A.M. Best Co. has affirmed the financial strength rating (FSR) of “A” (Excellent) and the issuer credit ratings (ICR) of “a” for the reinsurance subsidiaries of Bermuda-based IPC Holdings Ltd.- IPCRe Limited and Dublin-based IPCRe Europe Limited. Best also affirmed …
Fitch Ratings has upgraded its issuer default rating (IDR) on Arch Capital Group, Ltd. to “A-” from “BBB+” and its rating on Arch’s $300 million of senior unsecured notes due 2034 to “BBB+” from “BBB”. Fitch also upgraded its ratings …
Guy Carpenter & Co., the global risk and reinsurance specialist of the Marsh & McLennan Companies announced that its Instrat(R) unit has published “Typhoon Saomai: Impact and Historical Comparison.” The bulletin notes that “in addition to providing an overview of …
Insurance Australia Group Limited (IAG) announced plans to acquire the U.K.-based Equity Insurance Group, one of the country’s larger motor (auto) underwriters and brokers for £570 million (A$1.397 billion – US$ 1.12 billion). The deal would significantly expand IAG’s UK …
Expected health insurance premium increases of between 8 and 13 percent in Massachusetts are being driven more than ever by the costs of expensive specialty drugs, according to officials from some of the state’s major health insurers. “Virtually every health …
(Clearwater, FL and Richmond, VA) …Robert M. Bryant, President, and Martin H. Kanipe, Executive Vice President of Atlantic Specialty Lines of Florida, Inc. (ASL – FL) and Paula Ross, Executive Vice President, Gary Markel Surplus Lines Brokerage, Inc. (GMSL), today …
American International Group, Inc. and C.V. Starr & Co., Inc. announced that they have settled certain disputes between them, including disputes relating to the termination of the managing general agency relationships between their respective subsidiaries and the use of the …
Home insurers in Connecticut may no longer require permanently installed storm shutters as a condition for writing or renewing policies but must offer consumer choices of loss mitigation controls and deductibles, according to a report on coastal insurance issued by …
Physicians Insurance A Mutual Co., based in Seattle, has announced that John Hastie has been named vice president of marketing and sales. Hastie will relocate from Florida, where he was vice president – chief marketing officer at Global Insurance Management …
The California Office of Administrative Law (OAL) has decided to accept a petition filed by Insurance Brokers and Agents of the West (IBA West) requesting review of the former Insurance Commissioner John Garmendi’s attempt to designate a recent settlement as …
