The Main Street America Group, based in Florida, has completed the process of bringing Minnesota-domiciled insurance carrier, Austin Mutual Insurance Co., into the group as an affiliate. The transaction has been approved by the State of Minnesota Insurance Commissioner’s Office …
Timing rather than a trend seems to be the key as to why Oklahoma has broken the state record for tornadoes in the month of April the past two years, according to weather officials. In April 2011, there were 50 …
A.M. Best Europe – Rating Services Limited has assigned a financial strength rating of ‘B++’ (Good) and issuer credit rating of “bbb” to Pakistan’s Jubilee General Insurance Company Limited, both with stable outlooks. The ratings reflect Jubilee’s “strong risk-adjusted capitalization, …
Farm Bureau Insurance said it is dropping about 3,000 South Carolina home insurance customers after paying out millions in storm-related claims last year. The Post and Courier of Charleston reported that property owners in 17 coastal and Pee Dee counties …
The new president of the state-backed Citizens Property Insurance Corp. meets with the insurer’s governing board for the first time, looking for consensus on finalizing the insurer’s rate request for next year. Citizens’ governing board holds a rate workshop Monday …
U.S. Gulf Coast states have a higher stake in the amount of money the U.S. government can wring out of BP Plc for the 2010 Deepwater Horizon oil spill due to a new law that would divert billions of dollars …
Cancelling the London Olympics due, for example, to a security threat would result in damages of more than €4 billion ($4.9 billion), Andrew Duxbury, underwriting manager at Munich Re, told a German newspaper. “This was the sum of the insurable …
A.M. Best Europe Rating Services Limited has affirmed the financial strength rating (FSR) of ‘B++’ (Good) and the issuer credit rating (ICR) of “bbb” of SCHWARZMEER UND OSTSEE Versicherungs-Aktiengesellschaft SOVAG, which is based in Germany, both with stable outlooks.. SOVAG’s …
A wide range of suitors, from the son of Asia’s richest man and a former rugby player in New Zealand to more established players including AIA Group and Manulife Financial Corp, are expected to submit binding bids on Monday for …
The European Union may be forced to put back the January 2014 start date for its Solvency II capital regime for insurers after talks to agree a final draft of the strict new rules collapsed, Europe’s top insurance sector lobby …
