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CRM Posts $6.2 Million Loss Amid Continuing Troubles in New York

03/05/2009
CRM Holdings the Bermuda-based parent of Majestic Insurance Co. and Compensation Risk Managers CRM of California posted 6.2 million in fourth-quarter losses Wednesday and acknowledged the Bermuda-based company is still absorbing the impact of last year's fight with New York regulators. The

Category: News

Calif. Expansion Boosts CRM Revenues

03/28/2006
CRM Holdings Ltd. a management and service provider for workers' compensation self-insured groups in New York and California announced record revenues for the fourth quarter and 2005. CRM an acronym for Compensation Risk Managers LLC attributed the revenue growth to expansion in the

Category: News

CRM Reports Net Income Growth for Fourth Quarter, Full Year

03/06/2008
to our customers in California while right-sizing our fee-based operations as we reduce our exposure to the New York self-insured market and to maintain the diversified offering which we believe the market will demand over the long term." Source CRM Holdings

Category: News

CRM Net Income Jumps 71.7% Despite New York Troubles

05/13/2008
number of New York self-insured groups managed by the company lower insurance rates in California and reduced commissions on excess insurance policies placed with Majestic" the company said in a statement. CRM Holdings Chief Executive Officer Daniel J. Hickey Jr. blamed CRM's problems with the trusts

Category: News

CRM Announces Losses and Layoffs Tied to N.Y. Trust Market Exit

11/06/2008
conference call Wednesday with investors that CRM also shuttered a medical-review business it operated in connection with the trusts of another subsidiary Eimar LLC. CRM continues to manage five self-insured groups in California which is also the home state for workers' compensation insurer Majestic. Twin

Category: News

CRM Net Income Drops in 2Q, Despite Growth of Majestic Premiums

08/07/2008
earnings. CRM said that revenues from fee-based management services dropped to 3.1 million in the second quarter compared to 8.1 million in the prior-year quarter as it exited the New York self-insured group trust business. The company also reported lower insurance rates in California and reduced

Category: News

Majestic Files for Bankruptcy Protection

05/04/2011
The Bermuda-based parent of workers' compensation carrier Majestic Insurance Co. and group self-insurance administrators Compensation Risk Managers CRM and Compensation Risk Managers of California filed for bankruptcy protection in the Southern District of New York Friday. Majestic Capital

Category: News

Hickey Resigns as CRM Holdings Chairman/CEO

03/16/2009
talented insurance professionals. We wish him and his family the best." CRM on March 5 reported a 6-million loss in 2008. Its subsidiary California-based Majestic Insurance lost 7 million in the fourth quarter of the year due to higher-than-expected losses after entering the workers' compensation

Category: News

CRM Settles Group Trust Lawsuit

04/10/2006
CRM Holdings Ltd. a Bermuda-based manager of workers' compensation self-insurance trusts in New York and California announced this week that three legal actions brought by a group of members and former members of a CRM trust have been settled for an undisclosed sum. The suits were filed by

Category: News

CRM Announces Further Layoffs in U.S. Downsizing

03/30/2010
that the layoffs constitute 15 of its consolidated workforce and will primarily affect its office in Poughkeepsie N.Y. CRM Holdings notified the affected workers last Thursday. They will leave their jobs this Friday. The company which owns Majestic Insurance Co. in California and the reinsurer Twin

Category: News

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