The Florida Workers’ Compensation Insurance Guaranty Association announces its newly elected / re-elected board of directors. Terms begin Oct. 1, 2009 and run through Sept. 30, 2013. Heading the FWCIGA board is Tom Stahl who has served as cairman of …
The Dublin International Insurance & Management Association (DIMA), the representative body for the international re/insurance industry in Ireland, has announced “another record year of premium income growth,” despite the serious economic effects of the current recession on the overall Irish …
Bermuda-based PartnerRe Ltd. announced that it has entered into definitive agreements amending the acquisition structure of PARIS RE Holdings Limited (Euronext:PRI), the French-listed, Swiss-based diversified reinsurer that it’s in the process of acquiring [See IJ web site – https://www.insurancejournal.com/news/international/2009/07/06/101953.htm.] PartnerRe …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit rating (ICR) of “a-” of Accident & General Insurance Company Ltd. (AGI) of the Cayman Islands, both with stable outlooks. Best then withdrew the …
Standard & Poor’s Ratings Services has lowered its unsolicited long-term counterparty credit and senior unsecured debt ratings on Toronto-based specialty insurance provider Kingsway Financial Services Inc. to ‘CCC+’ from ‘B-‘ with a negative outlook. “The downgrade reflects our concerns over …
Private U.S. property/casualty insurers’ net income after taxes fell 59.3 percent to $5.8 billion in first-half 2009 from $14.1 billion in first-half 2008. Insurers’ overall profitability as measured by their annualized rate of return on average policyholders’ surplus (or statutory …
State insurance regulators are throwing their weight behind a federal measure that would change the way reinsurance is regulated. The National Association of Insurance Commissioners (NAIC) is supporting the Reinsurance Regulatory Modernization Act of 2009, which has not yet been …
Bermuda-based PartnerRe Ltd. announced that its shareholders, at a Special General Meeting, have approved all of the proposals unanimously recommended by the Company’s Board of Directors to effect the Company’s proposed acquisition of PARIS RE, a French-listed, Swiss-based diversified reinsurer …
The Bermuda Monetary Authority (BMA) has signed a Memorandum of Understanding (MOU) with the Florida Office of Insurance Regulation (FLOIR). The bulletin noted that it “is the latest in a number of such agreements that the Authority has signed to …
Insurance may emerge as the next big growth area in Canadian banking, even though regulations prohibit lenders from selling via their branches and insurance brokers vehemently oppose the move. When Canada’s biggest bankers convened last week to talk about growth …
