A.M. Best Co. announced that it has affirmed the financial strength rating of “B++” (Very Good) and the issuer credit rating (ICR) of “bbb” of The Egyptian Reinsurance Company with a stable outlook. “The ratings reflect Egypt Re’s solid risk-adjusted …
A.M. Best Co. announced that it has assigned a rating of “a+” to the €1 billion ($1.2789 billion) perpetual step up-notes “issued by ELM B.V., a bankruptcy remote repackaging vehicle based in the Netherlands, and are secured over perpetual subordinated …
Despite slightly higher claims costs of €274 million ($350 million) Munich Re’s first quarter net profits rose 41.7 percent to €979 million ($1.25 billion) after tax. Operating profits were up by 29.4 percent to €1.47 billion ($1.88 billion). The earnings …
Standard & Poor’s Ratings Services announced that it has assigned its ‘BBB+’ senior debt rating to ACE INA Holdings Inc.’s $300 million senior debt issuance, which is due 2036 and is fully and is unconditionally guaranteed by ACE Ltd. (See …
Americans looking to save money on medical procedures are increasingly traveling overseas for surgeries not covered by their insurance to avoid costly hospital stays in the United States. The trend is being driven by rising health care costs and frustrated …
NAS Insurance Services Inc., Encino, Calif., has a new floater coverage program as part of its E&S property facility. The program (Equipment Floater – Fine Arts – Transit) features a $100,000 sublimit, minimum premium of $100 and a minimum deductible …
California Insurance Commissioner John Garamendi has asked the Federal Bureau of Investigation, U.S. Attorney’s Office, and the Attorney General of California to investigate the insurance industry’s latest attempt to derail the implementation of new auto insurance regulations that would create …
The Colorado General Assembly adjourned its concluding a session, which the Property Casualty Insurers Association of America (PCI) said was marked by the defeat of a wide variety of legislation that would have forced consumers to pay higher insurance premiums …
Scottsdale Insurance Co., an excess and surplus insurer, has named Lindsey McCutchan as legal vice president. McCutchan joins Scottsdale from its parent company, Nationwide, where he has been since 1998. Most recently, he has been responsible for legal support to …
After being responsible for the Mexican Insurance operation for Marsh – Brockman y Schuh in the United States, Roberto Castellanos has joined MexiPass Global Assurance as senior vice president in charge of sales & marketing. Castellanos will be coordinating the …
