Bermuda-based Ariel Reinsurance Company Ltd. announced the opening of a representative office in Rio de Janeiro, Brazil and its approval as an admitted reinsurer by the Brazilian insurance regulator, Superintendência de Seguros Privados (SUSEP). Ariel Re’ said its “initial focus …
A California-based health insurance company has agreed to pay Connecticut $250,000 for losing a disk drive containing private information of 1.5 million customers, including nearly 450,000 state residents. Attorney General Richard Blumenthal announced that along with the settlement, Health Net …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Lloyd’s of London and Lloyd’s Reinsurance Company (China) Limited. Best also affirmed the ICR of “a” of the Society of …
The Excess Line Association of New York has appointed Jasmin Chen Johnson as financial director. She will be responsible for conducting financial analysis, review and monitoring of all New York-eligible excess line insurers. She has over 15 years of experience …
A district court judge has authorized Oklahoma Insurance Commissioner Kim Holland to place Pegasus Insurance Co. into rehabilita-tion. Pegasus specializes in workers’ compensation for professional employer organizations (PEOs), or employee leasing entities, according to information posted on the company’s Web …
California Insurance Commissioner Steve Poizner announced that his focus on reducing the exposure of California policyholders to risky Iran-related investments resulted in insurers selling nearly one-fifth of the assets the industry holds in the 50 companies the California Department of …
Aon Benfield has released its July first “Renewals Update” report, which indicates that “rates continue to decline in all major regions without significant catastrophe loss activity in the last 12 months.” Aon noted that the effects of the Chilean Earthquake …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating of “a-” of Swiss-based Glacier Reinsurance AG (Glacier Re) (Switzerland), and has removed the ratings from under review with negative implications and assigned …
Lightyear Capital LLC, a New York-based private equity firm, has completed the sale of crop insurer The NAU Group to QBE Holdings, Inc. NAU is now a wholly-owned subsidiary of QBE. As consideration for the merger, QBE made a cash …
A new report from Willis Re, the reinsurance broking arm of Willis Group Holdings, has concluded that “losses from the Chile earthquake and storms in Australia in the first quarter of 2010 have had little impact on pricing in the …
