Latest Assurance Headlines
All the headlines from our Assurance Topic Page, ordered by recency.
Progressive’s Olie Named President of Plymouth Rock Assurance
Aug 5 2009 // Northeast personal lines insurer Plymouth Rock Assurance Corp. reported that Chris Olie will assume the role of president, a position currently held by Hal Belodoff. Belodoff will become chairman of Plymouth Rock Assurance...
Best Affirms Allied World and Operating Affiliates ‘A’ Ratings
Jul 16 2009 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Bermuda-based Allied World Assurance Company and its operating affiliates....
Best Withdraws ‘Public Data’ Ratings on UK Insurance Companies
Jul 13 2009 // A.M. Best Co. announced that it has “withdrawn all public data (pd) ratings on UK insurance companies. Best last reveiwed the listed companies in December 2007. The financial strength ratings (FSR) and issuer credit...
Pinnacol Assurance Named One of 50 Best Employers to Work For
Jun 30 2009 // Denver-based workers’ compensation insurer Pinnacol Assurance has been recognized as one of the top 50 best companies to work for in America by the Society for Human Resource Management (SHRM) and the Great Place to...
Points of Light Institute Honors Pinnacol Assurance
Jun 25 2009 // Denver-based Pinnacol Assurance is being honored by the Points of Light Institute with the 2009 Corporate Engagement Award of Excellence. The award recognizes a business’s overall employee/retiree volunteer...
Ratings Roundup: Plymouth Rock, American Sterling, Mercer, Iron Horse, Agrinational, Intrepid
Jun 25 2009 // A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit ratings of “a-” of Plymouth Rock Assurance Group...
A.M. Best Lower Outlook for Boston’s Plymouth Rock Assurance Corp.
Jun 19 2009 // A.M. Best has revised the outlook to negative for Boston-based insurer Plymouth Rock Assurance Group. Despite the outlook downgrade, A.M. Best Co. affirmed the financial strength rating of A- (Excellent) and issuer credit...
Pinnacol Assurance Issues $120 Million in General Dividends
May 20 2009 // Denver-based Pinnacol Assurance, a Colorado source for workers’ compensation insurance, announced it is issuing general dividend checks totaling approximately $120 million to its policyholders. During the past five...
Ratings Recap: Allianz, Swiss Re (Notes), Everest Re (Ireland), Civic
May 18 2009 // Standard & Poor’s Ratings Services issued a statement that its ratings and outlook on Germany’s Allianz SE (AZSE), currently ‘AA’/Stable/’A-1+’, and various core operating entities...
AIG’s Top Asia Executive Tse Retires
Mar 20 2009 // Edmund Tse, the top American International Group Inc. executive in Asia, is retiring, the troubled insurer said on Friday. Tse, who is in his early 70s, has worked at AIG since 1961, and was once considered a top candidate...
People
Feb 22 2009 // Juan Andrade and Jonathan Bennett have been named as interim co-leads of the Property and Casualty Operations of The Hartford. Their appointment to those interim positions follows the departure of Neil Wolin, president and...
Assurance Agency in Illinois Promotes Klaras to President
Feb 10 2009 // Assurance Agency, Ltd., based in Schaumburg, Illinois, has promoted Dan Klaras from executive vice president to president. Klaras takes over for Anthony Chimino, who previously held the titles of both president and CEO....
Fitch On AIG Rating Watch Revision
Sep 18 2008 // On Sept. 17, Fitch Ratings revised its Rating Watch on American International Group Inc. (AIG) and its subsidiaries to Evolving from Negative following the announcement that its board has approved a transaction under which...
Rating Agencies React Negatively to XL, SCA Bailout Plan
Jul 30 2008 // XL Capital received the inevitable negative reaction from the rating agencies following its announcement that it would pay $1.78 billion in cash and issue 8 million shares as part of a bailout plan to shore up former...
Mutual Assurance Acquires Tennessee-based Pittman & Associates
Jul 22 2008 // Mutual Assurance Administrators Inc. (MAA) of Oklahoma City has acquired Pittman & Associates Inc. (P&A) of Tennessee. Mutual Assurance Administrators Inc. is a third-party administrator specializing in...
Allied World Assurance to Acquire Darwin Professional Underwriters
Jun 30 2008 // Bermuda-based Allied World Assurance Co., Ltd. has agreed to acquire Connecticut-based Darwin Professional Underwriters, Inc. Darwin offers specialty and primary professional lines coverages, which include health care...
South Carolina Medical Association Launches Medical Liability Company
Jun 11 2008 // The South Carolina Medical Association launched its new subsidiary, the South Carolina Physician Assurance Co. The new insurance company will provide medical malpractice coverage to qualifying physicians who are members of...
Ratings Roundup: Civic Assurance, Ballantyne Re
May 27 2008 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of New Zealand Local Government Insurance Corporation Limited (Civic Assurance) with a...
S&P Rates Berkshire Hathaway Assurance ‘AAA’; Outlook Stable
Apr 14 2008 // Standard & Poor’s Ratings Services has assigned its ‘AAA’ financial strength and financial enhancement ratings to Berkshire Hathaway Assurance Corp. (BHAC). S&P also assigned its...
Fitch Downgrades SCA; XL Comments
Mar 28 2008 // Fitch Ratings has downgraded the insurer financial strength (IFS) to ‘BB’ from ‘A’ for the following ratings on Security Capital Assurance Ltd. (SCA) and its financial guaranty insurance...
