Commercial Record E-News


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Darwin Professional Underwriters Acquired By Bermuda Co.
Monday, June 30, 2008 (212 reads)

Farmington specialty insurance group Darwin Professional Underwriters has been acquired by Bermuda-based Allied World Assurance Company Holdings, which has an office in Boston, in a deal expected to nearly double Allied's U.S. presence, the companies said.

Phoenix Cos. To Spin Off Asset Management Subsidiary
Monday, June 30, 2008 (140 reads)

The Phoenix Cos. of Hartford has filed a registration statement with the SEC indicating its intent to spin off Phoenix Investment Partners, its asset management subsidiary, to Phoenix stockholders.

South Norwalk Money Manager Will Relocate To Stamford
Monday, June 30, 2008 (132 reads)

Investment management firm Drum Capital Management plans to relocate from South Norwalk to 13,000 square feet in downtown Stamford in September.

First Fairfield Co. Green Building Open For Business
Monday, June 30, 2008 (146 reads)

The first green building in Fairfield County has been opened by Davis Marcus Partners in Wilton.

DiNicola Joins Simsbury Bank & Trust
Monday, June 30, 2008 (317 reads)

Robin DiNicola has joined Simsbury Bank & Trust's senior officer team as assistant vice president and senior market manager for the Albany Turnpike market.

Webster Layoffs Prompt Executive Promotions
Friday, June 27, 2008 (711 reads)

On the heels of an anouncement the company would be cutting as many as 240 jobs, Waterbury-based Webster Financial, parent company of Webster Bank, has announced "expanded roles" for four corporate executives.

AIG To Absorb Up To $5 Billion In Securities Losses
Friday, June 27, 2008 (153 reads)

AIG, which has significant operations in Connecticut and is the world's largest insurer, is poised to absorb up to $5 billion in losses for a dozen insurance units, according to a Bloomberg News report.

Fairfield Co. Brokers $3.47M In Sales In Norwalk, Bridgeport
Friday, June 27, 2008 (184 reads)

A 60,000-square-foot industrial building in Bridgeport sold for $1.825 million and a 10,000-square-foot building in Norwalk sold for $1.65 million are among a host of recent deals brokered by Fairfield-based commercial brokerage Angel Commercial.

Personal Income, Expenditures Up In May
Friday, June 27, 2008 (132 reads)

Personal income rose more than $225 billion in May, which led to a personal expenditure increase of $77 billion in May over April, as the effects of the federal Economic Stimulus Act began to be felt, according to a new report from the Bureau of Economic Analysis.

Failing Mailings: Catalog Costs Way Up
Friday, June 27, 2008 (158 reads)

A weak economy, poor retail performance and slumping print advertising revenue, combined with sharp cost increases for paper, postage, energy and transport, are eating into budgets for catalogs and direct mailing companies, according to a new study by Massachusetts paper-industry analyst RISI.