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CRM , After Buying Majestic, Doubles Net Income

03/09/2007
CRM Holdings on Thursday reported 4.2 million in net income in the fourth quarter of 2006 a 110 increase over the 2 million earned in the fourth quarter of 2005. Those earnings equaled 26 cents per diluted share compared with 18 cents per diluted share in the fourth quarter of 2005

Category: News

CRM Fined by N.Y. Insurance Department for Unlicensed Adjusting

05/20/2008
California-based Majestic Insurance Co. and Bermuda reinsurer Twin Bridges. Hickey did not return a telephone call Monday. CRM Holdings has repeatedly declined to discuss the actions by New York regulators. It denied allegations of mismanagement in the statement to shareholders and the U.S. Securities and

Category: News

CRM Announces Record Second Quarter

08/08/2006
CRM Holdings a provider of fee-based management and other services for workers' compensation self-insured groups in New York and California announced Monday the second quarter and six months results ending June 30. Net income for the second quarter was 3.7 million or 0.23 per diluted

Category: News

Audit: CRM Underestimated Trust Deficit More than 15-Fold

07/13/2009
droves. She said many of them secured traditional workers' compensation coverage through California-based Majestic Insurance a sister company to CRM. Both entities are owned by Bermuda-based CRM Holdings which also owns reinsurer Twin Bridges. CRM spokesman Andrew Brazier issued a brief statement

Category: News

N.Y. Closes Group Trust Run by CRM Holdings

07/03/2007
closures this year Woods said "We do take that into consideration." She said no other closings were imminent. CRM a publicly-traded company administers seven other workers' compensation self-insurance trusts in New York as well as trusts in California. Of those seven the Transportation

Category: News

SWCB Reaching Settlement with CRM Parent

11/04/2010
By Michael Whiteley Eastern Bureau Chief The New York State Workers' Compensation Board SWCB said Wednesday it has reached a tentative settlement with the parent company of Compensation Risk Managers CRM to resolve a pending 450 million lawsuit and a parallel investigation by New York

Category: News

A.M. Best Upgrades, Assigns Ratings to Majestic

11/17/2006
ratings of "a-" to Twin Bridges of Hamilton Bermuda. A.M. Best also assigned an issuers credit rating of "bbb-" to CRM Holdings Bermuda and its downstream holding company CRM USA Holdings of Delaware. The announcement came two days after CRM Holdings confirmed it had completed the purchase of

Category: News

DIR Approves $6.17 Billion to Cover Self-Insured Deposits

07/03/2012
that the groups in California are not mature enough for an accurate financial rating which is the basis of determining eligibility. We would need a course of action to get that rating Burgess said. Something could be set up in the long term. When Compensation Risk Managers CRM had to close

Category: News

Group Trusts May Rebound Despite Dismal Report

08/27/2007
. Administrators such as CRM Holdings Ltd. are counting on that help. CRM which is publicly traded and operates primarily in New York and California administers seven trusts in New York six of which were recently listed as underfunded. Three of them were added to the underfunded list since June. In

Category: News

N.Y. Regulators Shutting Down Five More CRM Trusts

04/02/2008
York State Cemeteries Trust on March 31 and the Wholesale & Retail Workers' Compensation Trust of New York on April 29. All five are managed by CRM based in Poughkeepsie N.Y. with additional operations in California. CRM is part of Bermuda-based CRM Holdings a publicly traded workers' compensation

Category: News

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