More European insurers unveiled writedowns on their investments in a second wave of first-quarter results on Thursday, although some said sales were proving relatively resilient. Analysts said investors were left with something of a mixed picture, with signs of improving …
Florida officials have rejected a rule that would have expanded a ban on auto insurance surcharges for drivers involved in collisions where they were not found at fault. The state currently prohibits insurers from surcharging existing customers with not-at-fault accidents …
Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and senior unsecured debt ratings on Toronto-based specialty insurance provider Kingsway Financial Services Inc. to ‘B-‘ from ‘B’. S&P also removed the ratings from CreditWatch with negative implications, where …
Dutch banking and insurance group ING reported on Wednesday a much bigger than expected first-quarter net loss of €793 million ($1.085 billion), or 39 €-cents (53.3 U.S. cents) per share, hurt by a sharply weaker insurance business. “Market conditions remained …
Representatives of Florida insurance regulators and State Farm Florida believe they will be able to resolve their differences over how the insurer may exit the state’s insurance marketplace by June 15. Lawyers for the adversaries asked for and have been …
A.M. Best Co. has affirmed the financial strength ratings of ‘A’ (Excellent) and issuer credit ratings of “a” of Transatlantic Holdings Inc. Group and its members, – Transatlantic Reinsurance Company (New York, NY) and Trans Re Zurich (Switzerland), along with …
Louisiana House Bill 208, which would force insurers to provide the maximum policy limits for automobile liability insurance coverage to anyone driving the insured’s vehicle, has been approved by the House Committee on Insurance, according to the Property Casualty Insurers …
The Obama Administration has come out in opposition to expanding the federal flood insurance program by letting it add coverage for wind damage. The administration said it opposes the expansion because it would further burden the debt-ridden flood program and …
A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of AXA Assurances Inc. Of Montreal, Quebec and its wholly owned subsidiaries, AXA Insurance (Canada), AXA Pacific Insurance Company, AXA …
The Bermuda-based Everest Re Group has appointed Dominic J. Addesso to the position of Executive Vice President and Chief Financial Officer, effective May 8, 2009. He joins Everest from Munich Re America where he held the position of President of …
