White Mountains Re Ltd., a wholly owned subsidiary of White Mountains Insurance Group Ltd. has agreed to acquire Central National Insurance Company of Omaha, Neb., from Drum Financial Corporation. In runoff since 1989, Central National has been operated under an …
Validus Holdings announced that it has priced a registered offering of $250 million aggregate principal amount of 8.875 percent Senior Notes due 2040. They are to be sold to the public at a “price of 98.71 percent of principal.” The …
Standard & Poor’s Ratings Services announced that its ratings on “U.S.-based Assurant Inc. (BBB/Negative/A-2) and related entities are not affected by the settlement of an SEC investigation regarding certain loss-mitigation insurance products. The reinsurance contract under examination had $2.6 million …
Standard & Poor’s Ratings Services stated that its ratings on Japan’s financial institutions and insurance companies “would be unaffected by the debt forgiveness requested by Japan Airlines Corp. (JAL) to lenders as part of its bankruptcy procedures under the Corporate …
Washington Insurance Commissioner Mike Kreidler is seeking to prohibit the use of credit history, education and income for rating and underwriting personal insurance — the effect of which would likely result in higher costs for consumers and less accuracy in …
The Board of County Supervisors in Prince William County, Virginia is considering raising the cost of an ambulance trip. The board on Tuesday moved forward with a plan to have insurance companies pay between $400 and $700 plus $10 per …
Zenith National Insurance Corp. plans to release fourth quarter and year end 2009 financial results on Jan. 28, 2010 at the end of its business day. Also, the Woodland Hills, Calif.-based company announced that Judge Pamela Foust has joined the …
The Securities and Exchange Commission today charged General Re Corp. for its involvement in separate schemes by American International Group (AIG) and Prudential Financial, Inc. to manipulate and falsify their reported financial results. The SEC said Gen Re agreed to …
The ProBuilders risk retention group offering general liability insurance for builders and contractors will stop accepting new business and not renew most of its 1,800 policies as of March 1. According to Bill Tepe, chief financial officer for NationsBuilder Insurance …
Swiss Re has concluded an agreement with Berkshire Hathaway Life Insurance Company of Nebraska to cede, a “closed block of yearly renewable term individual life reinsurance business, written prior to 2004.” The transfer is retroactive to October 1, 2009. Swis …
