A.M. Best Co. affirmed the financial strength rating of “A” (Excellent) of the St. Paul Cos. Inc.’s property/casualty subsidiaries. The outlook is stable. The ratings reflect St. Paul’s strong capitalization, favorable and strengthening operating performance in its continuing lines of …
A.M. Best Co. downgraded the financial strength ratings to “D” (Poor) from “C++” (Marginal) of the participants in the Kemper Insurance Cos.’ intercompany pool, eight reinsured affiliates and one domestic affiliate. The downgrading of the Kemper Insurance Cos.’ rating follows …
A.M. Best Co. downgraded the financial strength rating to “A” (Excellent) from “A+” (Superior) of GMAC Insurance Group. The rating outlook is stable. The rating reflects the diminished financial strength of the ultimate parent company, General Motors Corp., which is …
A.M. Best Co. placed the financial strength rating of “A-“(Excellent) of the Atlantic Mutual Cos. under review with negative implications. Concurrently, the “bbb” debt rating of Atlantic Mutual Insurance Co.’s existing $100 million 8.15 percent surplus notes, due February 2028 …
When Governor James E. McGreevey signed The New Jersey Automobile Insurance Competition and Choice Act (S-63/A-2625), he launched another effort aimed at solving the state’s automobile insurance crisis. This time, however, unlike past efforts at “reform,” it may actually begin …
The property/casualty insurance industry reported a statutory rate of return of 8.8 percent in the first quarter of 2003, up from a disappointing one percent in 2002 and the worst-ever negative 2.4 percent recorded in 2001. The results were released …
The U.S. property/casualty industry’s net income after taxes rose 20.6 percent to $6.4 billion in first-quarter 2003 from $5.3 billion in first-quarter 2002, driven by improved underwriting results and an increase in net investment gains, according to Insurance Services Office …
It is nearly impossible to deny the impact the burgeoning Hispanic population has and will have on American culture and its markets. The marketplace for insurance is no exception. Hispanics are now the country’s largest minority group, having officially overtaken …
The Independent Insurance Agents of Texas 106th annual convention, held recently in San Antonio, was a huge success, with record attendance and lots of networking and educational opportunities for attendees. The event was made even more festive with the presentation …
In a hard market, like the one we’re experiencing lately, many of the positive effects of the increased revenue can also carry some consequences that can negatively affect your agency down the road. A hard market is a sellers market …
