Philadelphia Insurance Companies


BestWeek/BestReview Subscription Required Ahead of Mid-Term Election, Industry Spends Millions Lobbying on NFIP, Health, Taxes

With the midterm election just weeks away, representatives of the U.S. insurance industry have spent $45.1 million to lobby Congress on top industry priorities, like extending the National Flood Insurance Program and continued reductions in the federal regulatory burden. Control of the U.S. House and Senate could flip with the outcome of the Nov. 6 vote. October 18, 2018 Full Story

BestWeek/BestReview Subscription Required Prudential SIFI Rescission Marks End of Era for Federal Regulators, Observers Say

The removal of the systemically important financial institution designation on Prudential Financial Inc. represents the end of an era of higher federal prudential oversight based on the intrinsic risks theoretically posed by globally active U.S.-based insurers, market observers said. October 18, 2018 Full Story

BestWeek/BestReview Subscription Required AIG Estimates Third-Quarter Catastrophe Losses at Up to $1.7 Billion

American International Group Inc. said it expects to report third-quarter 2018 pretax catastrophe losses, net of reinsurance, of about $1.5 billion to $1.7 billion. October 18, 2018 Full Story

Pinnacle Actuarial Resources

Asia/Pacific

Bermuda/Caribbean

Earnings

Property/Casualty

Ratings

  • BestWeek/BestReview Subscription Required A.M. Best Comments on Credit Ratings of Massachusetts Mutual Life Insurance Co. Following Sale of OppenheimerFunds To Invesco: A.M. Best has commented that the Credit Ratings (ratings) of Massachusetts Mutual Life Insurance Company (MassMutual) (Springfield, MA) remain unchanged following the Oct. 18, 2018, announcement that it has entered into an agreement to sell Oppenheimer Funds, Inc. (OppenheimerFunds) to Invesco. The Financial Strength Rating of A++ (Superior) and the Long-Term ICRs of “aa+” for MassMutual and its operating insurance subsidiaries also are unchanged following the announcement. Additionally, the Long-Term Issue Credit Ratings on MassMutual’s surplus notes of “aa-” and its notes issued under funding agreement-backed securities in MassMutual Global Funding, LLC and MassMutual Global Funding II of “aa+” remain unchanged. The outlooks of these ratings are stable. Full Story
  • BestWeek/BestReview Subscription Required A.M. Best Downgrades Credit Ratings of United India Insurance Company Limited: A.M. Best has downgraded the Financial Strength Rating (FSR) to B (Fair) from B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bb+” from “bbb” of United India Insurance Company Limited (United) (India). The outlook of the FSR has been revised to stable from negative, while the outlook of the Long-Term ICR remains negative. Full Story
  • BestWeek/BestReview Subscription Required A.M. Best Removes From Under Review, Affirms Credit Ratings of Capital General Insurance Co. and Capital Life Insurance Co.: A.M. Best has removed from under review with negative implications and affirmed the Financial Strength Rating (FSR) of C++ (Marginal) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “b+” of Capital General Insurance Company Limited (CGI). Concurrently, A.M. Best has removed from under review with negative implications and affirmed the FSR of C- (Weak) and Long-Term ICR of “cc” of Capital Life Insurance Company Limited (CLI). The outlook assigned to CLI’s Credit Ratings (ratings) is negative. The outlook assigned to the ratings of CGI is stable. Both CGI and CLI are subsidiaries of Capital Insurance Group Limited (CIGL) and domiciled in Papua New Guinea. Full Story
  • BestWeek/BestReview Subscription Required A.M. Best Upgrades Credit Ratings of Insurance Company of the West and Its Subsidiaries: A.M. Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” from “a-” of Insurance Company of the West and its wholly owned subsidiaries, Explorer Insurance Company and VerTerra Insurance Company (collectively referred to as ICW). The outlook of these Credit Ratings (ratings) has been revised to stable from positive. All companies are headquartered in San Diego, CA. Full Story

Reinsurance

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United Kingdom