A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Barbados-based United Insurance Company Limited, both with stable outlooks. Best said then ratings reflect United’s “favorable capitalization, solid regional market profile …
Warren Buffett’s Berkshire Hathaway Inc. has joined the group bidding for Citigroup Inc.’s consumer lending unit, the Wall Street Journal said Wednesday, citing people familiar with the matter. Berkshire has joined the consortium consisting of private-equity investment firm Centerbridge Capital …
A credit rating downgrade to Portugal [by Moody’s Investors Services] added to fears Europe’s banks face heavy euro zone losses if a private sector plan to help Greece comes unstuck, piling pressure on creditors meeting on Wednesday. The Institute of …
Pirates fired a rocket-propelled grenade (RPG) into a fuel oil tanker near the Yemeni port of Aden on Wednesday morning, but the vessel and its cargo were recovered, the ship manager said. The 26 crew members on board the Brillante …
Marsh has announced the formation of a new “Global Mining Practice,” which it said “harnesses all of its mining expertise, experience, and relationships around the world.” The move comes as “mining organizations pursue growth opportunities outside their home countries.” As …
The National Federation of Independent Business (NFIB) has extended its discounted workers’ compensation coverage benefits to its members in Minn., Ky., S.C., Iowa, Nev., Utah, Idaho and Ore. through EMPLOYERS. EMPLOYERS offers NFIB members discounted workers’ compensation coverage in 19 …
As mining organizations pursue growth opportunities outside their home countries, they are challenged by a number of new and emerging exposures. Marsh has formed a new Global Mining Practice that will combine its global relationships and experience. Andrew Chester, head …
A new study in Swiss Re’s sigma series concluded that the global insurance industry has returned to a pattern of growth. The study – World insurance in 2010 – reveals growth in global premium volume and capital. Premium volume “grew …
Acentria Insurance is expanding its business into southwest Florida by acquiring Florida Homeowners & Commercial Insurance Agency. Terms were not disclosed. The FHC Insurance Agency in Ft. Myers has been providing insurance for 10 years. Destin-based Acentria has eight locations …
New Jersey will be getting almost $50 million in federal funds to help bolster the state’s long-term flood protections. Emergency Management authorities announced Tuesday that the Federal Emergency Management Agency has approved grants to flood-proof properties and minimize the impact …
