While publicity about personal auto insurer initiatives has focused chiefly on requested rate increases, there’s more to the picture regarding auto insurers’ efforts to improve underwriting results after two calendar years of record underwriting losses. Improving the overall quality of …
Sentry Insurance said it is buying nonstandard auto insurer The General from American Family Insurance for about $1.7 billion to mark the largest acquisition in the company’s 120-year history. Sentry will pay $1.1 billion in cash and assume liabilities and …
A Travis County, Texas, judge has approved an order placing a Houston-based nonstandard auto insurer into receivership. On Oct. 21, Travis County District Judge Tim Sulak signed the application by the Texas Department of Insurance to appoint a rehabilitator and …
Kemper Corp. reported net income of $92.2 million for the third quarter of 2018, compared to $47.7 million for the third quarter of 2017. As adjusted for the acquisition in the quarter of nonstandard auto insurer Infinity, net income was …
Adios Mordy Rothberg. One of the men behind Confie Seguros, a nonstandard auto insurance giant with an emphasis on serving Hispanic consumers that has been on an agency buying spree since it started in 2008, is calling it quits. Rothberg, …
National General Holdings Corp. has entered into a renewal rights transaction with Nationwide Mutual Insurance Co. for its personal and commercial non-standard vehicle in-force policies. National General will partner with Nationwide’s exclusive and independent agent force to sell its policies …
A.M. Best has downgraded the financial strength rating to B+ (Good) from B++ (Good) and the issuer credit rating to “bbb-” from “bbb” of San Antonio-based National Unity Insurance Co. (National Unity). The outlook for both ratings is negative. National …
The nonstandard auto market is not for every carrier or agency. Since 2007, carriers writing nonstandard auto policies have reported deteriorating operating performance and many have struggled to maintain market share. But while some have been hurt by or lost …
Imperial Management Corp. (IMC) announced an agreement to purchase National Automotive Insurance Co. (NAIC) headquartered in Metairie, La. The transaction is pending approval of the Louisiana Department of Insurance and is expected to close the first week of November 2013. …
