MELBOURNE, Australia, Dec. 15– Monash University issued the following news:. Following a federally funded Monash University- led report on genetic discrimination in life insurance, the Federal Government announced a consultation period until 31 January 2024. Monash University School of Public Health and Preventive Medicine Public Health Genomics Ethical,…
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AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of“ aa-” of the life/health insurance subsidiaries of Prudential Financial, Inc., collectively referred to as Prudential. The U.S. insurance companies have adequate liquidity metrics and favorable financial flexibility options through its access to the capital…
AM Best has commented that the Financial Strength Rating of A- and the Long-Term Issuer Credit Ratings of“ a-” of the rated operating subsidiaries of SiriusPoint Ltd. are unchanged following published reports that CMIG International Holding Pte. Ltd.- the parent of SiriusPoint’ s key shareholder, CM Bermuda Ltd.- has been taken into private receivership by its…
The House Financial Services Subcommittee on Housing and Insurance issued the following testimony by Borger Residential President Arianna Royster involving a hearing on Dec. 6, 2023, entitled "Housing Affordability: Governmental Barriers and Market-Based Solutions":. My name is Arianna Royster, the President of Borger Residential, and I am pleased to…
The House Financial Services Subcommittee on Housing and Insurance issued the following testimony by Diane Yentel, president and CEO of the National Low Income Housing Coalition, involving a hearing on Dec. 6, 2023, entitled "Housing Affordability: Governmental Barriers and Market-Based Solutions":. Providing Increased Access to Stable, Fair, Affordable…
The House Financial Services Subcommittee on Housing and Insurance issued the following testimony by Diane Yentel, president and CEO of the National Low Income Housing Coalition, involving a hearing on Dec. 6, 2023, entitled "Housing Affordability: Governmental Barriers and Market-Based Solutions":. Chairman Davidson, Ranking Member Cleaver, and members of…
The House Financial Services Subcommittee on Housing and Insurance issued the following testimony by the U.S. Mortgage Insurers President Seth D. Appleton involving a hearing on Dec. 6, 2023, entitled "Housing Affordability: Governmental Barriers and Market-Based Solutions":. Chairman Davidson, Ranking Member Cleaver, Members of this distinguished…
The House Financial Services Subcommittee on Housing and Insurance issued the following testimony by Norbert Michel, vice president and director for the Center for Monetary and Financial Alternatives at the Cato Institute, involving a hearing on Dec. 6, 2023, entitled "Housing Affordability: Governmental Barriers and Market-Based Solutions":.
Spirit and Radius each have the inherent benefits of financial flexibility and support as captive insurers for their ultimate parent, Phillips 66, with integrated operations, closely aligned and uniform interests, and are established core elements in its overall risk management program. Spirit provides property damage, business interruption,…
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a” of Barents Re Reinsurance Company, Inc. and its affiliate, Barents Reinsurance S.A.. The outlook of these Credit Ratings is stable. Overall, Europe- sourced business represents 74% of Barents Re’ s portfolio, with the Latin America region generating 18% and the…
AM Best has affirmed the Financial Strength Rating of A and a Long-Term Issuer Credit Rating of“ a+” of Fontana Reinsurance Ltd.. At the same time, AM Best has affirmed the FSR of A and the Long-Term ICR of“ a+” of Fontana Reinsurance U.S. Ltd.. Fontana Re and Fontana Re US are owned by Fontana Holdings L.P..
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of“ bbb+” of Arab War Risks Insurance Syndicate. The outlook of these Credit Ratings is stable. Given the nature of AWRIS’ operations and membership structure as a syndicate of insurance companies in the Middle East and North Africa region, risks associated with the…
–World Insurance Associates LLC, a Top 50 Insurance Brokerage, announced today that it acquired the business of Calhoun Agency, Inc. of Haddonfield, NJ on December 1, 2023. “Calhoun is committed to a high standard of excellence in all we do,” says Chuck Calhoun, President, Calhoun Agency.“ We take professional responsibility to help our customers make the right…
WARREN, New Jersey- December 15, 2023- Everest today announced Soledad Muné will be appointed Chief Operating Officer, Latin America, Everest Insurance International ® effective January 1, 2024. She will report to Pablo Korze, Regional President, Latin America, Everest Insurance International ®. Ms. Muné will lead the region's expansion strategy, driving…
–HDFC ERGO General Insurance, India's leading non-life insurance company, announces the launch of a movement to instigate a behavioural shift among vehicle owners, urging them to recognise the criticality of motor third-party insurance from legal and societal-responsibility points of view. While the Government and Insurance Regulator have taken a slew…
–Elevate Risk Solutions, LLC announced today that CEO Jerry Messick is stepping down effective January 1, 2024, and will continue to serve the firm as a consultant. Throughout his eight-plus years with Elevate Risk Solutions, Ralston has provided innovative and strategic risk management and captive insurance solutions to help business owners reduce risk…
AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of“ a-” of Qianhai Reinsurance Co., Ltd.. The outlook of these Credit Ratings is stable. Capital and surplus increased by 2.1% to RMB 3.4 billion in 2022, underpinned by full retention of net profit.
–The Progressive Corporation today reported the following results for November 2023:. We do not expect that this change will have a material impact on our reported quarterly and annual underwriting results but it may impact our year-over-year comparisons on monthly results from October 2023 through September 2024. Click here for further discussion on the…
Today Insurance Commissioner Ricardo Lara told California Assembly members at a legislative oversight hearing that, " California is at an insurance crossroads and for many Californians, this is an insurance emergency." He underscored the need for marketplace reforms, with the FAIR Plan reporting 20 percent growth of policies in 2023 and restrictions by…
