New York Insurance Superintendent Eric Dinallo signed a cooperation agreement earlier this week with his counterpart in Macau, a move signaling the increasingly international approach to regulation for the country’s highest profile state commissioner. The agreement, signed Monday by António …
A.M. Best Co. has removed from under review with developing implications and upgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “a” from “a-” of North Dakota-based Aspen Specialty Insurance Company …
Standard & Poor’s Ratings has lowered its counterparty credit and financial strength ratings on Bermuda-based R.V.I. Guaranty Co. Ltd. and its U.S.-based subsidiaries–R.V.I. America Insurance Co. and R.V.I. National Insurance Co.–to ‘BBB’ from ‘A-‘. S&P has also removed the ratings …
Commercial insurance follows a boom-and-bust pricing cycle that generally thought to be largely uncorrelated with broader economic cycles. But according to a new report released by Advisen Ltd., the current recession is different. The severity of the economic crisis will …
Northumberland, Pennsylvania-based Keystone Insurers Group has hired five new executives and restructured its top management team in a move aimed at boosting growth and enhancing services, the company said. Ralph Sitterson, previously vice president of claims at Berkley-Mid Atlantic Group, …
Standard & Poor’s Ratings Services announced that its ratings on U.K.-based Aspen Insurance U.K. Ltd. (A/Stable/–), Bermuda-based Aspen Insurance Ltd. (A/Stable/–), and Aspen Insurance Holdings Ltd. (Aspen; BBB+/Stable/–) are unaffected by today’s announcement that Aspen intends to sell about 1.22 …
“I meant what I said, and said what I meant…” Although that quote was written in 1954 by Dr. Seuss in his book “Horton Hears a Who,” it is a powerful reminder today to act with character and integrity. “Horton …
Massachusetts Attorney General Martha Coakley and a North Carolina insurance company have reached a settlement barring the company from using what Coakley described as unfair ratings practices. Occidental Fire and Casualty Insurance Co. has filed a rating plan to begin …
The Main Street America Group has named Jeff Price as assistant secretary, director, claims field. Price is based out of the property/casualty insurance carrier’s Richmond, Va., regional office and manages six Main Street America casualty units that are located in …
The Bermuda-based Max Capital Group acknowledged that it has received a copy of Validus Holdings, Ltd.’s unsolicited, stock-for-stock, proposal for IPC Holdings, Ltd. The offer somewhat complicates the planned amalgamation of Max and IPC. Standard & Poor’s Ratings Services issued …
