3 Minutes Auto Insurance Quotes

SAN JUAN, Puerto Rico, July 9 /PRNewswire-FirstCall/ -- First BanCorp (the "Corporation") today announced its results for the 2006 fiscal year and the filing of its Annual Report on Form 10-K with the Securities and Exchange Commission ("SEC") for the year ended December 31, 2006.

For the year ended December 31, 2006, First BanCorp reported net income of $84.6 million, or $0.54 per common share (basic) and $0.53 per common share (diluted). Net income in 2005 was $114.6 million, or $0.92 per common share (basic) and $0.90 per common share (diluted). Results for 2006 included one- time expenses of $20.6 million in legal, accounting and consulting fees related to the Audit Committee's internal review and related legal and regulatory issues and a $68 million non-cash net loss resulting from the valuation of derivatives.

Delos Group Receives AM Best Ratings

NEW YORK--Delos Insurance Company, a leader in program business, today announced that A.M. Best Company, the credit rating organization, has assigned a financial strength rating (FSR) of A- (Excellent, a financial size category (FSC) of 5678) and issuer credit ratings (ICR) of "a-" to Lightyear Delos Group and its members. The group consists of Delos Insurance Company (Delos), which previously had a stand-alone FSR of A- (Excellent), and its new, wholly-owned excess and surplus lines subsidiary, Naxos Insurance Company.

In a press release announcing its ratings, A.M. Best said, "The ratings reflect the group's strong risk-adjusted capital position and the targeted earnings and capital accumulation projections set forth by management. In addition, the ratings recognize the successful track record of the group's executive team in managing profitable insurance company operations." A.M.

AAA Auto turns the page from its controversial past to a new ...

Still dogged by past negative media coverage and numerous accusations of allegedly dubious practices, used-car dealership AAA Auto is shedding its bad image and changing strategy by aiming to become a publicly listed company.

��������������������T��he largest Czech used-car dealership chain has started focusing on selling more expensive cars to avoid prob-lems related to customers� complaints about cheap trade-in cars that damaged the firm�s reputation in the past, said Anthony Denny, founder and chairman of the board of directors of AAA Auto. Extensive negative media coverage of AAA Auto practices in 2002�when some clients filed criminal complaints about the company that were investigated by police but were postponed�made the firm change its strategy and hire an internation-al breakdown insurance firm to prevent such situations in the future, Denny said.

Bonus-malus system to be enforced on January 1, 2008

The bonus-malus system for the auto liability policies (RCA), which takes into account all the car accidents involving the holder of a policy, will be introduced on January 1st, 2008, in addition to amicable settlements, say representatives of the Insurance Supervision Commission (CSA).

"We have a proposal to modify the insurance law, which will be enacted by an ordinance of the Government. We are currently deciding in cooperation with insurance companies on the terms of the amicable settlement form," stated Angela Toncescu, CSA chairperson.

An amicable settlement does not involve the police in the case of minor car accidents, with both of the insured parties reporting the accidents directly to their insurance companies. .