The Financial Stability Oversight Council (FSOC) designated AIG as a Systemically Important Financial Institution (SIFI) after determining that “material financial distress at AIG could pose a threat to U.S. financial stability.” One may debate whether AIG should be a SIFI …
Following a downgrade of its financial strength ratings (FSR) to “B++” from “A-” by A.M. Best Co. on Friday, Meadowbrook Insurance Group announced that it will seek to make arrangements with an A-rated insurance company to issue some policies. In …
Global insurance broker Hub International Limited (Hub), said it has agreed to be acquired by funds advised by Hellman & Friedman LLC. The transaction values Hub at approximately $4.4 billion. Under the terms of the agreement, investment funds managed by …
Growing personal lines agency Confie Seguros has acquired Economy Insurance Mart of Spring Hill, Fla., which sells auto, home and small commercial insurance. Economy Insurance Agency was founded in 1993 and is a privately owned independent insurance agency serving Hernando …
The Mississippi Supreme Court has upheld a ruling that the Diamondhead Fire Protection District can charge a fee for its services to local property owners. Hancock County Circuit Judge Roger Clark ruled last year that the DFPD had authority to …
Yamaha Motor Co.’s WaveRunner was the most sought-after watercraft among U.S. thieves in 2012 as Florida had the highest number of stolen boats, an insurance- industry group said. A total of 538 WaveRunners were stolen last year, the National Insurance …
Catalina Holdings (Bermuda) Ltd, a long term consolidator in the non-life run-off sector, announced that funds and other entities “managed or advised by Apollo Global Management, and/or its subsidiaries (collectively, ‘Apollo’) have agreed to acquire, via a newly formed entity, …
Robust insurer earnings helped drive European shares to a two-month high on Friday, while mixed U.S. jobs data supported the view the Federal Reserve may be more cautious about cutting back on its economic stimulus. The STOXX Europe 600 Insurance …
The Association of British Insurers has long targeted the epidemic of automobile accidents that result in claims for “whiplash” injuries for reform. In April it highlighted the fact that the UK was the “whiplash capital of Europe.” In its most …
Aviva PLC is planning to pull out of its Indian insurance joint venture, valued at more than $500 million, as the British insurer retreats from less-profitable markets where it has struggled to grow its business, sources said. Aviva is in …
