The nation’s bank holding companies experienced a slight increase of 0.5 percent in their total insurance revenue from $43.5 billion in 2006 to $43.7 billion in 2007. Citigroup Inc. (N.Y.), Wells Fargo & Co. (Calif.), HSBC North America Holdings (Ill.), …
Standard & Poor’s Ratings Services has assigned its ‘AAA’ financial strength and financial enhancement ratings to Berkshire Hathaway Assurance Corp. (BHAC). S&P also assigned its ‘AAA’ financial enhancement rating to Columbia Insurance Co. The outlook on both these entities is …
Fitch Ratings has affirmed the ‘A-‘ insurer financial strength (IFS) ratings of Imagine Insurance Company Limited (Imagine) and Imagine International Reinsurance Limited with stable outlooks. “The affirmations reflect Imagine’s good operating results, historically strong capital formation rate, and the continued …
The U.S. commercial lines property/casualty insurance “soft” pricing cycle will likely mean outlooks on some commercial lines insurers will be revised to negative in the second half of 2008, according to Standard & Poor’s Ratings Services. In a new article, …
American International Group, the world’s largest insurer, cut Chief Executive Martin Sullivan’s 2007 pay by about 48 percent from 2006, to $13.93 million, according to a regulatory filing late Friday. Sullivan, who is entering his third year as AIG chief, …
Standard & Poor’s Ratings Services has assigned its ‘AA’ counterparty credit and insurer financial strength rating to German insurers DBV-Winterthur Lebensversicherung AG, DBV-Winterthur Krankenversicherung AG, DBV-Winterthur Versicherung AG, and DBV Deutsche Beamten-Versicherung AG with stable outlooks. “The ratings reflect our …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and the issuer credit rating (ICR) of “a-” of Chicago-based SeaBright Insurance Company (SBIC) Best also affirmed the ICR of “bbb-” of SBIC’s holding company, Delaware -based …
“Most insurance companies use the ‘yellow pad/gift of gab’ approach,” said John Keenan. “The agent sits down, flips open a yellow legal pad, and says, ‘Tell me about your business.’ That’s like a doctor telling a patient, ‘What side is …
Atlanta-based broker just keeps going and going while striving to maintain service excellence The “Energizer Bunny” of property/casualty insurance brokerages worldwide — that seems an apt description for Atlanta-based Beecher Carlson, which is ranked as the seventh-largest privately-held independent agency …
Standard & Poor’s Ratings Services has affirmed its ‘BBB-‘ counterparty credit rating on Argonaut Group Inc. (AGI), a wholly owned subsidiary of Argo Group International Holdings Ltd. and its ‘A-‘ counterparty credit and financial strength ratings on AGI’s insurance company …
