents valuation provider Enservio deliver good news to the property insurance industry. Today the companies announce an alliance for delivering contents valuations for property claims through electronic integration between MSB’s IntegriClaim® property claim estimating solution and Enservio’s contents claims management process. Property insurers leveraging IntegriClaim’s Administrator...
Regions Financial Corporation (NYSE:RF) announced that it has reached out to over 103,000 residential first mortgage and home equity customers in the first year of its program to help customers avoid hardship. As a result, Regions has taken steps including renegotiating the terms of mortgages, keeping families in their homes and allowing the company to maintain a foreclosure rate of less than one percent for residential first mortgages. “We have...
The Equality Act of 2007 sought to end discrimination against gays applying for insurance in Britain. When insuring couples, companies are required to evaluate gay marriages (officially known as “civil partnerships”) in exactly the same way as they would heterosexual ones. The Association of British Insurers (ABI) confirmed their adherence to this in July. http://www.noclaimsdiscount.co.uk [NoClaimsDiscount.co.uk] has found that in practice,...
Fitch Ratings has affirmed National City Bank’s (NCB, formerly National City Mortgage Co., NCM) U.S. residential servicer ratings as follows: These rating actions reflect NCB’s experienced management team, comprehensive controls, and proficient loan administration practices. The ratings also reflect its financial strength (rated ‘A-/F2′, Rating Watch Positive, by Fitch). The servicer ratings were formerly assigned to NCM, which...
Deep Down, Inc. announced unaudited results for the three months and nine months ended September 30, 2008, on Form 10-Q filed with the U.S. Securities and Exchange Commission. Revenue for the three months ended September 30, 2008 increased $6.8 million to $11.7 million, a 140% increase over the same three-month period in 2007. The increase in revenue included $8.5 million from the acquisitions of Mako and Flotation, while our historical service lines...
No matter what the circumstances, from job loss or illness to changing market conditions, there’s a lot of stress a homeowner goes through in a foreclosure or a short sale of their home. As the Government takes action to stabilize the housing market, homeowners must understand the potential tax implications and new rules regarding these often once in a lifetime transactions. “It’s hard to believe, but prior to December of 2007, if...
Brandywine Realty Trust a real estate investment trust focused on the ownership, management and development of Class A, suburban and urban office properties in the mid-Atlantic region and other selected markets throughout the United States, announced today that it has closed a transaction with US Bancorp related to the historic rehabilitation of the 30th Street Post Office in Philadelphia, Pennsylvania, an 862,692 square foot office building which...