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AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a” of CCR RE. The company’ s majority shareholder, Société Mutuelle d’Assurance du Bâtiment et des Travaux Publics, together with minority shareholder Mutuelle d’ Assurance du Corps de Santé Français, contributed an additional EUR 200 million to CCR RE’ s…

OWIT Global, the leader in cloud-based insurance-specific microservices architected solutions to digitalize the global insurance industry, is pleased to announce that Ascot Insurance has signed on with OWIT’ s Insurance Data Management solution to onboard and process all program bordereaux. “Ascot’ s intent to automate their data ingestion and…

The Hartford appointed Michael Fish head of Group Benefits succeeding Jonathan Bennett, who will retire at the end of 2024 after 25 years with the company. Bassett, who is currently deputy global chief underwriting officer and head of Navigators Reinsurance, a brand of The Hartford, will report to The Hartford’ s Chief Financial Officer Beth Costello.

REDWOOD CITY, CA, July 9, 2024- Principal Financial Group ® and Reinsurance Group of America, Incorporated have partnered with Zoë Foundry, investing a combined $5 million as their lead investors. Zoë Foundry is the first venture studio solely focused on the employee benefits ecosystem. In collaboration with a co-founder, CEO or CTO, Zoë Foundry uses a…

Miguel Canals, senior vice president, cyber treaty underwriter, Munich Re; Chris Mee, managing director, Aon; and Alex Tenenbaum, director of services, CyberCube, will join Christopher Graham, senior industry analyst, AM Best, on the panel. Sridhar Manyem, senior director, Industry Research and Analytics, AM Best, will moderate. Headquartered in the United States, the…

Coverys, a leading provider of medical professional liability insurance and healthcare risk mitigation services, announces that Coverys Limited has received Prudential Regulatory Authority and Financial Conduct Authority approval to commence underwriting, effective June 26, 2024. Coverys Limited has also been approved for admittance to the…

A Venture Studio Building& Backing Companies in the Employee Benefits Space. Zoë Foundry Secures a $5 Million Investment led by Principal Financial Group ®& Reinsurance Group of America to Innovate in the Employee Benefits Space. REDWOOD CITY, CA, USA, July 9, 2024/ EINPresswire.com/– Principal Financial Group ® and Reinsurance Group of America, Incorporated…

Agency: " Employee Benefits Security Administration, Department of Labor." SUMMARY: This document provides notice of the pendency before the Department of Labor of a proposed individual exemption from certain of the prohibited transaction restrictions of the Employee Retirement Income Security Act of 1974 and/or the Internal Revenue Code of 1986 for the…

Assured Guaranty Ltd. announced today that Assured Guaranty Municipal Corp. will merge into Assured Guaranty Inc., which was named Assured Guaranty Corp. until May 24, 2024. “We see this merger as beneficial for all our stakeholders,” said Dominic Frederico, President and CEO.“ It will result in more efficient utilization of the combined capital of the two…

Markel Canada, a division of London- based casualty insurer, Markel International, and a subsidiary of Markel Group, is excited to announce the official launch of Markel Play, a comprehensive insurance product tailored for the sports, fitness, and recreation sectors. To complete its robust insurance offering, Markel Canada has partnered with Sport Law and the…

“A class of startup reinsurers usually quickly forms to capitalize on the interruption in the reinsurance demand-supply equilibrium,” said Dan Hofmeister, associate director, AM Best.“ Many of these new reinsurer formations merge or are acquired as the market cycle returns to the soft phase of the cycle.”. In addition to Sept. 11, hurricanes Andrew, Ike and Katrina,…

On June 30, 2024, NI Holdings, Inc. completed the previously announced transaction with Scott Insurance Holdings, LLC, to sell its subsidiary, Westminster American Insurance Company, to Scott Insurance Holdings, for a cash purchase price of $10.5 million pursuant to the Stock Purchase Agreement, dated May 7, 2024, by and between the Company and Scott Insurance…

AM Best has assigned a Financial Strength Rating of B and a Long-Term Issuer Credit Rating of“ bb+” to Reaseguradora Santo Domingo, S.A.. REASANTO is a reinsurance company founded in 1973 in Santo Domingo, Dominican Republic, where it is currently located. The company focuses its product offerings in the fire and allied business lines in the Dominican Republic.

For the last 17 years, Janet Rupert has lived with her husband in a rustic, 1991 cedar-sided home tucked in the woods on Chapel Hill’ s outskirts. In seven years, their premiums with Pennsylvania- based Erie Insurance jumped by almost 60%— from $1,722 in 2018 to $2,756 in 2024. The Ruperts reflect a growing reality for homeowners across North Carolina.

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B and the Long-Term Issuer Credit Rating of“ bb+” of JSC Insurance Company Aldagi Group. The Credit Ratings reflect Aldagi’ s balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, limited business profile and…

Old Glory Bank, the pro-America online community bank, announces Old Glory Protect, a $100,000 line-of-duty death benefit for our Protectors who pay the ultimate sacrifice. To be eligible, Old Glory Protectors must have an account at Old Glory Bank and maintain an aggregate monthly direct deposit of at least $2,000. “At Old Glory Bank, we protect those who protect…