A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) of Island Heritage Insurance Company Ltd (Cayman Islands). The rating outlook is stable. The rating reflects Island Heritage’s excellent capitalization, continued favorable underwriting and operating results, modest net …
After four years of litigation, and on the eve of trial, four companies in the ACE insurance group have reportedly agreed to pay $14 million to settle a national class action brought by a company in Lancaster County, Pennsylvania to …
Standard & Poor’s Ratings Services affirmed its ‘BBB-‘ counterparty credit and financial strength ratings on Best Meridian Insurance Co. (BMI) and its subsidiary, Best Meridian International Insurance Co. (Best Meridian International). The outlook remains negative. The ratings are based on …
United National Group, Ltd. announced that Stephen A. Cozen, Esq., the founder and Chairman of the Philadelphia law firm Cozen O’Connor, has been elected to its Board of Directors and has been appointed Chairman of the Compensation Committee. United National …
United National Group Ltd. announced the appointment of Professor Kenneth Singleton to its Board of Directors, increasing the number of board members from nine to 10. Singleton, the C.O.G. Miller Distinguished Professor of Finance at the Graduate School of Business, …
MarketScout, based in Dallas, announced it has selected Strategic Risk Solutions (SRS) as a “Best of Class” provider in the captive insurance market. According to MarketScout, SRS is the leading provider dedicated to captives and alternative risk transfer solutions. SRS …
United National Group, Ltd., a specialty insurer, headquartered in the Cayman Islands, announced that its subsidiary, Diamond State Insurance Company, has entered into a settlement with Bank of America and Platinum Indemnity Limited relative to litigation pending in the U.S. …
Both A.M. Best and Standard & Poor’s Ratings Services reacted to XL Capital Group’s announcement yesterday that its aggregate reserve additions in 2003 would be around $908 million pretax ($694 million in the fourth quarter). (See IJ Web site Jan.13) …
Two entities that were reportedly engaged in the motor vehicle service agreement business have been ordered to immediately cease operations, in Florida, and a licensed agent has been ordered to cease business related to the two entities. Warranty Gold, Ltd. …
Property and casualty insurer United National Group Ltd., which is based in the Cayman Islands, reported this week in a filing with the Securities and Exchange Commission that it will sell 9.75 million common Class A shares for $16 to …
