Workers who return to work after a lost-time injury are more than twice as likely to file another workers’ compensation claim for a subsequent injury than other workers at the same company, according to a study by the Workers’ Compensation …
Troubled British Mutual Insurer Equitable Life announced that it has sold its Permanent Insurance Unit to another U.K. mutual Liverpool Victoria for £150 million ($222 million). The move comes as pressure rises on Equitable to continue to assure its financial …
The Hartford has completed the previously announced sale of its Dutch subsidiary Zwolsche Algemeene to AGF, the French arm of Germany’s Allianz, for €599 million ($551 million). Zwolsche wrote €383 million ($352 million )in gross premiums in 1999, and will …
Everest Reinsurance (Bermuda) Ltd., a subsidiary of the Everest Re Group announced that it has “acquired AFC Re Ltd., a Bermuda based annuity/life reinsurer, from AFC Holdings Ltd. for approximately $17 million in a cash transaction.” AFC Re has around …
The year 2000 was an interesting year. And if we mix our own lives in with the news events of this past year, it started and ended with a bang. Think about it, we were huddled in our shelters waiting …
The “BBBpi” FSR on American Safety Casualty Insurance Co. was affirmed by S&P. The company’s extremely strong capitalization and five-year average return on revenue were cited as key factors in the rating. Those factors were offset by limited operating scope …
The FSR of Markel International was lowered from “A” to “A-” by A.M. Best. At the same time, senior debt ratings for Markel International and Markel Corp. were lowered from “bbb+” to “bbb” while the preferred stock rating of Markel …
The “BBBpi” FSR on Allstate Floridian Insurance Co. was affirmed by S&P, which cited the company’s extremely strong capitalization, offset by marginal and volatile operating performance and high geographic and product line concentrations as key rating factors. Although Allstate Floridian …
XL Financial Assurance (XLFA) and XL Capital Assurance Inc. (XLCA), respectively the financial guarantee reinsurance and financial guarantee subsidiaries of XL Capital Ltd., received “AAA” ratings from both S&P and Fitch. Based in Bermuda, XLFA will offer “AAA” reinsurance capacity …
