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Insurance News - Insurance News Headlines | Bizjournals.com
Insurance news

Atlanta firm relocating headquarters to Waukesha
Connecture, an Atlanta-based health care technology company will relocate its corporate headquarters to Wisconsin and will add 100 jobs. The announcement is expected Monday afternoon during a press conference with Gov. Scott Walker at Connecture's Waukesha office. Dan Maynard, company chief executive officer, said Connecture's rapid growth is the reason for the job creation. The state's willingness to provide incentives is the reason for relocation, Maynard said. Connecture is a software developer for health insurers and brokers...
New York sues Bank of America, Wells and Chase
New York Attorney General Eric Schneiderman sued banking?s Big Three ? Bank of America, JPMorgan Chase and Wells Fargo -- on Friday in New York State Supreme Court over their use of an electronic mortgage database that played a key role in financing the nation?s historic housing bubble, the New York Times reports. The lawsuit claims the database, called the Mortgage Electronic Registration System or MERS, resulted in deceptive and illegal practices, including false documents used in foreclosure proceedings...
Chase, Wells Fargo, BofA sued over mortgage databases
New York Attorney General Eric Schneiderman sued banking?s Big Three -- JPMorgan Chase & Co. Inc., Bank of America, Wells Fargo & Co. -- on Friday over their use of an electronic mortgage database that played a key role in financing the nation?s historic housing bubble. Schneiderman, who gained additional clout last month when President Barack Obama named him co-chairman of a new federal mortgage-crisis unit, filed suit against Bank of America, (NYSE: BAC) Wells Fargo (NYSE: WFC) and JPMorgan Chase (NYSE: JPM) in New York State Supreme Court...
Brown & Brown revenue tops $1 billion
Brown & Brown Inc. posted a 1.4 percent jump in net income for 2011, the first year the company topped $1 billion in revenue. The company said net income for the 12 months ended Dec. 31 was $164 million, or $1.13 a share, compared with $161.8 million, or $1.12 a share, for 2010. The $1 billion in revenue for 2011 was 4.2 percent higher than revenue of $973.5 million in 2010, a statement from the company said. Net income for the fourth quarter of 2011 was $36.5 million, or 25 cents a share, compared with $32...
Brown & Brown revenue tops $1 billion
Brown & Brown Inc. posted a 1.4 percent jump in net income for 2011, the first year the company topped $1 billion in revenue. The company said net income for the 12 months ended Dec. 31 was $164 million, or $1.13 a share, compared with $161.8 million, or $1.12 a share, for 2010. The $1 billion in revenue for 2011 was 4.2 percent higher than revenue of $973.5 million in 2010, a statement from the company said. Net income for the fourth quarter of 2011 was $36.5 million, or 25 cents a share, compared with $32...
BB&T to buy insurance brokerage Crump Group for $570M
BB&T Corp. has plans to buy the life insurance and property and casualty insurance divisions of New Jersey-based Crump Group Inc. for $570 million, according to an announcement. BB&T (NYSE: BBT) expects the deal to add $300 million in revenue to its insurance business. The deal is subject to regulatory approval and is expected to close by the end of the first quarter. If approved, it would the top independent wholesale distributor of life insurance in U.S. Wade Reece, chairman and chief executive of BB&T?s insurance business, said the acquisition will give BB&T the opportunity to be a strategic player in the high-growth, high-margin life insurance distribution business...
State health funds to boost Dayton groups
The Ohio Department of Health has awarded two grants worth a combined $65,000 to the Alcohol, Drug Addiction & Mental Health Services Board for Montgomery County. One grant, worth $40,000, will go toward programs for mental health consultation, assessments and treatment of children from birth to 5 years old who are at risk of removal from their custodial home, are victims of abuse or neglect or are entering foster care. Those dollars also can be used to help educate biological and foster parents of children in the welfare system...
Dental Insurance Cos. List No. 1: Delta Dental of Arizona
This week?s edition of the Phoenix Business Journal, due out today, is ranking Arizona?s largest dental insurance companies by number of Arizona enrollees. First on the list is Delta Dental of Arizona with 753,604 enrollees. For a sneak peek at the rest of the top five, click here. The dental insurance companies list, along with the list of Arizona hospices, is available to subscribers. Check out pages 15 and 18 of today?s paper. If you don?t subscribe, click here. For a full year?s worth of Phoenix Business Journal research, check out our 2012 Book of Lists...
Former Johnson County legislator will lead restructured Kansas agency
Kansas Gov. Sam Brownback has appointed former Johnson County legislator Phyllis Gilmore to lead the newly named Department for Children and Families. Brownback announced Gilmore as the department?s secretary on Friday as he unveiled an executive reorganization order that seeks a widespread reshuffling of departments to consolidate much of the financing and oversight of the state?s Medicaid program. Gilmore has spent the past 11 years as executive director of the Kansas Behavioral Sciences Regulatory Board, which licenses most of the state?s mental health workers...
BB&T to acquire insurance brokerage Crump Group for $570M
BB&T Corp. has plans to acquire the life insurance and property and casualty insurance divisions of New Jersey-based Crump Group Inc. for $570 million, according to an announcement. BB&T (NYSE: BBT) expects the deal to add $300 million in revenue to its insurance business. The deal is subject to regulatory approval and is expected to close by the end of the first quarter. If approved, it would the top independent wholesale distributor of life insurance in U.S. Wade Reece, the chairman and CEO of BB&T?s insurance business, said the acquisition will give BB&T the opportunity to be a strategic player in the high-growth, high-margin life insurance distribution business...

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