MEMIC News

Ratings Recap: Balboa, MEMIC, ALAS, Modern Woodmen, Seven Seas

A.M. Best announced that it has revised the outlook to negative from stable and affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit ratings of “a” of Balboa Insurance Company, based in Irvine, Calif. and its wholly …

MEMIC Promotes Klatt to Loss Control Services Manager in Maine

Portland, Maine-based workers’ compensation carrier MEMIC has announced the appointment of Randy Klatt to the position of manager, loss control services.In his new role, Klatt will be responsible for supervising a team of Maine-based safety management specialists and professionals who …

MEMIC to Issue $16M in Dividends to Maine Policyholders

Workers’ compensation insurer The MEMIC Group announced this week that policyholders of its Maine-based company, Maine Employers’ Mutual Insurance Company (MEMIC), will receive dividend checks totaling more than $16 million this November, a record amount for the company. The announcement …

Maine-based Workers’ Comp Insurer MEMIC Announces Acquisition

Workers’ compensation insurer The MEMIC Group acquired a Vermont-based insurer. The insurer also said it plans to expand its operations in Pennsylvania and New Jersey in 2012. MEMIC purchased Granite Manufacturers Mutual Insurance Company in Vermont and will rename it …