A.M. Best Co. has placed the financial strength ratings of member companies of American International Group, Inc. under review with negative implications following their announcement that the chairman and CEO, Maurice Greenberg, will retire as CEO, although he remains non-executive …
Standard & Poor’s Ratings Services announced that it has assigned its “AA-” financial strength rating to Partner Re Ireland Insurance Co. (PRII), a newly formed subsidiary of Bermuda-based PartnerRe Ltd. (PRE). The rating agency also affirmed its “A” counterparty credit …
Following the publication of Munich Re’s 2004 results (see previous article), A.M. Best Co. issued a comment that its ratings on the group are unaffected following the announcement. Best noted that they were “in line with the revised earnings forecast …
Germany’s Munich Re Group celebrated its 125th anniversary year in style, recovering from a 434 million euro ($578 million) loss in 2003 to post 2004 net profits of 1.833 billion euros ($2.44 billion) despite a series of weather related catastrophes …
A new Plantation, Fla. office has been opened by ELIOS, a San Ramon, Calif. provider of paperless solutions technology for property and casualty insurance companies. Mario Garcia, ELIOS’ director of information technology, is managing the office, with support services provided …
The American Insurance Association (AIA) expressed hope that a Capitol Hill hearing Tuesday focused on U.S. port security will provide federal policymakers with insights about the urgent need to extend the nation’s federal terrorism insurance backstop. The House Subcommittee on …
The ISU Group and Rob MacKethan have announced the creation of Agency Advisors, a consultancy providing merger & acquisition services, business appraisals and perpetuation planning advice to independent insurance agents. Agency Advisors is providing services to owners of independent agencies …
Despite the apparent support of Georgia House leaders, the Republican-controlled House failed late March 11 to pass House Bill 683 and send it to the Senate. Friday was the 30th day of the legislative session and the deadline for lawmakers …
A statehouse rally on March 15 in Tallahassee, Fla. demonstrated the coordinated effort to end lawsuit abuse in Florida during the 2005 legislative session, according to the Property Casualty Insurers Association of America. To show his support, Gov. Jeb Bush …
Thomas Comer, president and CEO of Swett & Crawford, announced to employees at the end of the business day on March 14 that he will be leaving the company, according to unidentified sources. The reason for Comer’s departure is unknown …
