AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of“ a-” of NongHyup Property and Casualty Insurance Company Limited. The ratings also reflect the implicit and explicit support the company receives from its ultimate parent, National Agricultural Cooperative Federation. NH P&C’ s financial flexibility is…
Reinsurance
AM Best has assigned a Financial Strength Rating of B+ and a Long-Term Issuer Credit Rating of“ bbb-” to Continental General Insurance Company. The company reported approximately $4.6 billion of invested assets at the end of the second quarter of 2024, and roughly $573 million of statutory capital and surplus. CGIC was acquired by new ownership on July 1, 2021,…
KKR& Co. Inc. announced today that Scott C. Nuttall, Co-Chief Executive Officer, will present at the Goldman Sachs 2024 US Financial Services Conference on Tuesday, December 10, 2024 at 8:00AM ET. KKR’ s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. For additional information…
AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Ratings of“ a-” of Bahamas First General Insurance Company Limited and Cayman First Insurance Company Limited, the property/casualty operating subsidiaries of Bahamas First Holdings Limited. However, the company has a high dependence on reinsurance to manage capital…
AM Best is maintaining its market segment outlook for the delegated underwriting authority enterprise segment at positive, citing its sustained growth and niche expertise, despite potential issues that could arise from capacity challenges and rapid growth. According to the Best’ s Market Segment Report,“ Market Segment Outlook: Delegated Underwriting…
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a” of Eni Insurance Designated Activity Company, a captive of Eni S.p.A., a multinational energy company based in Italy. The outlook of these Credit Ratings is stable. The ratings reflect EID’ s balance sheet strength, which AM Best assesses as very strong, as well as its…
New Brunswick, NJ– November 21, 2024– Octaviant Financial, Inc., a recognized innovator in drug warranty and payment models, announced today that Starr Insurance will join Octaviant and Marsh, the world’ s leading insurance broker and risk advisor, in offering drug warranty services that enable pharmaceutical companies to stand behind the effectiveness of…
Reinsurance Group of America, Incorporated, a leading global life and health reinsurer, and John Hancock, a subsidiary of Manulife Financial Corporation, a leading international financial services group, announced today an agreement to reinsure approximately US $4.1 billion in liabilities comprising $1.9 billion in long-term care and $2.2 billion in…
Cyber incidents, changes in climate, and business interruption are the chief risk concerns among key marketplace segments in the insurance industry, a new survey from Munich Reinsurance America Inc. and the Insurance Information Institute reveals. “Understanding risk concerns of our customers is invaluable,” said Kerri Hamm, EVP– head of cyber underwriting,…
Managing general agents and MGA platforms are setting the pace for growth in specialty insurance markets worldwide, attracting global talent, technology and capital, a new study from Lexicon Associates finds. “MGAs are expanding coverage options for the most challenging risks, including natural perils exacerbated by climate change and cyber risks,” said Mr….
IGI is an international specialist insurance group with deep technical. Data as September 30, 2024. IGI established by insurance industry.
AM Best has maintained its market segment outlook for the global reinsurance segment at positive, citing robust underwriting returns and the potential for solid full-year 2024 results despite an active Atlantic hurricane season. However, concerns remain about adverse development in the U.S. casualty segment, with many reinsurers re-evaluating their…
AM Best has upgraded the Financial Strength Rating to A from A- and the Long-Term Issuer Credit Rating to“ a” from“ a-” of Indemnity National Insurance Company. In addition, AM Best has revised the Credit Rating outlooks to stable from positive. These ratings reflect INIC’ s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating…
AM Best’ s estimate for ultimate net asbestos losses is being maintained at $100 billion, with environmental losses also holding steady for another year at $46 billion, as of year-end 2023 data, according to a newly issued report. According to the report, industry funding of the estimated $146 billion net A&E exposures is approximately $140 billion, comprising…
One80 Intermediaries, a specialty insurance broker headquartered in Boston, today announced that it has acquired Waypoint Underwriting Management, LLC. “Waypoint maintains an extremely broad product offering and best in class underwriting teams which complement One80’ s market leading solutions,” said Matthew F. Power, President, One80 Intermediaries.“…
Andrew J. Hoffman, University of Michigan. Home insurance rates are rising in the United States, not only in Florida, which saw tens of billions of dollars in losses from hurricanes Helene and Milton but across the country. Despite these rising rates, Jacques de Vaucleroy, chairman of the board of reinsurance giant Swiss Re, believes U.S. insurance is still priced…
Home insurance rates are rising in the United States, not only in Florida, which saw tens of billions of dollars in losses from hurricanes Helene and Milton, but across the country. When home insurance averages $2,377 a year nationally, and $11,000 per year in Florida, this is a blow to many people. Despite these rising rates, Jacques de Vaucleroy, chairman of the…
AM Best has assigned a Financial Strength Rating of A- and Long-Term Issuer Credit Rating of“ a-” to Standard and Preferred Insurance Company. Standard and Preferred was incorporated under New York state law in 2012. The company’ s business is focused on small- to medium-size entities that are in the nursing home and healthcare industry and writes workers’…
IGI is an international specialty risks commercial insurer and reinsurer underwriting a diverse portfolio of specialty lines. Established in 2001, IGI has a worldwide portfolio of energy, property, general aviation, construction& engineering, ports& terminals, marine cargo, marine trades, contingency, political violence, financial institutions, general…
