Fitch affirmed the ratings of American International Group Inc. (AIG) and its insurance subsidiaries. The ratings are supported by AIG’s placement as the preeminent U.S.-based global insurance organization with excellent worldwide brands and franchises, strong balance sheet fundamentals and very …
S&P lowered its counterparty credit and insurer FSR for U.K.-based insurer Independent Insurance Co. Ltd. to “BB” from “BBB+.” S&P also revised the Credit Watch implications on Independent to negative, from developing, where they were placed on May 24 of …
Financial Pacific Insurance Group announced that A.M. Best affirmed a rating of “A-” for its principal operating subsidiary Financial Pacific Insurance Company. Financial Pacific Insurance Co. is a Rocklin, Calif.-based property/casualty insurer which focuses on small commercial risks in California, …
The impact on insurers of the Electronic Signatures in Global and National Commerce Act of 2000 (also known as “E-Sign”) was recently discussed at a Capitol Hill hearing. Christopher Roe, vice president and legal counsel for Fireman’s Fund Insurance Company …
Manufacturers Bank announced that it had entered into a referral alliance with AXA Advisors LLC to provide bank customers with a full range of insurance and investment products through Shuster Financial Group LLC. Michael Aarons, senior vice president at Manufacturers …
Kemper Insurance Companies, Aquila Inc. and its wholly owned affiliate Aquila Re Ltd. announced they have joined together to market and underwrite products that protect buyers or sellers of electric power from unexpected spikes in the price of replacement power …
As the Washington state legislature heads into a third special session to settle transportation issues, insurance industry representatives are applauding a recently enacted transportation budget bill that includes funding for red-light cameras pilot projects. Washington Governor Gary Locke signed three …
Frontier Insurance Group Inc. announced that the OTC Bulletin Board (OTCBB) suspended trading of Frontier’s common stock as of June 27. The suspension follows Frontier’s June 15 Form 8-K filing, which announced Frontier was unable to file its quarterly report …
Brown & Brown Inc. signed a letter of intent with Raleigh, Schwarz & Powell Inc. and Golden State Holdings Inc. to acquire the two related agencies. Located respectively in Tacoma, Wash., and San Rafael, Calif., the firms represent approximately $20 …
On June 27, Amwest Insurance Group Inc. announced the resignations of Jeffrey A. Shonka as president and COO, and Phillip E. Huff as executive vice president and CFO of the company. The Calabasas, Calif.-based insurance holding company also stated it …
