A.M. Best Co. has assigned a financial strength rating of “A” (Excellent) and issuer credit rating of “a” to Veterinary Pet Insurance Co. of Brea, Calif. The outlook assigned to both ratings is stable. VPI is a wholly owned subsidiary …
Columbus, Ohio-based Nationwide Insurance has reported that consolidated net operating income through September 30 was up 39 percent to $975 million. That is compared to $702 million in the first three quarters of 2009. The increase was due to lower …
The Board of Governors of Emergency Physicians Insurance Company (EPIC), a California-based medical professional liability insurance provider, has elected Graham Billingham president and CEO. Billingham is a 25-year veteran emergency physician and has been with EPIC for six years. He …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of AXIS Specialty Limited (AXIS) and its operating affiliates. Best also affirmed the ICR of “bbb+” and all existing debt …
The U.S. property/casualty personal lines insurance industry remains financially sound despite the weak economy and prolonged soft, though improving, pricing environment, Moody’s Investors Service says in its new Industry Scorecard report. “While some companies reported marginal or even negative premium …
Fort Worth, Texas-based Hallmark Financial Services Inc. has reported third quarter 2010 net earnings of $1.0 million compared to $4.2 million reported for the third quarter of 2009. Year to date, Hallmark reported net earnings of $6.9 million, compared to …
Florida insurance officials have agreed that three Bermuda-based reinsurers can participate in Florida’s insurance marketplace without having to post millions of dollars in extra collateral. The Office of Insurance Regulation’s (OIR) agreements are with Ace Tempest Reinsurance Ltd., Hiscox Insurance …
Living to 100 This article is based on a presentation Hartwig gave at the National Association of Mutual Insurance Companies Annual Convention. The complete presentation, “How to Live to Be 100 in the Property/Casualty Insurance Industry,” can be downloaded at …
A.M. Best Co. has assigned a financial strength rating of ‘A-‘ (Excellent) and an issuer credit rating of “a-” to Aioi Insurance Company (China) Limited, both with stable outlooks. The ratings reflect AIC’s “favorable risk-adjusted capitalization, excellent liquidity position and …
A.M. Best Europe – Rating Services Limited has affirmed the Best’s Syndicate Rating of ‘A’ (Excellent) and issuer credit rating of “a+” of Lloyd’s Syndicate 609, which is managed by Atrium Underwriters Limited (AUL). The outlook for both ratings remains …
