A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of General Insurance Corporation of India (GIC), both with stable outlooks. The ratings reflect GIC’s “strong capitalization, stable expense ratio and established …
Arkansas Insurance Commissioner Jay Bradford on March 11 suspended the certificates of authority to conduct insurance business of two New York domiciled property and casualty insurance companies: Centennial Insurance Company and Atlantic Mutual Insurance Company. According to the commissioner’s orders …
Thousands of workers who suffered health problems after the Sept. 11 attacks in 2001 have reached a settlement worth up to $657.5 million with an insurer representing the city of New York, city officials and lawyers said Thursday. Thousands of …
Bermuda-based RenaissanceRe Holdings announced that based on its initial assessment, the “impact of the Chilean earthquake and windstorm Xynthia on its financial results (net of reinstatement premiums, retrocessional recoveries and non-controlling interest) will be significant and could be material.” The …
A.M. Best Co. has affirmed the financial strength rating (FSR) of A+ (Superior) and issuer credit ratings (ICR) of “aa-” of Renaissance Reinsurance Ltd. and Renaissance Reinsurance of Europe, which is headquartered in Dublin, Ireland. Best also affirmed the ICR …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of American Modern Insurance Group of Amelia, Ohio and its property/casualty members. The outlook for all ratings is stable. Best …
The California State Compensation Insurance Fund, reported it ended 2009 with $1.25 billion in net premium earned, and $143 million in net income, compared with $75 million in net income earned in 2008, Doug Stewart, interim president and CEO announced. …
The Bermuda-based Everest Re Group announced that its preliminary loss estimate for exposures relating to the earthquake in Chile is $225 million. It also estimated its loss for expected claims from European Windstorm Xynthia to be approximately $25 million. “Both …
With the prospects for a controversial rate deregulation bill dimmed by Gov. Charlie Crist’s threat of a veto, the insurance industry is betting on a new wide-ranging insurance proposal to bring some reform to Florida’s property insurance market. A key …
Health and Human Services Secretary Kathleen Sebelius ratcheted up the pressure on health insurance companies Wednesday, urging them to forgo short-term profits to make coverage more affordable and to stop fighting the Obama administration’s reform effort. She told a health …
