AM Best Affirms Credit Ratings of UnipolSai Assicurazioni S.p.A.: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of UnipolSai Assicurazioni S.p.A. (UnipolSai) (Italy). The outlook of these Credit Ratings (ratings) is ...
Date: July 10, 2020 02:58:25

Brazilian Reinsurer IRB to Raise $430 Million Through Common Stock Offering: IRB-Brasil Resseguros S.A. said its board of directors approved a capital raising of between 2.1 billion Brazilian real and 2.3 billion real ($430 million) through a common stock offer. Shareholders Bradesco Seguros S.A. ...
Date: July 10, 2020 02:55:29

AM Best to Host Webinar on How Market Dislocation Creates Opportunities for Captives: AM Best will host a complimentary webinar on Wednesday, July 29, 2020, at 1 p.m. (EDT). A panel of AM Best analysts and industry leaders will review market, regulatory and risk issues affecting the captive insurance sector. ...
Date: July 10, 2020 01:29:53

BestWeek: Top US Workers’ Comp Writers Make Moves in 2019, COVID-19 Clouds 2020: Two workers’ compensation writers had the biggest gains in direct premiums written in 2019, each having climbed two places, according to AM Best’s ranking of the top 25 U.S. workers’ comp writers. Liberty Mutual Insurance ...
Date: July 10, 2020 01:03:24

AM Best Withdraws Credit Ratings of Western General Insurance Company: AM Best has downgraded the Financial Strength Rating to B- (Fair) from B (Fair) and the Long-Term Issuer Credit Rating to “bb-” from “bb” of Western General Insurance Company (Western General) (Calabasas, CA). The outlook of ...
Date: July 10, 2020 12:59:41

Lloyd’s Exits Three US Admitted Markets to Focus on Non-Admitted, E&S Lines: In an effort to strengthen its focus on the U.S. reinsurance and excess and surplus insurance market, Lloyd’s said it will give up its admitted licences in the U.S. Virgin Islands, Kentucky and Illinois. The move is part ...
Date: July 10, 2020 11:25:21

RenaissanceRe CEO to Assume Responsibility for the Ventures Business: RenaissanceRe Holdings Ltd. has announced Kevin O’Donnell, chief executive officer, will assume responsibility for the ventures business on an interim basis as Aditya Dutt, senior vice president, ventures, will be leaving ...
Date: July 10, 2020 11:07:07

AM Best Affirms Credit Ratings of Victoria Insurance Company JSC: AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of Victoria Insurance Company JSC (Victoria) (Kazakhstan). The outlook of these Credit Ratings (ratings) ...
Date: July 10, 2020 10:46:07

AM Best Affirms Credit Ratings of SIAT-Società Italiana Assicurazioni e Riassicurazioni p.A.: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of SIAT-Società Italiana Assicurazioni e Riassicurazioni p.A. (SIAT) (Italy), a subsidiary of UnipolSai ...
Date: July 10, 2020 10:44:49

Liberty Specialty Markets Names Chief Underwriting Officer for Commercial: Liberty Specialty Markets, part of Liberty Mutual Insurance Group, has named Melanie O’Neill to succeed Alan Telford as chief underwriting officer, commercial. O’Neill will transition to her new role immediately and ...
Date: July 10, 2020 10:40:57

Atlas Extends Underwriting Agreement With National Interstate; Gets Second Nasdaq Warning: Atlas Financial Holdings Inc. said it extended an underwriting management agreement with National Interstate Insurance Co. Atlas also revealed it received a second delinquency notification letter from the Nasdaq Stock Market ...
Date: July 10, 2020 10:13:24

AM Best Revises Issuer Credit Rating Outlooks to Negative for Members of Erie Insurance Group: AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term ICR of “aa” of the ...
Date: July 10, 2020 08:58:39

AM Best Downgrades Credit Ratings of Kingstone Insurance Company and Kingstone Companies Inc.: AM Best has downgraded the Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” from “a-” of Kingstone Insurance Company (KICO) (Kingston, NY). ...
Date: July 10, 2020 08:39:09

Best’s Market Segment Outlook: AM Best’s Outlook on Germany’s Non-Life Insurance Market Remains Stable: AM Best is maintaining a stable market segment outlook for the German non-life insurance market. Key supporting factors include the expectation that healthy technical profitability will be maintained. In addition, AM Best ...
Date: July 10, 2020 07:45:28

AM Best Affirms Credit Ratings of Enel Insurance N.V.: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Enel Insurance N.V. (EINV) (Netherlands), a captive of Enel SpA (Enel), a multinational electric utility ...
Date: July 10, 2020 07:44:25

AM Best Comments on Credit Ratings of The Allstate Corp’s Insurance Subs After Announced National General Holdings Acquisition: AM Best has commented that the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa” of the members of Allstate Insurance Group (Allstate) and the key life/health ...
Date: July 09, 2020 06:10:07

AM Best Places Credit Ratings of National General Holdings Corp. and Its Subsidiaries Under Review With Positive Implications: AM Best has placed under review with positive implications the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb-” of National General Holdings Corp. (NGHC) (headquartered in New York, NY) [NASDAQ:NGHC], and all of the ...
Date: July 09, 2020 06:09:13

UK Appeal Court Sides With Runoff Reinsurer Equitas in Mesothelioma ‘Spiking’ Case: A U.K. appeal court decision in a long-running mesothelioma case ruled in favor of ending the practice of “spiking” insurance claims ahead of a scheduled hearing before the U.K. Supreme Court. The U.K. Court of Appeal ...
Date: July 09, 2020 04:26:29

AM Best Revises Outlooks to Positive for the Members of BCS Financial Group: AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of the members of BCS Financial Group (BCS). These members ...
Date: July 09, 2020 04:00:07

Missouri Regulators Increase Losses From May 2019 Tornadoes to $190 Million: Insured losses reached nearly $190 million from tornadoes in May 2019, according to the Missouri Department of Commerce and Insurance. Losses exceeded the $139 million the department predicted last year (Best’s News, July ...
Date: July 09, 2020 03:56:08