A.M. Best assigned an initial financial strength rating of “A-” (excellent) to Louisiana United Businesses Self Insurers Fund, also known as LUBA Workers’ Comp based in Baton Rouge, La. The outlook is stable. Best said the rating reflects LUBA Workers’ …
Houston-based HCC Insurance Holdings Inc. reported that earnings for the third quarter and first nine months of 2003 increased by 58 percent and 39 percent respectively. Net earnings for the third quarter of 2003 rose to $38.4 million or $0.59 …
Professional Insurance Agents of New York State Inc. President, T.J. Derella, CPIA, and president of Kingstar Co. of Kingston, N.Y. is scheduled to testify today on the need for the New York Property Insurance Underwriting Association (NYPIAU) to institute commercial …
A.M. Best Co. announced that it has affirmed the financial strength ratings of B++ (Very Good) of Palisades Group of Berkeley Heights, N.J. and has removed it from under review. Best also announced that it has assigned initial financial strength …
PMA Capital announced a net loss of $96.4 million, or $3.08 per diluted share, for the third quarter of 2003, compared with net income of $9.4 million, or 30 cents per diluted share, for the third quarter of 2002. For …
An article on the IJ Web site of Oct. 29, “Europe’s Banks and Insurers Appeal for Regulatory Harmonization,” referred to the “Lamfalussy approach,” but left it undefined. Thanks to Peter Casey, a very alert and informed reader, we can now …
A.M. Best Co. announced that it has affirmed the financial strength rating of A- (Excellent) of Korean Reinsurance Company (KRIC) with a stable outlook. “The rating reflects the company’s significant improvement in operating performance, continuous growth in capital and dominant …
A.M. Best Co. announced that it has affirmed the financial strength rating of A+ (Superior) of South Korea’s Samsung Fire & Marine Insurance Company Limited (SFMI) with a stable outlook. “The rating reflects the company’s superior risk-adjusted capitalization, dominant market …
France’s SCOR Group, the world’s seventh largest reinsurer, announced a nine-month loss of 349 million euros ($400 million), prompting both A.M. Best and Moody’s to place their ratings on the company and its subsidiaries under review. Best said it had …
Los Angeles-based E.L.M. Insurance Brokers Inc., has added two new programs. One is looking to write attorneys involved in entertainment, the Securities and Exchange Commission, intellectual property and real estate syndicates. A second market will entertain California’s hard-to-place attorneys. Plaintiff …
