Tempest Reinsurance Co. Ltd., subsidiary of ACE Limited, announced the appointment of Wayne A. Daniel to head the London office, which oversees European and Asian operations. He is expected to head the expansion of Tempest’s multiline business in both areas. …
Standard & Poor’s lowered its counterparty credit rating on Frontier Insurance Group Inc. to “BB+” from “BBB.” S&P also lowered its preferred stock rating to “B+” from “BB+.” The ratings were removed from CreditWatch, where they were placed on Nov. …
Countrywide Credit Industries, Inc., a residential finance corporation, announced it has an agreement with National Indemnity Company, an insurance subsidiary of Berkshire Hathaway Inc. The agreement will provide Countrywide’s newly acquired insurance unit, Balboa Life and Casualty, with an extra …
A record number of couples are opting to get married this year. Diamond engagement ring sales are on the rise, and it means increased competition for prime wedding locations. The Independent Insurance Agents of America (IIAA) offered advice to the …
Zurich Re, a subsidiary of the Anglo-Swiss group Zurich Financial Services, has received clearance to offer reinsurance coverage and related services in Puerto Rico. Business in the U.S. Commonwealth will be handled by Zurich Re’s Mexican office.
World Bank Announces “ProVention Consortium”|”|”In the wake of the recent natural disasters in devel
The acquisition of Chicago Motor Club Insurance Co., by the Auto Club Insurance Association, Dearborn, Mich., has no impact on A.M. Best Co.’s ratings of either company. A.M. Best views the Jan. 31 cash transaction favorably for both organizations. Chicago …
The National Highway Traffic Safety Administration (NHTSA) unveiled its first ever consumer brochure to help persons with disabilities in the market for an adapted vehicle to take advantage of new technology to increase their mobility. More than 35,000 copies of …
Citing dramatic changes in the New Jersey auto insurance marketplace due to implementation of auto insurance reform, Allstate New Jersey Insurance Company (ANJ) today announced the appointment of Patricia Egberts, the company’s first new exclusive agent in over 25 years. …
Standard & Poors lowered its long-term rating on Frontier Insurance Co.-supported medium-term note issue to “BBB+” from “A.” The issue’s implied short-term rating was lowered to “A-2” from “A-1” accordingly. In addition, the issue was removed from CreditWatch, where it …
