A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating of ‘B++’ (Good) and issuer credit rating of “bbb+” of Illinois-based American Freedom Insurance Company. Best said the “ratings reflect American Freedom’s solid …
A Massey Energy subsidiary was fined $2.5 million fine this week after a federal judge accepted the company’s guilty plea to 10 criminal charges for a fire that killed two West Virginia coal miners. U.S. District Judge John Copenhaver approved …
Standard & Poor’s Ratings Services has affirmed its ‘BBB+’ global scale long-term counterparty credit and financial strength ratings on AXA Seguros S.A. de C.V. (AXA Seguros; formerly known as Seguros ING S.A. de C.V.). S&P also affirmed its ‘mxAAA’ national …
A U.S. congressman Thursday expressed concern about a stake in Goldman Sachs Group Inc. held by Edward Liddy, CEO of bailed-out insurer American International Group Inc., and urged him to quit. Liddy owns shares and restricted stock units in Goldman …
American International Group, Inc. (AIG) announced that it has completed the sale of AIG Private Bank Ltd., a wholly owned subsidiary of AIG, to a subsidiary of Aabar Investments PJSC , a global investment company based in Abu Dhabi. “Under …
Growth in the emerging global Islamic insurance industry, or takaful, is waning slightly due to the economic slowdown, but remains strong as more people switch from conventional insurance. The global market is seen growing as much as 30 to 40 …
Would you drive any differently if you knew there was a teenager behind the wheel of the car in front of you? You might find out soon. A first-in-the-nation law in New Jersey will require new drivers ages 21 and …
A year-long investigation by the Maryland Insurance Administration has found that 67 of the state’s 119 car insurers underpaid claims, Commissioner Ralph S. Tyler said State regulators have fined the companies a collective $235,000 and ordered an additional $442,590 in …
Delaware House lawmakers have approved a bill that aims to help job seekers by classifying driving offenses as violations, not misdemeanors. Rep. John Mitchell says he sponsored the bill because he thinks applicants shouldn’t be denied jobs for failing to …
A report from FINEX Global, Willis’ London-based Financial, Executive Risk and Professional Liability business, has found that financial institutions (FI) face “an average premium hike of 15 percent in early 2009, as insurance rates reflect a significant rise in claims …
