A federal judge in New Orleans has dismissed some claims in a lawsuit filed by a former Louisiana Attorney General Charles Foti against dozens of insurance companies over payments to policyholders receiving funds from the state’s Road Home homeowner grant …
Like spouses granted a divorce, AIG’s property/casualty insurance executives are relieved and excited about their newfound freedom. AIG is letting them form their own independent company called AIU Holdings. No longer will they have to answer for what their irresponsible …
Robert M. Bryar, president of C.M.Meiers Co. Inc. and CMM Entertainment has begun expansion plans to the entertainment division’s Woodland Hills, Calif., headquarters. The company is adding 25 percent more floor space to accomodate projected growth of CMM Entertainment. Expansion …
Swiss Re has announced that the “main terms of the convertible perpetual capital instrument to be issued to Berkshire Hathaway have been finalized.” The funding agreement was announced at the same time as Swiss Re’s 2008 earnings results, which revealed …
A.M. Best Co. has downgraded the issuer credit rating (ICR) to “a-” from “a” of the non-operating holding company, the UK’s AVIVA plc, and the financial strength rating (FSR) to’ A’ (Excellent) from ‘A+’ (Superior) and the ICRs to “a+” …
A.M. Best Co. has downgraded the financial strength rating to ‘B++’ (Good) from ‘A-‘ (Excellent) and the issuer credit rating to “bbb+” from “a-” of Hong Kong’s Wing Lung Insurance Company Limited (WLI). The outlook for both ratings is stable. …
Japanese non-life insurers Sompo Japan Insurance and NipponKoa Insurance plan to merge, an industry source said, in the second deal in less than two months in a sector struggling with slumping demand and a dwindling, ageing population. Japan’s non-life insurance …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and the issuer credit rating (ICR) of “aa” of Germany’s Allianz Societas Europaea (Allianz SE) and its main subsidiaries. The outlook for all of the ratings is …
Surplus lines insurance industry leaders in Florida hope legislation working its way through the state Legislature will clarify how the industry will be regulated. The industry has had concerns about its future since court decisions last year suggested that the …
Michigan’s regulator has reignited a debate over credit scoring by denying auto insurance companies requested rate increases because their proposed rate schemes include discounts for good credit scores. Commissioner Ken Ross said he has disapproved rate filings for seven insurers …
