Ex-Vesta unit sues ITAC over CIO embezzlement Sep 5, 2008
This lawsuit completely misrepresents the services we offered to Vesta Insurance Group nearly five years ago, said Pitts in a written statement. ITAC has successfully placed thousands of individuals throughout our company s history and has never had a complaint such as this brought against us. (Birmingham Business Journal, AL)
Affirmative Insurance Holdings Announces Fourth Quarter and Full Year Results for 2006 Mar 19, 2007
In early November 2005, the board of directors of Affirmative was reconstituted to reflect the majority ownership position of New Affirmative LLC. This ownership position included the shares formerly owned by Vesta Insurance Group, Inc. that were acquired by New Affirmative during the summer of 2005. Shortly thereafter, Affirmative entered into separation agreements with the company's former CEO and CFO in connection with their resignations. (Primezone Releases)
Family struggles long after fire Dec 23, 2006
This past summer, her insurance company, Vesta Insurance Corp. of Texas, was taken over by state regulators and her policy was cancelled. Vesta is part of a property insurance conglomerate that Texas regulators said was operating with unacceptable levels of financial risk brought on by losses incurred from Hurricane Katrina, and other storms. (Cape Cod Times, MA)
Business briefs: Horizon Lines cuts fuel surcharge Sep 27, 2006
The rating is higher than the "C," or marginal, rating Hawaiian Insurance had when it was owned by Alabama-based Vesta Insurance Group. Great Northwest bought the policies, name, and other assets for Hawaiian Insurance on Sept. 20. (Honolulu Advertiser)
Texas Select customers should find new insurer Aug 16, 2006
Texas Select Lloyds' parent company is Vesta Insurance Group, Inc., based out of Birmingham, Ala. "Vesta ran into some trouble in the last year or so when it had some exposure to Hurricane Katrina in Alabama," TDI spokes-man Jerry Hagins said. (Sealy News, TX)
Hallmark Announces Election of CEO Aug 9, 2006
Mr. Schwarz is also a director of Nashua Corporation, a manufacturer of specialty papers, labels and printing supplies; SL Industries, Inc., a developer of power systems used in a variety of aerospace, computer, datacom, industrial, medical, telecom, transportation and utility equipment applications; Vesta Insurance Group, Inc., a property/casualty insurance holding company unrelated to Hallmark; and WebFinancial Corporation, a banking and specialty finance company. Mr. Morrison, age 46, became... (PR Newswire)
Action means homeowners lose insurance Jul 25, 2006
Texas Select Lloyds' parent company, Vesta Fire, entered into legal rehabilitation in early July after Vesta Insurance Group was no longer able to complete its capital-raising initiatives, according to the Texas Department of Insurance ... "My primary goal in this action," said Mike Geeslin, Texas insurance commissioner, "is to ensure policyholders have insurance that is able to pay their claims should a loss occur." Vesta Insurance Group took a large financial hit with hurricanes Katrina and... (Pasadena Citizen, TX)
Local Texas Select customers affected by company liquidation Jul 22, 2006
Vesta Insurance of Birmingham, Ala. experienced problems including a series of losses from hurricanes that drove a long-term need for additional capital. (Boerne Star, TX)
Vesta files involuntary Chapter 7 bankruptcy; liquidation now likely Jul 22, 2006
Earlier this month, Vesta Insurance Group announced that its largest subsidiary, Vesta Fire Insurance Corp., along with Vesta Insurance Corp., Shelby Insurance Co., Shelby Casualty Insurance Corp., Texas Select Lloyds Insurance Co. and Select Insurance Services Inc., had been placed into court-ordered rehabilitation in Texas. In addition, the Florida Department of Insurance placed Vesta's Sarasota subsidiary, Florida Select Insurance Co., into rehabilitation under that state's Department of... (Birmingham Business Journal, AL)
TEXAS POLICYHOLDERS TO LOSE COVERAGE Jul 20, 2006
Large losses from hurricanes Katrina and Rita put Texas Select's parent company, Vesta Insurance Group of Birmingham, Ala. in financial trouble. (Tyler Morning Telegraph, TX)
Insurance For 154,000 Policyholders To Be Canceled Jul 20, 2006
Texas Select's parent company, Vesta Insurance Group of Birmingham, Ala. has been mired in financial trouble, especially after huge losses from hurricanes Katrina and Rita. (Click2Houston, TX)
Regulators take over property insurer Jul 2, 2006
HIG has suffered from a rash of customer defections following financial troubles suffered by its Alabama-based parent company, Vesta Insurance Group, which was beset by hurricane-related losses in the Gulf South. In March, rating agencies downgraded Vesta's bond rating to C+, a rating for extremely risky bonds that is considered too low to meet some mortgage lending requirements. (Honolulu Star-Bulletin)
Vesta Announces A.M. Best Rating Change Mar 9, 2006
March 8 /PRNewswire-FirstCall/ -- Vesta Insurance Group, Inc. (Pink Sheets: VTAI.PK) announced today that A.M. Best has downgraded the company's property casualty subsidiaries' ratings to C++ (Marginal) from B (Fair) ... About Vesta Insurance Group, Inc. Vesta, headquartered in Birmingham, Ala ... SOURCE Vesta Insurance Group, Inc. Web Site. (PR Newswire)
