The Bermuda-based Everest Re Group has acquired the business and operations of Heartland Crop Insurance, Inc., a managing general agent, for $55 million plus the agreed upon value of the net assets of the agency, with an additional contingency of …
As the Gulf oil spill gushed out of control, BP’s financial liabilities seemed big enough to sink the company. No more. Cleanup, government fines, lawsuits, legal fees and damage claims will likely exceed the $40 billion that BP has publicly …
As the Gulf oil spill gushed out of control, BP’s financial liabilities seemed big enough to sink the company. No more. Cleanup, government fines, lawsuits, legal fees and damage claims will likely exceed the $40 billion that BP has publicly …
Heavy rains and flooding in Australia’s key coal-producing Queensland state have impacted mining operations and brought parts of the coal infrastructure, including rail and ports, to a standstill, operators said on Wednesday. Dalrymple Bay Coal terminal and Gladstone Ports, two …
A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A++’ (Superior) and issuer credit ratings (ICR) of “aaa” of Texas-based United Services Automobile Association (USAA) and its property/casualty and life/health subsidiaries. Best also affirmed the debt rating of …
Bakerjian Insurance Services (BIS) has launched of a new insurance product designed to protect lenders against potential damage from repurchase demands. Called Lenders Misrepresentation Insurance (LMI), the policy compensates the lender if the loan is put back by their investor …
Many Florida homeowners expected relief from the higher property insurance bills that followed the busy 2004 and 2005 hurricane seasons. But more than 4 million homeowners are about to get hit by rate hikes and disappearing coverage. State regulators have …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a” of Bermuda-based PMG Assurance Ltd., both with stable outlooks. The ratings reflect PMG’s “excellent capitalization, historically strong operating performance and …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a” of Germany’s HDI Haftpflichtverband der Deutschen Industrie V.a.G. (HDI V.a.G.), the ultimate mutual parent company …
A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit ratings of “aa” of Allianz Global Corporate & Specialty North America (AGCS NA), which includes Allianz Global Risk US Insurance Company, Allianz Underwriters Insurance Company, …
