Effective January 1, 2020, in addition to leading AXA XL Reinsurance's International region, John Welch, currently Chief Executive of AXA XL Reinsurance's North America region, will become Chief Executive, Domestic Markets and will have overall responsibility for that business. Mr. Welch, who has more than 30 years of industry experience, has held…
–DiamondRock Hospitality Company announced today that it has reached a definitive settlement of its outstanding insurance claim related to Hurricane Irma, which significantly impacted the Havana Cabana Key West and the Frenchman's Reef resort in St. Thomas in September 2017. The reimagined, world-class resorts– Frenchman's Reef Marriott Resort& Spa and…
AM Best has assigned a Financial Strength Rating of A and Long-Term Issuer Credit Ratings of“ a” to Athene Co-Invest Reinsurance Affiliate International Ltd. and Athene Life Re International Ltd.. The entities are being added as members of the Athene Group and are subsidiaries of Athene Holding Ltd., the publicly traded ultimate parent.
Dec. 19– FORT WORTH– A Euless contractor was sentenced on Wednesday to 15 years in prison for bilking Tarrant County homeowners, many of them elderly couples, out of $1.4 million. In one instance, an elderly Tarrant County resident hired the contractor to make handicapped modifications to a downstairs room in her home for her ailing husband who could not longer…
AM Best has affirmed the Financial Strength Rating of C++, the Long-Term Issuer Credit Rating of“ b+” and the Mexico National Scale Rating of“ bbb.MX” of Aseguradora Patrimonial Vida, S.A. de C.V.. The outlook of these Credit Ratings remains stable. Patrimonial Vida initiated operations in Mexico City in 2014, providing short-term life insurance coverage for the…
U.S. long-term mortgage rates were unchanged this week, staying near historically low levels. Mortgage buyer Freddie Mac says the average rate for a 30- year fixed-rate mortgage held at 3.73% for the second straight week. But interest rates have tumbled over the past 12 months.
Virginia Foxx, R- North Carolina, issued the following statement, which was published in the Congressional Record on Dec. 18, entitled “National Law Enforcement Museum Commemorative Coin Act”:. There is bipartisan consensus that Congress must address the current multiemployer pension crisis, but this particular provision is a fiscally irresponsible and…
We may complain about the taxes or the cost of living here in Connecticut, but the Hartford area actually is one of the top five best-paying cities for millennials in the country, according to a new report. The Hartford metro area– composed of Hartford, West Hartford and East Hartford, in the report– is ranked No. 4 among large cities. The three large U.S. metro areas that…
A federal Appeals Court on Wednesday struck down the individual health insurance mandate as unconstitutional, a ruling that could ultimately jeopardize up to $2.4 billion a year in federal funding for Massachusetts, and health insurance for up to 375,000 residents, according to a new report released by the Blue Cross Blue Shield of Massachusetts…
Ervin Cohen& Jessup announced today that Mayer Nazarian has joined the firm’ s Business, Corporate and Tax practice. Nazarian joins Ervin Cohen& Jessup from CKR where he was a partner and chair of the Tax Department in the Los Angeles office. Nazarian began his career as a tax professional with the accounting firm of Holthouse, Carlin and Van Trigt, LLP and went on to…
The former New York mayor and Democratic presidential candidate embraced a new government-run“ public option “to compete with private insurance and called for Medicare to negotiate drug prices, using an approach similar to House Speaker Nancy Pelosi's recent legislation. “It's in the Biden-Buttigieg world rather than Sanders-Warren,” said John Holahan, a…
AM Best has affirmed the Financial Strength Rating of B and the Long-Term Issuer Credit Rating of“ bb” of Ghana Reinsurance Company Limited. Prospective capital requirements will be driven by the company’ s strong growth outlook and by investment risk due to the concentration of assets in Ghana. The combined ratio over the five-year period to December 2018 was…
AM Best has commented that the Long-Term Issuer Credit Rating of“ bbb” and the Long- and Short-Term Issue Ratings of Cigna Corporation remain unchanged following Cigna’ s recent announcement that it has signed a definitive agreement to sell its group life and disability insurance business to New York Life Insurance Company. Additionally, the Financial…
Autocarsinsurancetips.com has released a new blog that explains how to get cheap car insurance coverage, just by following a few simple tips. For more info and free quotes, visit https://autocarsinsurancetips.com/5-tips-for-buying-inexpensive-car-insurance/. Getting affordable car insurance is not that complicated.
AM Best has placed under review with positive implications the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a” of Life Insurance Company of North America and Cigna Life Insurance Company of New York. The rating actions follow the recent announcement by Cigna Corporation that it has signed a definitive agreement to sell its group…
AM Best has affirmed the Financial Strength Rating of B and the Long-Term Issuer Credit Rating of“ bb+” of Kenya Reinsurance Corporation Limited. The outlook of these Credit Ratings is stable. The ratings reflect Kenya Re’ s balance sheet strength, which AM Best categorises as very strong, as well as its adequate operating performance, neutral business profile and…
–Natera, Inc., a global leader in cell-free DNA testing, today announced that Medicare has finalized its local coverage determination to provide insurance coverage for the Prospera donor-derived cell-free DNA test, for all kidney transplant recipients, including those with multiple kidney transplants, an expansion in coverage from the initial draft.
AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of“ a-” of Nova Casiopea Re S.A.. NCRe is a pure captive reinsurer of Telefonica, S.A., a Spanish multinational broadband and telecommunications provider with operations in Europe, and North, Central and South America. NCRe began operations in 2017, replacing Casiopea Re…
XenoTherapeutics, Inc. a clinical-stage biotechnology company focused on immunogenomic reprogramming of swine organs and tissues for human use, announced their readiness to supply victims of New Zealand’ s White Island volcano tragedy with Xeno-Skin™, a live-cell product derived from genetically-engineered swine and cleared by the FDA for…
