Southfield, Mich.-based Meadowbrook Insurance Group Inc. announced that Stephen A. Belden has joined the company as chief actuary. Belden has nearly 20 years of actuarial experience in the insurance industry, according to a statement released by Meadowbrook. Most recently, he …
A.M. Best Co. has affirmed the financial strength rating of “A” (Excellent) of the St. Paul Cos. Inc.’s property/casualty subsidiaries. Concurrently, A.M. Best has downgraded its senior debt rating to “bbb+” from “a-“, subordinated debt to “bbb” from “bbb+”, preferred …
Beleaguered Kemper Insurance Cos. is putting up for rent two of the four buildings on its Long Grove, Ill., corporate campus, according to Crain’s Chicago Business. The two buildings’ space adds up to more than 520,000 square feet, a little …
Mayfield Village, Ohio-based vehicle insurer Progressive Corp. reported that for May 2003, the company produced a GAAP combined ratio of 88.3. Net premiums written increased 29 percent to $910.9 million for the month, compared to $706.0 million last year. Net …
Chicago-based Acordia Inc. has announced three new hires in its Minnesota office. John Dwyer has joined Acordia’s Minnesota office as a commercial lines sales representative, Jeff Bowers is the new vice president of marketing, and Jim Turner is the new …
A spokeswoman for indicted Chicago insurance broker Michael Segal told Insurance Journal he is likely to hold a news conference to defend himself and his company, Near North Insurance Brokerage Inc., against federal charges of insurance and mail fraud. Insurance …
The property/casualty industry voiced its “strongest objections” to any decision by the National Association of Insurance Commissioners (NAIC) to extend the annual statement data collection parameters of their market conduct pilot project beyond the agreed upon time frame. The Alliance …
International Marine Insurance Services (IMIS) and Markel American Insurance Company have partnered to establish The JacklineSM Insurance Program for world cruisers. Much like the safety gear after which it is named, this insurance program is designed with the intent of …
Based on his “no new taxes” platform, New Hampshire Governor Craig Benson has vetoed a bill that would have reportedly raised premium taxes for surplus lines insurers. “This bill would have been a disservice to surplus lines insurers and the …
A.M. Best Co. has placed the financial strength rating of A- (Excellent) of National Service Contract Insurance Company RRG (NSC) (Hawaii) under review with negative implications. The status will remain pending the results of an independent actuarial analysis of the …
