Standard & Poor’s Ratings Services announced from its Melbourne office that it has placed its “A+” insurer financial strength rating on Hong Kong-based general insurer QBE Hongkong & Shanghai Insurance Ltd. on CreditWatch with negative implications. S&P said it had …
The U.K.’s Kiln plc, which owns and operates Lloyd’s managing agent R J Kiln & Company, announced the appointment of Andrew Hitchcox to the newly created post of chief actuary and risk officer. He joins Kiln from a similar position …
Bermuda-based property reinsurer PXRE Group Ltd. announced that its net income before convertible preferred share dividends was $41.6 million for the first quarter of 2006, compared to $22.7 million in the first quarter of 2005. The positive result, however, doesn’t …
A.M. Best Co. announced that it has assigned a rating of “a-” to ACE INA Holdings, Inc.’s $300 million 30-year 6.7 percent senior unsecured notes. The notes are guaranteed by ACE INA Holdings’ ultimate parent, Bermuda-based ACE Limited and are …
A.M. Best Co. announced that it has assigned a financial strength rating (FSR) of “A-” (Excellent) and an issuer credit rating of “a-” to Bermuda-based CastlePoint Reinsurance Company Ltd. with a stable outlook. “The ratings reflect CastlePoint Re’s strong risk-adjusted …
Daryll W Martin has been named executive vice president and director of strategic operations for Regions Insurance Group, a Memphis, Tenn. Wholly-owned subsidiary of Regions Financial Corp. in Birmingham, Ala. “Martin comes to us with a wealth of industry experience …
Brown & Brown Inc.’s board of directors has declared a regular quarterly cash dividend of $.05 per share. The dividend is payable on May 25, 2006, to shareholders of record on May 11, 2006. Source: Brown & Brown Inc.
The president of North Dakota’s largest health insurance provider will be allowed to keep his job under certain conditions, after pleading guilty to drunken driving, the insurer’s board chairman says. Michael Unhjem, president of Blue Cross Blue Shield of North …
Acordia Inc. has acquired the assets of Key Insurance Agency LLC in Wasilla and Anchorage, Alaska. This is the Acordia’s 17th acquisition in 11 states the past three years — the second in Alaska. The acquisition closed May 1, 2006. …
Richmond, Va.-based Hilb Rogal & Hobbs Company has purchased a book of accounts from Benchmark Insurance Company, a major underwriter of retail grocers, effective as of May 1, 2006. Terms of the transaction were not disclosed. With a revenue base …
