AM Best Removes From Under Review With Negative Implications and Affirms Credit Ratings of Universal Life Insurance Company: AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of Universal Life Insurance Company (San Juan, PR) ...
Date: January 21, 2021 10:02:40

AM Best Affirms Credit Ratings of Insurance Subsidiaries of OneMain Holdings, Inc.: AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of American Health and Life Insurance Company (AHLIC) (Fort Worth, TX) and Triton Insurance Company (Triton) ...
Date: January 21, 2021 09:55:40

AM Best Affirms Credit Ratings of Fidelity Life Assurance Company Limited: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Fidelity Life Assurance Company Limited (Fidelity Life) (New Zealand). The outlook of these Credit ...
Date: January 21, 2021 08:43:07

AM Best Comments on Credit Ratings of Talcott Resolution Life, Inc. and Its Subsidiaries Following Acquisition Announcement: AM Best has commented that the Credit Ratings (ratings) of Talcott Resolution Life, Inc. (Delaware) and its insurance subsidiaries, Talcott Resolution Life Insurance Company (Windsor, CT) and Talcott Resolution Life and ...
Date: January 20, 2021 05:35:12

AkinovA Licensed as Bermuda’s First Insurance Marketplace Provider: AkinovA (Bermuda) Ltd. has been granted a license by the Bermuda Monetary Authority as Bermuda’s first insurance marketplace provider. The new license allows it to facilitate the transfer of insurance and reinsurance ...
Date: January 20, 2021 04:48:40

AM Best Affirms Credit Ratings of Mutual of Omaha Insurance Company and Its Subsidiaries: AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of “aa-” of Mutual of Omaha Insurance Company and its subsidiaries, United of Omaha Life Insurance Company, ...
Date: January 20, 2021 04:47:50

Willis Towers Watson Offers $90 Million to Settle Class Action: The lead plaintiffs in a class-action suit over the 2016 merger of risk management firm Towers Watson & Co. and insurance brokerage Willis Group Holdings are asking a federal judge to approve a preliminary settlement that ...
Date: January 20, 2021 04:39:45

Trump Pardons Sholam Weiss, Ringleader in $400 million Insurance Fraud Scheme: As he left office, Donald Trump issued a flurry of presidential pardons which included clemency for Sholam Weiss, who had served 18 years into an 835-year sentence for what is believed to be one of the largest criminal ...
Date: January 20, 2021 04:16:16

First American Financial Transferring Property/Casualty Book to Safeco and Heritage: First American Financial Corp. said it will exit its property/casualty lines by transferring that business to Safeco Insurance and Heritage Insurance Holdings Inc. It retains its title insurance business and related ...
Date: January 20, 2021 03:47:08

UnitedHealth CFO: Customers Slowly Stopping Deferral of Health Care: UnitedHealth Group Inc.’s fourth-quarter net earnings fell 36% to $2.35 billion as customers slowly stopped deferring health care — particularly in the commercial sector — and the company absorbed rising costs related to the ...
Date: January 20, 2021 03:07:29

IAG Incurs More Than 2,900 Claims From Recent Stormy Weather: Insurance Australia Group Ltd. said it has taken in more than 2,900 claims from a stormy and wet December and start of the year. Claims, incurred between Dec. 26 and Jan. 8, were concentrated in the states of New South ...
Date: January 20, 2021 01:16:00

AM Best Webinar: Interest in Captives Increases in Gulf Cooperation Council Region: Captive insurers are attracting greater interest in the Gulf Cooperation Council region, as regulation develops and counter-party risk concerns increase. Recent market and regulatory changes are showing captives are ...
Date: January 20, 2021 01:02:31

Best’s Market Segment Report: AM Best Maintains Negative Outlook on Brazil’s Reinsurance Industry: AM Best is maintaining its negative market segment outlook on the Brazilian reinsurance industry due to persistent economic uncertainty that has been exacerbated by the COVID-19 pandemic. The Best’s Market Segment Report, ...
Date: January 20, 2021 12:41:04

AM Best to Host Webinar on the State of the Long-Term Care Insurance Market: AM Best will host a complimentary webinar on Wednesday, Jan. 27, 2021, at 11:00 a.m. (EST), which will explore the state of the long-term care insurance market. During the event, AM Best analysts and market experts will ...
Date: January 20, 2021 12:39:53

AM Best Announces NED Appointment to Boards of A.M. Best Europe Rating Services Ltd., and A.M. Best (EU) Rating Services, B.V.: AM Best has appointed Steve Wilson as an independent Non-Executive Director to the Boards of its Europe, Middle East and Africa (EMEA) region subsidiary, A.M. Best Europe Rating Services Ltd. (AMBERS), and its EU-based ...
Date: January 20, 2021 12:21:50

AM Best Announces Appointment of Non-Executive Director to Board of A.M. Best Rating Services, Inc.: AM Best has named Martin P. Sheffield as a new member to its Rating Services subsidiary’s board as an Independent Director. Sheffield joins the board with numerous years of insurance industry experience in the areas of ...
Date: January 20, 2021 12:20:04

Donegal Insurance Group Names Chief Underwriting Officer: The Donegal Insurance Group, which includes Donegal Mutual Insurance Co. and the insurance subsidiaries of Donegal Group Inc., has named Jeffrey T. Hay to succeed Cyril J. Greenya as senior vice president and chief ...
Date: January 20, 2021 11:30:32

Update: Sixth Street Acquires Former Hartford Life Entity Talcott From Consortium: (Corrects headline and first paragraph: Sixth Street is acquiring Talcott from an investment consortium.) Investment firm Sixth Street agreed to acquire Talcott Resolution Life Insurance Co., the entity sold in 2018 by ...
Date: January 20, 2021 11:28:11

UnitedHealth Fourth-Quarter Net Earnings Fall 36%: UnitedHealth Group Inc.’s fourth-quarter net earnings fell to $2.35 billion as customers returned to seek services, and the company absorbed rising costs related to the COVID-19 pandemic, the company said. Last year’s ...
Date: January 20, 2021 10:28:52

Broking Group BGC Rebrands as Corant Global: Broker BGC Insurance said it rebranded as Corant Global Ltd., a holding company for all the insurance interests of BGC Partners Inc., subject to regulatory consent. Corant includes the broking operations Ed, Besso, Piiq ...
Date: January 19, 2021 04:40:30