AM Best announced Thursday that it has downgraded the financial strength rating to A (excellent) from A+ (superior) and the long-term issuer credit ratings to “a+” (Excellent) from “aa-” (Superior) of SCOR SE and its main operating subsidiaries. The rating …
According to a new analysis by the National Insurance Crime Bureau, more than one million vehicles were stolen in the United States last year – marking a 7% increase over 2021. Monthly theft totals nationwide consistently exceeded 75,000 in 2022. …
Environmental organizations have filed a civil rights complaint against Alabama, accusing the state of discriminating against minority communities in how it distributes funding for wastewater infrastructure, including money for families who need help dealing with raw sewage in their yards. …
The year 2022 is in the books for most U.S. property/casualty insurers as the days tick down to statutory filing deadlines. Putting the numbers together, AM Best revealed just how bad the aggregate results looked overall. The rating agency’s recent …
Voters in Vermont’s largest city have rejected a proposal for a community police oversight board that would have had the authority to discipline and remove Burlington police officers. Burlington Mayor Miro Weinberger, a Democrat, vetoed a similar measure in 2020. …
Mehmet Alkan, a shoe-sole manufacturer in Turkey’s earthquake-hit south, doesn’t know what will become of his company after some of his 220 employees died and half fled, reflecting the difficult transformation ahead for industry in the region. Forty of his …
Asta, the leading third-party managing agent at Lloyd’s, announced it is strengthening its global presence by establishing a service company in Singapore. With the Asian market presenting extensive opportunities, Asta has launched a service company that will enable clients easily …
Allianz Group announced it is restructuring its global commercial insurance segment as one go-to-market business under the trading name Allianz Commercial, which will encompass its Allianz Global Corporate & Specialty (AGCS) business, serving large corporate clients, and the insurance businesses …
A new Chinese financial watchdog will help bridge regulatory gaps but analysts and investors say the agency will consolidate power at the top and could introduce more state and party intervention. In a major shake-up, China will set up the …
Apollo, the London-based independent specialist insurer and reinsurer, announced a three-year agreement with Praedicat, the California-based emerging risk analytics and modeling company, that will deploy Praedicat’s technology and data for Apollo’s underwriting and portfolio management. Praedicat’s CoMeta™ platform creates underwriting …
