Several U.S. private equity firms and Taiwanese financial groups are showing early interest in the sale of AIG’s Taiwan life insurance unit, banking sources said on Friday, in a deal the seller hopes could raise around $2 billion. U.S. private …
Bailed out U.S. insurer American International Group has chosen Deutsche Bank and Morgan Stanley as its joint global coordinators for a more than $4 billion IPO of its Asian life insurance unit, sources said on Thursday. The American International Assurance …
A.M. Best Co. has downgraded the financial strength rating to B (Fair) from B+ (Good) and issuer credit rating to “bb” from “bbb-” of State Farm Florida Insurance Co. The rating agency’s outlook for the insurer has been revised to …
A former business executive was sentenced Tuesday to two years of probation for his role in an accounting scandal that cost shareholders of insurer American International Group Inc. more than $500 million. John Houldsworth, the former chief executive officer of …
Standard & Poor’s Ratings Services has assigned its ‘A+’ counterparty credit and financial strength ratings to Everest Reinsurance Co. (Ireland) Ltd. S&P also said the outlook on Everest Re Ireland is stable. S&P noted that Everest Re Ireland is a …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and the issuer credit rating (ICR) of “a-” of French-based Paris Re and the other rated operating subsidiaries of PARIS RE Holdings Limited (Switzerland) (PRH), the ultimate …
Standard & Poor’s Ratings Services has affirmed its ‘BBB-‘ counterparty credit rating on Max Capital Group Ltd. and removed it from CreditWatch, where it was placed on March 2, 2009.The outlook on the group’s ratings is positive. S&P took the …
Florida Governor Charlie Crist has signed into law legislation blocking local governments from billing motorists for emergency response services at the scene of an automobile accident. SB 2282, sponsored by Sen. Mike Bennett (R.-Bradenton) prohibits local governments from levying additional …
Amerisafe Inc., a DeRidder, La.-based specialty writer of high hazard workers’ compensation insurance, has appointed Brendan Gau as executive vice president and chief investment officer. Gau’s appointment is effective June 23. Prior to joining Amerisafe, Gau previously was employed by …
The Obama administration’s views on insurance regulation are in keeping with those of many within the property/casualty insurance industry as well as state regulators who now regulate the industry. Most in the industry are happy that the Obama Treasury Department …
