A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit rating of “aa-” of Guam-based Tokio Marine Pacific Insurance Limited (TMPI), both with stable outlooks. The ratings reflect TMPI’s “consistent growth in surplus and dominant …
Bond insurer ACA Financial Guaranty Corp. sued Goldman Sachs Group Inc. on Thursday, alleging it was deceived into insuring a transaction designed to fail and for which Goldman ultimately paid a $550 million civil penalty. Goldman Sachs paid the settlement …
Maine has licensed two new workers’ comp insurers, one of them a new company that will begin writing this month, the state insurance department said. The first, Great Falls, which will begin offering policies this month, will be headquartered in …
The American Insurance Association (AIA) has announced that Marjorie Berte has joined the association as its new vice president for the Western Region. Berte’s career includes experience in both the public and private sectors, most recently with the state of …
Swiss Re has obtained another $170 million in protection through the Successor X Ltd. catastrophe bond program, covering Australia earthquake, North Atlantic hurricane and California earthquake risks. “The combination of Australia earthquake risk with US peak natural catastrophe risks is …
Doug Dukes has been named state vice president of Tennessee for Keystone Insurers Group. Dukes will manage Keystone’s expansion into Tennessee, slated to occur this month. Dukes most recently served as field and marketing representative for The Cincinnati Insurance Companies. …
A.M. Best Co. has affirmed the financial strength rating of ‘B+’ (Good) and issuer credit rating of “bbb-” of Century Insurance Company (Guam) Ltd. (CIC Guam)and Century Insurance Co., Ltd. (CIC Saipan), headquartered in the Northern Mariana Islands. The outlook …
Florida’s workers’ compensation market remains competitive with more than 250 private insurers writing coverage and only a fraction of business being funneled to the residual market. Also, availability does not appear to be a major concern in the aggregate, although …
MAPFRE GLOBAL RISKS is the leading insurer for the Spanish satellite of the communications operator HISPASAT, H1E, which was launched on the 29th of December from the Kourou base in French Guiana. MAPFRE GLOBAL RISKS said it had “insured both …
Soft market conditions with unabated price competition and a slow economy with reduced payrolls continued to affect commercial liens including the the workers’ compensation industry in 2010, as they did in 2009. Robert Hartwig, president of the Insurance Information Institute, …
