AM Best has assigned a Financial Strength Rating of A- and a Long-Term Issuer Credit Rating of“ a-” to China Ping An Insurance Company Limited. The ratings also reflect the support of its affiliated company, Ping An Property& Casualty Insurance Company of China, Ltd.. CPAHK acts as a vital link for Ping An P&C’ s GBA initiatives in Hong Kong/ mainland China cross-border…
Reinsurance
Arch Reinsurance Group today announced the promotions of William Soares to CEO of Arch Reinsurance Ltd. in Bermuda and Jon Schriber to CEO of Arch Reinsurance Company in the U.S., effective immediately. Soares joined Arch in 2006 and has held various roles of increasing responsibility within Arch Re in Bermuda. He has served as President of Arch Reinsurance…
Reliance Matrix announced today an enhancement to its Employee Navigator integration with the introduction of a new Evidence of Insurability API, designed to simplify benefits administration and create a more seamless enrollment experience for employers, brokers, and employees. The new capability allows employees to complete Evidence of Insurability…
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of“ a+” of BNY Trade Insurance, Ltd. and The Hamilton Insurance Corp.. The companies also benefit from the financial flexibility and support from its ultimate parent, The Bank of New York Mellon Corporation. BNY Trade and Hamilton are single-parent captives of their…
Arch Insurance North America announced the launch of a suite of products designed to enhance employee benefit portfolios for insurance brokers and agents. These benefits can be used at the employee’s discretion to help cover expenses such as medical bills, transportation, childcare or other incidental costs that may arise during recovery. Annual Travel…
But there is at least one bright spot in downtown Hartford: One Financial Plaza, the " Gold Building. The recent announcement that high-profile law firm Shipman& Goodwin will relocate to the Gold Building— owned by partners Hartford- based LAZ Investments and Shelbourne Global Solutions LLC of Brooklyn, N.Y. since 2019— and will lease 70,000 square feet spread…
Effective August 1, Lisa Butera will join as Chief Underwriting Officer for North America, overseeing the company’ s National, Regional, and MGA underwriting teams in the United States and Bermuda. In a concurrent move, Lucas Castagnino, who is currently Head of Latin America and Caribbean, has been appointed Chief Underwriting Officer for Latin America and…
Shares of Enact Holdings, Inc. (NASDAQ: ACT) traded at a new 52-week high today and are currently trading at $46.23. So far today, approximately 19,283 shares have been exchanged, as compared to an average 30-day volume of 330.23k shares. Enact Holdings, Inc. operates as a private mortgage insurance company in the United States. The company […]
International General Insurance Holdings Ltd. today announced that it expects to release financial results for the second quarter and first half of 2026 on Tuesday, August 4, 2026, after the close of the U.S. financial markets. The Company will host an investor teleconference, including a question-and-answer period, on Wednesday, August 5, 2026, at 9:00 a.m….
AM Best has assigned a Financial Strength Rating of A and a Long-Term Issuer Credit Rating of“ a” to Ikano Re AG. Ikano Re is ultimately majority-owned by the founding family of the global retail store brand, IKEA. The company benefits from its niche position as provider of reinsurance coverage for risks linked to the global IKEA franchise system, with the majority…
A University of Kentucky lawyer told trustees last week that UK officials make trips to the Cayman Islands and London, England, because it’ s a requirement for the university’ s insurance company, Insure Blue. UK spent thousands of dollars on trips to the Cayman Islands and London, England, in recent years for meetings about its captive insurance company, Insure…
Fortitude Re announced today the signing of a $3.8 billion reinsurance transaction between its subsidiary, Fortitude Reinsurance Company Ltd. and Unum Life Insurance Company of America, a subsidiary of Unum Group. Upon receipt of regulatory approvals and subject to satisfaction or waiver of certain other customary closing conditions, Unum will…
Unum Group announced today that its Unum Life Insurance Company of America subsidiary has entered into an agreement to cede to Fortitude Reinsurance Company Ltd., on a coinsurance basis, certain individual long-term care insurance policies representing $3.8 billion of statutory reserves in Fairwind Insurance Company, a wholly owned subsidiary of Unum.
Malibu Life Holdings Limited, a London Stock Exchange- listed insurance holding company focused on the U.S. retirement and annuity market, today announced the successful closing of its acquisition of TruSpire Retirement Insurance Company, which will be rebranded as Malibu Life USA. TruSpire brings Malibu Life a U.S.- domiciled insurance company with broad…
AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of“ a-” of Helvetica Re Rückversicherung AG Corporation. The company is Barbados- domiciled and began commercial operations in 2022, underwriting surety for renewable energy and infrastructure developments mainly in Spain with a geographic presence in Latin…
AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of“ a-” of Motors Insurance Company Limited. The outlook of these Credit Ratings is stable. MICL is a wholly owned subsidiary of AmTrust International Insurance, Ltd., which is a member of the AmTrust Group.
Ms. Bewlay will report to Eric Andersen, President& Chief Executive Officer of AIG, and join the Company’ s Executive Leadership Team. In this role, Ms. Bewlay will have responsibility for AIG’ s underwriting strategy, including advancing underwriting management best practices and overseeing the Company’ s global underwriting organization and its focus on…
AM Best has affirmed the Financial Strength Rating of B+ and the Long-Term Issuer Credit Rating of“ bbb-” of JSC Insurance Company Aldagi Group. The outlook of these Credit Ratings is stable. Offsetting factors include the company’ s onerous dividend policy, which limits its internal capital generation, as well as Aldagi’ s exposure to the moderate political risk…
Acrisure, a global fintech leader, today launches Asero Insurance Services, a specialty managing general agency that unifies several Acrisure- owned program administrators under a common brand in the United States. This press release features multimedia. Acrisure owns 13 US-based MGAs that collectively underwrite over $1 billion of premium, of which six…
