Kansas Insurance

It was a bad weather year, and we’ll probably for them to pay the State Insurance Top official said Monday.

Since October Wichita, the region has a high tide, two smaller, a large tornado and a little tornado. Many Kansas Sunday was damaging hail of blows. And insurance companies have been officially trying to keep the claims.

Although businesses expect, and for some catastrophic losses, 3 Tornado May alone, resulting in an estimate of ~ $ 140 million to 146 million in damage, is “big enough”, said Commissioner of Insurance Kansas Kathleen Sebelius.

“I think the loss of this magnitude, it is likely that some impact on the future (insurance) prices,” she says.

Companies have to justify any increases, showing the Commissioner Office for the loss of specific data, she said. But it is also a risk rate in undercharging.

George K. Baum & Co., the last of Kansas City’s old-time, in possession local investment firms, it is out of the reserve retail brokerage business focus on their large and profitable operations communal Bond and other companies .

Baum & Co. Thursday that his broker jobs would be in other brokerage firms and clients ask for them. While waiting for customers a complete service and access to their accounts.

The decision marks the end of an era. Kansas City’s brokerage circles are counted once in family businesses, the tree, HO Peet, BC Christopher and Stern Bros.

Richard Stern, whose father and uncle founded the company in 1917, a Kansas City was not only the loss of their local warehouses.

Brooke Corp., the nation as the largest distributor of 22 to the owner of the house, car and other insurance products, is a mere business in the heart, founder and president Robert Orr. “We’re country boys business,” said Orr. Do not be fooled, however. Brooke’s ambitious business plan revolves around the link cost-effective handling of the small town Main Street Business-owners of large capital markets on Wall Street. Its rapid growth, to 900 agencies with a purchase of more than 60 last week, a few kugelsicherer, including how it deals with franchising, providing loans and advice Orr, said the work of the company in order.

Regarding criticism, including some former agents of Brooke, then yes, it comes with the territory, he said. “Finally, we are at issue in the two most businesses in America - and the franchise insurance,” said Orr. Of course, Brooke quickly organized since 1986 in Phillipsburg, Kan., mistreated for a small town in Kansas banks and insurance companies also sell competitive services for their customers. But the market was limited in 1996 and Brooke, the next step - the creation of an arm ready to finance the sale of Brooke franchise Agency emerging entrepreneurs. The agencies that sell policies from a variety of brands, names of the insurer, Safeco, Progressive and passengers.

To support the growth of its networks and services, Brooke nine years ago, joined the headquarters in Overland Park Since the IPO, the company has purchased or put into place a series of brokerage, advice and underwriting.

CHICAGO - Fitch Ratings today announced its updates Quantitative Insurer Financial Strength (Q-IFS) 555 ratings for USA claims of insurance companies. Meanwhile, Fitch has the new Q-IFS-80 Ratings on the USA insurers.

Of the 555 updated ratings, there are 69 upgrades, 25 demotions and 381 claims. Fitch notes that the number of updates on Down degree reflects improvements in credit basis, with those companies evaluated during fiscal 2006.

Including 555-Q-IFS Ratings, Fitch currently maintains coverage of 958 U.S. property / Accident Insurance companies that share about 74% of total industry net premiums.

In addition, Fitch 23 revocation of the existing Q-IFS ratings, as these damage-insurance companies Fitch no longer meet the criteria entitled to a Q-IFS-Rating.

Q-IFS-Ratings are solely on a statistical model using the last five years, the financial information law. The model that “the logic of notation” that mirror many aspects of the quantitative analysis, which is used, assign ratings traditional IFS. In case of simultaneous recognition of borders within the strict framework of using a quantitative approach credit rating, Fitch is of the opinion that the notation IFS make adequate representation of the company stand-alone financial strength and costs of exploitation.

Kansas City is still “an important hub” of activity of the Exploitation of reinsurance is acquired by Swiss Re, switchboard Chief Executive of Zurich, Switzerland giant said Monday.

Jacques Aigrain, currently Deputy Chief Executive Officer of Swiss Re said it expected reinsurance GE Insurance Solutions, a sharp decline in employment in the short term, but a net increase in the long term.

“Given that the company develops, the fact that our business and our core competencies is to concentrate mean that we offer growth over time for this key Hub.

First American Capital Corporation, a regional life insurance company founded and funded by Kansans in 1996, today announced its new president and CEO, Vincent L. Rocereto, is moving quickly to develop a range of profitable products to build shareholder value.

“First American has a professional experience for the insurance company around this year, after two consecutive years of losses under the leadership of our former part-time president Michael N. Fink and president of Rickie D. Meyer,” Harland said E. Priddle, director of a founding member, was chairman of the board in November 2002.

“We are very happy, Vince Rocereto an insurance executive with over 30 years experience, ok, all of the company in March 2003 as President and Chief Executive Officer,” said Priddle. Rocereto as previously as Chairman and Chief Executive Officer of American Home Life Insurance Company, a company $ 1 billion of insurance in force, which is based in Topeka, Kansas, where he began his career as an adviser.

“Vince Rocereto made good progress in the work of our team of professionals to develop a portfolio of insurance products that meet the needs of today.

First American Capital Corporation are revealed today the Kansas Office of the Commissioner of Insurance has chosen white proxies gathered by a group of dissident shareholders financed by citizens, Inc. (NYSE: CIA) from Austin, Texas, USA does can not be used to select nominees for dissidents of the First American Capital’s Board of Directors.

Today, writing the Kansas Insurance Department said:

“Regarding the vote on proxies collected by or on behalf of Riley, Oliver and Citizens, Inc. Commissioner, it appears that the use of these proxies is a violation of the Kansas holding companies insurance law. Objects their use in a certain way.

First American Capital Corporation are revealed today the Kansas Office of the Commissioner of Insurance has chosen white proxies gathered by a group of dissident shareholders financed by citizens, Inc. (NYSE: CIA) from Austin, Texas, USA does can not be used to select nominees for dissidents of the First American Capital’s Board of Directors.

Today, writing the Kansas Insurance Department said:

“Regarding the vote on proxies collected by or on behalf of Riley, Oliver and Citizens, Inc. Commissioner, it appears that the use of these proxies is a violation of the Kansas holding companies insurance law. Objects their use in a certain way.

Kansas City-based media / professional liability insurance, the nation’s largest media Underwriter responsibility, it is acquired by a giant insurance Axis Capital of Bermuda for a price unknown.

Media / Pro, as it is well known, is currently in possession of Aon Underwriting Managers of Chicago, which bought the company 27 years in the year 1992. The sale to Axis It is expected that in the second quarter.

Axis, commercial property damage and accident insurance and reinsurance, has annual revenues of over $ 3 billion and a market value of over $ 5

FBL Financial Group, Inc. (NYSE: FFG) and Kansas Farm Bureau Services, Inc. today announced they have signed a definitive agreement on the FBL Financial Group acquired the assets and liabilities of the Kansas Farm Bureau Life Insurance Company, for the issuance of securities worth $ 88 million. In a transaction separate and independent action FBL Financial Group, Inc. has announced a $ 53 million share buyback and $ 22 million bids for a total of 3750000 its class-A shares at a price sets $ 20 per share, totalling $ 75 million euros.

“The acquisition of Kansas Farm Bureau Life is our most important achievement since its entry on the stock exchange in 1996 and is consistent with our three pillars of the strategy for growth, consolidations and alliances with other Farm Bureau affiliated companies’ insurance, “said Bill Oddy, Chief Executive Officer of FBL Financial Group. “Kansas Farm Bureau Life is a great company and a great form for us. Kansas Farm Bureau Life has a strong market position and rank No. 1 for the entire insurance industry and life annuity market share in the state of Kansas. We both serve a marketplace of Farm Bureau members, and they were a variable Alliance partner since 1995.

Michael desert, Chief Executive Officer of Kansas Farm Services Bureau said: “We are delighted that part of the FBL Financial Group. We know and worked with FBL for a long period and we know that many similarities