A.M. Best Co. has downgraded the issuer credit rating (ICR) to “a” from “a+” and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) of National Lloyds Insurance Company as well as the FSR of ‘A’ (Excellent) and ICR of …
Wal-Mart Stores Inc., the world’s largest retailer, is making its biggest push yet to try to improve conditions at factories that produce its clothing after a fire at a Bangladesh factory last year killed 112 people. The company also said …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of the U.S. life/health subsidiaries of the Netherlands Aegon N.V. Aegon’s U.S. life/health companies are collectively referred to as Aegon …
Willis has started a new practice group called Willis Open to help public entities and corporate businesses build alliances with minority-owned business enterprises (MBE) and women-owned business enterprises (WBE). The company said that Kimberly Waller and Phillip Styles have come …
American International Group, Inc. (AIG) has appointed Castor Aerospace LLC as its new program administrator for space-related risks. This appointment provides a new distribution channel for satellite operators, manufacturers, launch service providers, owners, end-users & financiers that require access to …
Citigroup has filed a claim with Nasdaq OMX Group to potentially receive compensation for losses associated with Facebook Inc.’s glitch-ridden market debut last May, according to two people with knowledge of the situation. Citi filed the claim on Monday, which …
Ambac Financial Group Inc. on Monday said it has reached a $101.9 million settlement of a dispute with the Internal Revenue Service, a key step in the bond insurer’s effort to emerge from bankruptcy. The settlement calls for $1.9 million …
A reworking of a key piece of the workers’ compensation rating formula isn’t changing rates overall but is changing premiums for most insureds, according to experts. Tony DiDonato, director and senior actuary at the National Council on Compensation Insurance, the …
Insurer American International Group Inc. has asked a court to block Maurice “Hank” Greenberg’s efforts to sue the U.S. government on AIG’s behalf, saying its former CEO has not proven he should have the right to do so. Earlier this …
InsurBanc — a federal savings bank founded by the Independent Insurance Agents & Brokers of America and W.R. Berkley Corp. a dozen years ago — has joined Connecticut Community Bank N.A., based in Westport, Conn., effective April 1. Under the …
