Commercial insurance buyers say the skyrocketing increases in costs of many insurance policies showed signs of stabilizing in the third quarter, according to the RIMS Benchmark Survey, an industry survey of market conditions released this week. Property insurance, fiduciary liability …
Jacobson Executive Search is expanding its team to better serve the insurance, healthcare and financial services industries in the southern region of the United States. The specialty search firm has named W. Barry Prather, vice president – executive search consultant …
New Jersey-based Selective Insurance Group, Inc. reported net income of $14.7 million, or $0.53 per diluted share, for the third quarter ended Sept. 30, 2003, up from $11.1 million, or $0.41 per diluted share for the same period last year. …
A.M. Best Co. has downgraded the financial strength ratings of PMA Insurance Group (Blue Bell, Pa.) and PMA Capital Insurance Company (Philadelphia) to B++ (Very Good) from A- (Excellent). Concurrently, A.M. Best has downgraded the senior debt rating of PMA …
Standard & Poor’s Rating Services reported that it revised its outlook on Marsh & McLennan Cos. (MMC) to negative from stable and affirmed its ‘AA-/A-1+’ counterparty credit rating on the company. “The revised outlook reflects Standard & Poor’s concern that …
The Alliance of American Insurers this week urged the National Association of Insurance Commissioners (NAIC) to show they are serious about modernizing state regulation by reducing the monies they are collecting from insurers and returning some of those fees to …
CATEX announced that MGU Savannah Reinsurance Underwriting Management, LLC, a member of the Georgia-based Palmer & Cay group of companies, has agreed to license a CATEX web-based Reinsurance Transaction System based on the CATEX proprietary Pivot Point Technology. Pivot Point …
Toronto-based Rent Shield Corp, a provider of pass-through risk specialty insurance and reinsurance products, announced that it has received a Binding Agreement from Tysers International Insurance and Reinsurance Brokers confirming completion of a $U.S.120 million underwriting placement with Lloyd’s. The …
Bermuda’s Max Re Capital Ltd. reported net income for the three months ended September 30, 2003 of $38.8 million, or $0.89 per diluted share, compared to a net loss of $14.3 million, or $0.37 per diluted share, for the third …
A.M. Best Co. announced that it has withdrawn its Syndicate Rating of A- (Excellent) of Lloyd’s Syndicate 102 and assigned it an NR-3 rating (Rating Procedure Inapplicable). “The rating withdrawal follows the decision by Goshawk Insurance Holdings Plc to place …
