National General News

QBE North America Sells National Farmers Union to National General

National General Holdings Corp. has agreed to acquire National Farmers Union Property and Casualty Co. from QBE North America. The estimated purchase price is $43 million. National Farmers Union Insurance writes personal and farm auto and farm and homeowners’ insurance …

Wells Fargo’s Latest Scandal: Selling Customers Auto Insurance They Didn’t Need

Fraudulent bank accounts, bogus credit cards, compromised customer data and, now, unwanted car insurance. Wells Fargo & Co., it seems, just can’t stay out of trouble. News late last week that the lender may have charged more than 500,000 people …

10 Arrested in North Carolina Staged Auto Accident Ring

Nine residents in Pitt County, North Carolina, were arrested in connection with an alleged staged auto accident ring, according to a statement from the North Carolina Department of Insurance (NCDOI). Investigators allege the accused staged seven separate vehicle crashes between …

QBE Selling Lender-Placed Insurance Business for $90M

QBE Insurance Group Ltd., Australia’s second-largest insurer by market value, agreed to sell its North American mortgage and lender services business to National General Holdings Corp. for $90 million. The transaction will result in a pretax loss of about $120 …

Ratings Roundup: of Boubyan Takaful, National General

A.M. Best Europe – Rating Services Limited has revised the outlook to stable from positive and affirmed the financial strength rating of ‘C++’ (Marginal) and the issuer credit rating of “b” of Boubyan Takaful Insurance Company KSC (CLOSED), which is …

Ratings Recap: National General, Univé Her/Stormher, Radius

A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘B++’ (Good) and the issuer credit rating of “bbb+” of the United Arab Emirates National General Insurance Company (P.S.C.) (NGI), both with stable outlooks. Best noted …

Ratings: Tunis Re, Endurance (shares), LAPP, Electro Re/First Beacon, National General

A.M. Best Europe – Rating Services Limited has removed from under review with negative implications and affirmed the financial strength rating of ‘B+’ (Good) and issuer credit rating of “bbb-” of Société Tunisienne de Reassurance (Tunis Re), and has assigned …