Philadelphia Insurance Companies

Susan Neely

BestWeek/BestReview Subscription Required FSOC Removes SIFI Label for Prudential, the Last Insurer Designated

The Financial Stability Oversight Council has voted to rescind the systemically important financial institution designation for Prudential Financial Inc., ending five years of higher prudential oversight and supervision by the Federal Reserve. Prudential was the last SIFI-designated nonbank. October 17, 2018 Full Story

Stephen Young

BestWeek/BestReview Subscription Required Sompo International Reinsurance CEO: Insight Gained From Being Early to the M&A Party

Endurance Specialty Holdings was acquired by Japan’s Sompo Group and folded into Sompo International a year and a half ago — a transaction that gave the company valuable time to integrate its operations and watch as the rest of the industry accelerated its mergers and acquisitions activity. October 17, 2018 Full Story

BestWeek/BestReview Subscription Required Best’s Special Report: Insurers Increasing Hybrid Debt Issuance

Insurers are increasingly using the issuance of preferred stock and junior subordinated debt as a capital management tool amid the slowly rising interest rate environment, according to a new A.M. Best report. October 17, 2018 Full Story

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  • BestWeek/BestReview Subscription Required Kingstone Appoints New CEO: Kingstone Cos. Inc. has appointed Dale Thatcher as chief executive officer. He will succeed Barry Goldstein, who has been named executive chairman of the board of directors. Full Story


  • BestWeek/BestReview Subscription Required Horseshoe Group CEO: Convergence Capital Could Ultimately Go Retail: Andre Perez, chief executive officer of Horseshoe Group, said the continued growth and diversity of risks being covered by convergence capital means smaller investors eventually might have ways of allocating funds toward insurance-linked securities. Perez spoke with A.M. BestTV at the ILS Bermuda Convergence 2018 conference in Hamilton, Bermuda. Full Story


  • BestWeek/BestReview Subscription Required A.M. Best Affirms Credit Ratings of Argo Group International Holdings, Ltd. and Subsidiaries: A.M. Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a” of Argo Re Ltd. (Argo Re) (Pembroke, Bermuda) and its subsidiaries. A.M. Best also has affirmed the Long-Term ICR of “bbb” and the Long-Term Issue Credit Ratings (Long-Term IR) of the parent holding company, Argo Group International Holdings, Ltd. (Argo Group) (Pembroke, Bermuda) (NYSE: ARGO). Concurrently, A.M. Best has affirmed the Long-Term ICR of “bbb” and the Long-Term IR of “bbb” on $143.75 million 6.5% senior unsecured notes due 2042 of Argo Group US, Inc. (Argo US) (headquartered in San Antonio, TX). These senior notes are fully and unconditionally guaranteed by Argo Group. The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of the companies and ratings.) Full Story