The accounting investigation swirling around AIG has now spread out across the ocean to reach Bermuda and Germany, as authorities questioned Munich Re about its relations ships with AIG and Island regulatorsd launched itheir own probe into AIG’s activities there. …
A.M. Best Co. announced that it has affirmed the financial strength ratings of “A” (Excellent) and the issuer credit ratings of “a” of the operating companies of Germany’s GE Frankona Group. All the ratings have been removed from under review …
Standard & Poor’s Ratings Services joined A.M. Best in stating that its ratings and outlook on the Lloyd’s Market (“A” / Stable) and The Society of Lloyd’s (also “A” /- Stable) as well as its “BBB+” rating on the subordinated …
The Association of British Insurers (ABI) announced that following discussions with financial authorities, the U.K. Government has decided to drop controversial new clauses from the current Finance Bill. The ABI said it had recently written to “Stephen Timms MP, Financial …
A.M. Best Co. announced that it has downgraded the financial strength rating to “B++” (Very Good) from “A-” (Excellent) and the issuer credit rating to “bbb” from “a-” for the reinsurance subsidiaries of Bermuda-based Inter-Ocean Holdings Limited. Best also downgraded …
Monarch E&S Insurance Services has hired Matt Merkle as assistant vice president and Doris Rojas as an underwriter in its new Simi Valley, California office. Merkle will manage the overall operations of the office and will develop and produce new …
All of the attorneys and staff from the Los Angeles-based law firm Pasich & Kornfeld, LLP will join Dickstein Shapiro Morin & Oshinsky LLP, creating an insurance coverage practice in the country and a West Coast presence for Washington, DC-based …
Following AIG’s announcement that the filing of the 2004 10K will be further delayed, possibly until April 30, 2005, and the disclosure of potential accounting adjustments, A.M. Best commented that the ratings of most of American International Group’s (AIG) wholly-owned …
Florida’s Senate Banking and Insurance Committee has put finishing touches on Senate Bill 1488 that would bring numerous changes to the industry, including, a cap on any rate increase next year by Citizens Property Insurance Corp.; all insurance companies would …
Texas Mutual Insurance Company reported that Eric Scheffey’s Harris County Bone and Joint Clinic Association pleaded guilty recently to fraud-related charges. The insurer said the guilty plea marks the end of a lengthy investigation by the Public Integrity Unit of …
