STAMFORD, Conn.& CARMEL, Ind.—- Hildene Capital Management, LLC, an $18+ billion credit-focused alternative asset manager, today announced it has signed a definitive agreement to acquire SILAC, Inc., the parent company of SILAC Insurance Company, a leading provider of fixed and fixed indexed annuity products in the U.S. SILAC is headquartered in Carmel, IN and has…
Reinsurance
Jefferies Financial Group Inc. announced today it is acquiring a 50% interest in Hildene Holding Company, LLC, the parent of Hildene Capital Management, LLC and its affiliates, a credit-focused asset manager with over $18 billion of assets under management for a broad range of clients in hedge fund, separately managed account, drawdown, securitization and…
Berkshire Hathaway Inc. today announced the following leadership appointments across its non-insurance and insurance operations, as well as in corporate:. Adam M. Johnson, CEO of NetJets, has been appointed President of the Consumer Products, Service and Retailing businesses of Berkshire Hathaway, effective immediately, while continuing in his role at…
Florida is a high-risk insurance state when it comes to hurricanes. In 1993, the Florida legislature created the Florida Hurricane Catastrophe Fund to serve as an additional source of reinsurance capacity for Florida insurers. Florida also has a state-run insurer, Citizens Property Insurance Corporation, which is the insurer of last resort for…
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of“ bbb+” of Aseguradora Agricola Comercial, S.A.. The outlook of these Credit Ratings is stable. ACSA was founded in 1973 and is a leading insurance company in El Salvador.
The December issue of Best’ s Review presents coverage of the top auditors and actuaries, as well as industry trends:. “Top Audit and Actuarial Firms” presents exclusive rankings of independent accountants and third-party actuaries.“ New Actuarial Guideline To Affect Offshoring Life Reinsurance Disclosure” explores how auditors and actuaries are preparing…
The ratings also reflect a rating drag due to the company’ s association with its parent, Petroleos Mexicanos. Ikal is the captive reinsurer of PEMEX, Mexico’ s state-owned oil and gas company. A partially offsetting balance sheet strength factor is the captive’ s dependence on retrocession coverage, driven by the large policy limits it offers to PEMEX.
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of“ a-” of Kansas City Life Insurance Company. At the same time, AM Best downgraded the FSR to B+ from B++ and the Long-Term ICR to“ bbb-” from“ bbb” of Grange Life Insurance Company. Concurrently, AM Best has revised the outlook to…
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of“ aa-” of the pooled members of Selective Insurance Group. Additionally, AM Best has affirmed the Long-Term ICR of“ a-” and the Long-Term Issue Credit Ratings of the ultimate parent, Selective Insurance Group, Inc.. In addition, AM Best has assigned a Long-Term IR of“ a-” to…
AM Best has affirmed the Financial Strength Rating of B++, the Long-Term Issuer Credit Rating of“ bbb” and the Vietnam National Scale Rating of aaa.VN of Bao Minh Insurance Corporation. The outlook of these Credit Ratings is stable. The ratings also factor in the neutral impact from BMI’ s majority owner, State Capital Investment Corporation, which is the sovereign…
AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of“ a-” of NEWGT Reinsurance Company, Ltd.. As of the financial year ending on 31 March 2025, the company showed somewhat elevated underwriting risks from significant premium growth during the period, and the company expects to maintain a similar level over the coming…
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of“ aa” of Minnesota Life Insurance Company and its subsidiary, Securian Life Insurance Company, together referred to as Securian Financial Insurance Group. Concurrently, AM Best has affirmed the FSR of A and the Long-Term ICR of“ a+” of Securian Casualty Company.
AM Best has affirmed the Financial Strength Rating of B and the Long-Term Issuer Credit Rating of“ bb+” of Mongolian National Reinsurance JSC. The outlook of these Credit Ratings is stable. Offsetting factors include its limited capital size, which was MNT 48.95 billion as of year-end 2024, under IFRS 17 accounting standard, as well as the inherent systemic risk…
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a” of China Taiping Insurance Company Limited. The outlook of these Credit Ratings is stable. The ratings reflect CTPI’ s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and…
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a” of African Reinsurance Corporation. An offsetting rating factor is ARC’ s exposure to the elevated levels of economic, political and financial system risk that are associated with its main operating markets in Africa. AM Best notes that the company’ s ROE should be…
AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of“ a-” of Gaviota Re S.A.. As of 31 December 2024, the funds Gaviota allocated to the inter-company loans with Repsol represented 54% of the company’ s total assets. In 2024, Gaviota reported after-tax profits of EUR 58.7 million, which are supported by a strong…
Seel, the leading agentic post-purchase platform, today announced new insurance and reinsurance partnerships with Lloyd’ s of London and Arch Insurance. Seel uses AI to power its trademarked Worry-Free Purchase ® program, a post-purchase service that augments merchants’ existing operations. Headquartered in San Francisco, Seel has six offices across…
2025 DEC 02– By a News Reporter-Staff News Editor at Insurance Daily News– According to news reporting originating from Washington, D.C., by NewsRx journalists, a trademark application has been made for“ WHOLE RISK SOLUTION” by Eric Fingerhut Dykema Gossett, PLLC, representing Amerisure Mutual Insurance Company. This application was made available to the public…
Fortitude Reinsurance Company Ltd., today announced a $200,000 donation to the Educational Arts Team through its Fortitude Re 4 Good community partnership program. The donation will help expand arts-based learning experiences that encourage creativity, self-expression, and academic growth among students in Jersey City and neighboring communities.
