Carrollton, Texas-based Insurance Technologies Corporation, a provider of new business rating products for personal lines agencies and insurance companies, announced the addition of an undisclosed driver database to its comparative auto rating system for Texas. The source of this information …
A.M. Best Co. announced that it has placed the ‘A’ (Excellent) financial strength ratings of Worldwide Direct Auto Insurance Company and Worldwide Insurance Company of Cincinnati, OH, under review with negative implications, following the announcement that Connecticut’s Response Insurance Group …
Virginia’s State Corporation Commission (SCC) announced that it has been appointed as receiver by the Circuit Court of the City of Richmond for Reciprocal of America (ROA) and the company’s attorney-in-fact, The Reciprocal Group (TRG). The decision follows an examination …
More than 200 members of the Independent Insurance Agents Association of New York are set to meet with the state’s legislators in Albany at the Empire State Plaza next Monday, February 4, to seek solutions to “some of the state’s …
A.M. Best announced that it has affirmed the financial strength rating of ‘A-‘ (Excellent) of Gulf Insurance Limited, which operates from Port of Spain, Trinidad, and has assigned the ratings a stable outlook. “The rating of Gulf reflects its consistent …
California-based Risk Management Solutions, Inc., one of the world’s leading providers of products and services for catastrophe risk management, announced that it has released an in-depth study, “revealing the costs to the U.K. insurance industry if an event were to …
Bermuda-based AXIS Capital Holdings Limited and the Kemper Insurance Group announced that AXIS’ U.S. subsidiary has agreed to acquire the renewal rights to the D&O and related product lines written by Kemper’s Financial Insurance Solutions (FIS) Group. Under the agreement …
Bermuda-based Endurance Specialty Holdings Ltd. announced that its net income for 2002 was $102 million, with gross premiums written and acquired of $799 million and net premiums written and acquired of $765 million. “Endurance had a combined ratio of 86.2% …
Bermuda’s Trenwick Group Ltd. announced that it will increase its reserves for losses in the fourth quarter of 2002 by $107 million, or $2.90 per share. The company indicated that the decision “follows a previously announced study of the reserving …
Moody’s Investors Service announced that it has changed its outlook to negative from stable on the A1 senior debt and A2 subordinated and junior subordinated debt ratings of France’s AXA group. Moody’s said the outlook change “reflected the group’s diminished …
