The European Union could extend a planned levy beyond banks to other financial services firms, according to a report outlining the bloc’s message to G20 leaders who meet soon to tackle reform of the industry. The statement is likely to …
A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the P/C group, Horace Mann Insurance Group, its members and the life/health insurance company, Horace Mann Life Insurance Company. …
A.M. Best Co. has assigned a financial strength rating of ‘A-‘ (Excellent) and an issuer credit rating of “a-” to Barbados-based Wentworth Insurance Company Limited, an indirect, wholly owned subsidiary of Fairfax Financial Holdings Limited, and has assigned a stable …
The Ohio Department of Insurance has revoked the licenses of two troubled insurance companies: Imperial Casualty and Indemnity Co. of Oklahoma City, Okla., and Atlantic Mutual Insurance Co. (AMIC) of New York, N.Y. In March 2010, the District Court of …
North Carolina property and liability insurers are taking their case to the public to impede an effort in the Legislature to change how monetary awards are determined in negligence cases. The Insurance Federation of North Carolina has been running radio …
Standard & Poor’s Ratings Services announced that its on American International Group Inc. , currently ‘A-‘ – Negative – debt ‘/A-1,’ and its insurance subsidiaries (most of which are rated A+/Negative/–) are not affected by the company’s announcement that it …
Marsh’s London office has announced the launch of a “dedicated practice to provide expert risk and insurance advice to insolvency practitioners in the UK.” The bulletin explained that the move follows “a sharp increase in demand for specialist insolvency insurance …
A.M. Best Co. has affirmed the issuer credit rating (ICR) of “bbb” and the unsecured debt and preferred equity ratings of Toronto-based Fairfax Financial Holdings Limited. Best also affirmed the ICR of “bbb” and unsecured debt rating of Crum & …
The U.S. Deepwater Horizon and Venezuelan Aban Pearl drilling rig losses have left upstream energy insurers with an unprecedented bill of $795 million within the space of a single month, destabilizing the market and driving up rates, according to a …
The Group of North American Insurance Enterprises (GNAIE), an association representing the Chief Financial Officers of major life insurance companies in Bermuda, Canada, and the United States, has joined with four other insurance industry trade associations based in North and …
