Imagine Insurance Company Limited, a member of The Imagine Group, announced that it has entered into an agreement in principle to acquire all of the outstanding shares of Abacus Syndicates Limited and Abacus Underwriting Agency Limited, subject to final documentation …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) of United Insurance Company Limited (Bridgetown, Barbados) with a stable outlook. “The rating reflects United’s solid capitalization on a risk-adjusted basis, consistently favorable underwriting performance, …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) of Sagicor General Insurance Inc. (Bridgetown, Barbados) with a stable outlook. “The rating reflects Sagicor’s solid risk-based capitalization, excellent operating performance, consistently prudent underwriting leverage …
Berkshire Hathaway, General Electric Omaha, Neb.-based Berkshire Hathaway and Kansas City, Mo.-based General Electric announced that GE Insurance Solutions’ sale of Medical Protective Corporation to Columbia Insurance, a unit of Berkshire Hathaway, became effective recently. The sale price was $825 …
Tropical Storm Emily had 60 mph winds early Wednesday morning and was continuing on its path into the Caribbean. The National Weather Service reported at 5 a.m. its eye was 260 miles southeast of Barbados at latitude 11.1 north and …
Strategy International Insurance Group, Inc. announced from its Toronto office that it has been named by Value Guaranteed Vacations Inc. (VGV Inc.) as the exclusive insurer for its affinity program, the VGV(TM) Program. Coverage will be provided through two of …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) and the issuer credit rating (ICR) of “a-” of Barbados-based Imagine Insurance Company Limited. Best has removed the ratings from “under review “and assigned a …
AG Targets Ex-Execs Greenberg and Smith; AIG Restates Financials; Is Settlement Next? From the 1980s until recently, insurance giant American International Group and its top executives “routinely engaged in misleading accounting and financial reporting, projecting an unduly positive picture of …
AG Targets Ex-Execs Greenberg and Smith; AIG Restates Financials; Is Settlement Next? – Maurice “Hank” Greenberg, AIG CEO, 1992 From the 1980s until recently, insurance giant American International Group and its top executives “routinely engaged in misleading accounting and financial …
Birmingham, Ala.-based Vesta Insurance Group Inc. has entered into a definitive agreement to sell its life insurance operations, American Founders Life, for approximately $58.0 million in cash to a U.S. subsidiary of Sagicor Financial Corp., a Barbados-based financial services group. …
