Bankers' Captive Shares Profits
NU Online News Service, Feb. 23, 11:24 a.m. EST?American Bankers Professional and Fidelity Insurance Company a Bermuda-based captive reinsurer said it will share $4 million in profits with member banks.[@@]
Insured banks that are members of the Washington, D.C.-based American Bankers Association are automatically mutual owners of the reinsurer for the banks' primary coverage, which is provided by Progressive Casualty Insurance Company of Mayfield Heights, Ohio.
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