Newswires

Golden Tree is a subsidiary of Iris Financial Services Limited and is owned ultimately by Springbrook Capital Ltd., a private holding company with diversified operations in insurance and financial services. The revised outlook to positive from stable of the Long-Term ICR reflects AM Best’ s expectation that Golden Tree will be able to maintain…

AM Best has affirmed the Financial Strength Rating of A, the Long-Term Issuer Credit Rating of“ a” and the Mexico National Scale Rating of“ aaa.MX” of Reaseguradora Patria, S.A.. Patria Re is Mexico’s only locally registered reinsurer, founded in 1953. The company has a strong niche position in Mexico and in other Latin America markets, which allows it to accept…

Progressive Insurance is poised to refund its Florida auto insurance customers nearly $1 billion at the end of 2025 as a result of state regulations that bar auto insurers from earning excess profits from policies, Florida officials reported last week. The increasing profitability of insurers doing business in Florida’ s auto and property insurance…

Instead, so many are bracing for skyrocketing health insurance premiums that may force them to skip coverage altogether next year, "said Congressman Deluzio. "It doesn't have to be this wayCongressional Republicans can come to the table with Democrats to hash out a deal that stops this healthcare crisis. Congressional Republicans have refused to extend ACA…

I've written many times about AARP's lucrative arrangement with UnitedHealth, in which the latter's cash cow AARP- branded Medicare plans divert about 5% of premiums to pay "royalties" to AARP. We estimated these payments totaled around $800 million per year, around triple what AARP collects in membership dues. That already made AARP the $800 million gorilla in…

From a small-business owner in Decorah, to a laid off worker in Des Moines, thousands of Iowans are facing hard choices this fall: pay more for health insurance, drop coverage entirely or gamble on cheaper plans with fewer protections. Insurance Commissioner Doug Ommen urged Iowans to plan early and pay close attention to federal subsidy changes that could…

Annual enrollment assistance will be provided by volunteer and staff of the Shepherd's Center of Greater Winston-Salem, the Forsyth County coordinating site for the North Carolina Seniors' Health Insurance Information Program. Medicare beneficiaries in Forsyth County will be assisted in-person as much as possible or through telephone or other virtual…

Covered California's renewal period begins in just a few days on October 15, and Californians are already receiving notices warning that their monthly premiums will skyrocket if Congress fails to act by the end of the year. For example, a 60- year-old couple in Sacramento County earning $82,800 a year would see their annual health insurance premiumsincrease…

I'm old enough to remember when there was no annual open enrollment. American health care wastes approximately $248 billion annually on excess administrative costs, and open enrollment sits at the heart of this hemorrhage. But here's what actually happened: We created a system in which insurers pay brokers a commission for the employers they sign up- usually a…

—The prolonged government shutdown has disrupted the National Flood Insurance Program, leaving roughly half a million Louisiana policyholders in limbo and complicating property sales, U.S. Sen. The program, administered by the Federal Emergency Management Agency, has stopped writing policies and paused renewals of existing ones, a scenario Louisiana…

These are my views and not necessarily those of my FOMC colleagues. I would have preferred to hold interest rates steady at this weeks FOMC meeting. Congress gave the FOMC a dual mandate: to pursue maximum employment and stable prices.

That’ s especially true in southern Illinois, where certain insurance customers will see some of the highest premium hikes in the country when they start shopping for plans on Nov. 1, when open enrollment begins. Without the subsidies, some families shopping on the Illinois health insurance marketplace will see a sixfold increase in monthly premiums.

The following information was released by the Michigan House of Representatives, the Republicans:. Gretchen Whitmer that she would direct the Michigan Department of Health and Human Services to disburse $4.5 million to the Food Bank Council of Michigan to ensure food banks in all 83 Michigan counties can provide assistance to individuals affected by a…

AM Best has affirmed the Financial Strength Rating of B and the Long-Term Issuer Credit Rating of“ bb+” of Quest Insurance Group Limited. The ratings also factor in the neutral impact from the company’ s ultimate majority shareholder, Federal Pacific Group Limited. Offsetting balance sheet strength factors include the company’ s small absolute capital base of…

AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a” of Eni Insurance S.p.A., a captive of Eni S.p.A., a multinational energy company based in Italy. The outlook of these Credit Ratings is stable. EIS’ prospective performance is expected to be strong, in line with the historical performance of Eni Insurance Designated…

The U.S Federal Reserve cut it interest rate yet again last night, but the 25 basis point move lower was already factored into the EUR/USD. The currency pair reacted with a lack of enthusiasm regarding the Fed’ s FOMC Statement too, this because Fed Chairman Jerome Powell refused to suggest that another interest rate cut will take place in December.

There are a multitude of reasons for this, not the least of which is the fact that the Federal Reserve is expected to cut interest rates at least twice before the end of the year. We have a nice uptrend line that has been a major support level for this market, and now we have a situation where the $6800 level should be support, followed by the $6500 level, although it seems…

Brighthouse Financial, Inc. (NASDAQ: BHF) is one of today’s top gainers. The company’s shares have moved 24.39% on the day to $56.84. Brighthouse Financial, Inc. provides annuity and life insurance products in the United States. It operates through three segments: Annuities, Life, and Run-off. The Annuities segment offers variable, fixed, index-linked, and income annuities for […]

AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating and affirmed the Financial Strength Rating of A and the Long-Term ICR of“ a+” of Erie and Niagara Insurance Association. Concurrently, AM Best has affirmed the FSR of A- and the Long-Term ICR of“ a-” of Cherry Valley Cooperative Insurance Company. Both companies are…