A.M. Best Co. has upgraded the financial strength rating to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit ratings to “a” from “a-” of Western National Insurance Group (WNG) and its members. The group’s ratings are based on the consolidated …
A judge must explain to the Nebraska Supreme Court why he ordered a new trial in a multimillion dollar insurance dispute involving Florida and Omaha-based Countrywide Insurance Agency. In June 2008, the Supreme Court threw out Douglas County District Judge …
Property/casualty insurer Ironshore Inc. in Bermuda has completed an equity capital deal that will raise $300 million to support the continued expansion of Ironshore’s specialty insurance business. Lead investors in this transaction include GTCR Golder Rauner, LLC, a private equity …
Missouri insurance regulators have gone to court to stop an Arkansas-based life insurance company from illegally changing the terms of its cancer insurance policies, the Missouri Department of Insurance announced. The DOI alleges Central United Life Insurance Company is trying …
Two years into the global financial crisis, global reinsurers’ performance to date could be counted as an achievement, given the state of the financial services industry and the economy, says A.M. Best. The reinsurance industry entered 2009 with sound underwriting …
Swiss Re is intensifying its efforts to urge governments to take a “more joined-up approach to managing risk.” At a recent conference in Helsinki, Swiss Re, through its Nordic Risk & Insurance Summit (NORIS™), to suggest how governments can improve …
The Golden Eagle Insurance Co. will pay $400,000 to cover environmental investigation costs that the insolvent BKK Corp. was required to perform at its closed hazardous waste landfill in West Covina, Calif., the U.S. Environmental Protection Agency and the U.S. …
Canada’s home, car and business insurers have urged residents affected by tornadoes that recently tore through southern Ontario to check their homeowner’s policy and contact their insurance representative as soon as possible. “Wind and hail damage due to tornadoes is …
Bermuda-based Ariel Reinsurance Company Ltd. has opened a branch office in Zurich to engage in the writing of credit & surety reinsurance on a global basis starting with the 2010 renewal season. The Zurich Branch, located in Zurich’s main insurance …
A.M. Best Co. has affirmed the Best’s Syndicate Rating of ‘A ‘(Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 1084. Best also affirmed the ICR of “bbb” of Chaucer Holdings PLC (CHP), the ultimate parent company …
