American Safety, Victore Insurance Bermuda-based American Safety Insurance Holdings Ltd.’s American Safety Casualty Insurance Co. (ASCIC) subsidiary has acquired Victore Insurance Co. (VIC), an Oklahoma domiciled admitted insurance company headquartered in Oklahoma City. VIC provides customized bonding solutions for the …
AIG, 21st Century Insurance, Farmers Group Inc. American International Group has closed the sale of 21st Century Insurance Group, the wholly owned subsidiaries of AIG’s U.S. personal auto insurance business, to Farmers Group Inc. (FGI), a subsidiary of Zurich for …
Most of Japan’s 300,000 Agencies Are Small, But They Are Dreaming Big ‘I’-Like The owners and producers of Japan’s estimated 300,000 insurance agencies can only dream of the success and freedom that the 40,000 independent agencies in the United States …
The U.S. property/casualty industry’s net income fell 87 percent to $1.2 billion in the first three months of 2009, according to A.M. Best. “The year-over-year decline in earnings was due primarily to the severe and prolonged turmoil in the financial …
Bankruptcy: General bankruptcy is a legal process that provides relief to those who can no longer pay all of their debts. The goal of the bankruptcy laws is to give debtors a “fresh start” by releasing debtors from specific debts …
In an unusually speedy move, a U.S. government agency released more than a thousand intelligence images of Arctic ice just a few hours after the National Academy of Sciences recommended the action to help scientists study the impact of climate …
According to catastrophe risk modeling firm AIR Worldwide, a major earthquake struck off the southwestern coast of New Zealand on Wednesday July 15 at 8:22 p.m. local time (9:22 a.m. UTC). The United States Geological Survey has issued a preliminary …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Bermuda-based Allied World Assurance Company and its operating affiliates. Best also affirmed the ICR of “bbb”, the debt rating …
The Nashville Songwriters Association International (NSAI) and Frost Specialty have created a group Copyright Infringement Insurance policy for songwriters, artist-songwriters, composers and music publishers. NSAI President, Grammy-nominated songwriter Steve Bogard said the policy promises to make the coverage affordable for …
A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and the issuer credit rating of “aa-” of Spain’s Ocaso, S.A. Seguros y Reaseguros, both with stable outlooks. “The ratings reflect the company’s superior risk-based capitalization, excellent operating …
