Standard & Poor’s Ratings Services announced that it has revised its outlook on Sweden’s long-term savings provider Skandia Insurance Co. Ltd. (Skandia) to negative from stable. S&P also affirmed ithe company’s ‘A’ long-term counterparty credit and ‘A-‘ long-term senior unsecured …
Montpelier Re Holdings Ltd., the Bermuda-based reinsurer founded by White Mountains, announced that its Board of Directors has initiated a policy of quarterly cash dividends to shareholders. The first quarterly dividend of $0.34 per common share will be payable on …
A.M. Best Co. announced that it has downgraded the financial strength ratings to ‘A-‘ (Excellent) from ‘A’ (Excellent) of Bermuda-based Centre Solutions (Bermuda) Limited and its operating subsidiaries, units of the Zurich Financial Services Group. It also said that the …
Standard & Poor’s Ratings Services has issued a comment on the Japanese P/C sector, indicating that “a recovery in bottom-line profits recorded by all 10 major Japanese non-life insurers for the first half of fiscal 2003 (ended Sept.30, 2003), was …
Nevada Insurance Commissioner Alice A. Molasky-Arman ordered TRG Marketing, L.L.C., TRG Administration L.L.C., (TRG) and its principals, William Paul Crouse and Carmello Zanfei, to pay administrative fines of $180,000, collectively, for reported violations of unfair trades practices by acting as …
David Alfred Tetley, 50, a former insurance agent, was sentenced to six years in state prison and ordered to pay restitution to victims after pleading guilty to six felony counts of Financial Elder Abuse and Grand Theft. The sentencing in …
The Washington Office of the Insurance Commissioner will hold a hearing Dec. 3, 2003, to consider the proposed merger of Eagle Pacific Insurance Company, a domestic Washington insurer, and American Protection Insurance Company, an Illinois insurer. The hearing will be …
Sierra Health Services Inc. announced that it has reached a definitive agreement to sell its workers’ compensation subsidiary, California Indemnity Insurance Co. Inc. (CIIC) to Folksamerica Holdings Co. Inc. Folksamerica is a subsidiary of White Mountains Insurance Group, Ltd., a …
The Professional Liability Underwriting Society (PLUS) recently honored Joseph Monteleone of The Hartford Financial Services Group with its 2003 PLUS1 Award at the organization’s 16th Annual International Conference. The PLUS1 Award is presented to a person whose efforts have contributed …
Standard & Poor’s has affirmed its ‘BBBpi’ counterparty credit and financial strength ratings on Maine Employers Mutual Insurance Co. The ratings reflect its extremely strong capitalization, strong operating performance, and sound reinsurance program offset by high geographic and product line …
