The negotiations are still in the works, but the fact is that Kemper Insurance Companies has won the right to take control of Superior National Insurance Co. On May 3, the California Department of Insurance (CDI) issued a request for …
The “BBBpi” financial strength rating on Virginia Mutual Insurance Co. was affirmed by S&P. Cited as a key rating factor was the company”s strong capital. This was offset by both its geographical concentration with a gross exposure to catastrophes and …
The financial strength rating on PHICO Insurance Co. was lowered from “BBBpi” to “BBpi” by S&P. The company”s weak operating performance, declining surplus and volatile reserve development were listed as key factors in the rating action.
The counterparty credit and financial strength ratings on Empire Insurance Co., Allcity Insurance Co. and Centurion Insurance Co. were lowered from “BBB+” to “BBB” by S&P. The rating outlook is stable.
S&P affirmed its “BBpi” financial strength rating on Van Nuys-based Surety Co. of the Pacific, reflecting the company”s limited business scope, volatile reserve development, and high geographic and product line concentration. Those rating factors were partially offset by the company”s …
A.M. Best extended its “A++” rating to The Medical Protective Co. (MPCo), the oldest professional liability carrier in the U.S., and a wholly owned subsidiary of Employers Reinsurance Co. (ERC). A key factor in the rating action is the support …
The following “secure” ratings on three affiliated companies of St. Petersburg, Fla.-based Bankers Insurance Group were reaffirmed by A.M. Best: First Community Insurance Co. (“A-“); Bankers Insurance Co. (“B++”) and Bankers Security Insurance Co. (“B++”).
The “AA-” long-term counterparty credit and insurer financial strength ratings on the core operating entities of the Royal & Sun Alliance Insurance Group PLC (RSA) was affirmed by S&P. Concurrently, the “A-1+” foreign currency and commercial paper ratings on the …
The financial strength ratings of the insurance subsidiaries of Medical Assurance Inc. (“A”) and Professionals Group Inc. (“A-“) were placed under review with developing complications by A.M. Best Co. This followed an announcement that a definitive agreement to consolidate the …
The “AA” long-term counterparty credit and insurer financial strength ratings on the insurance operating companies of the AXA Group of France were affirmed by S&P. The rating action includes all ratings on AXA”s U.S. subsidiaries. The outlook on all entities …
