GENEVA– Swiss Reinsurance Co. says it is selling part of its U.S. business to Jackson National Life Insurance for $600 million in cash. Swiss Re said in a statement Thursday that a pre-closing dividend will boost its total gain from the sale to $900 million. Shares in Swiss Re rose 0.9 percent to 55.50 Swiss francs on the Zurich exchange.
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Aurora Health Care is promising employers guaranteed savings if they offer a health plan that requires employees and their families to use only Aurora hospitals, doctors and other services. Froedtert Health, Wheaton Franciscan Healthcare and Columbia St. Mary’s Health System are part of a partnership with other health systems in eastern and north-central…
Markel American Insurance Company, a specialty insurance provider for boats, has partnered with the Recreation Boating and Fishing Foundation to promote fishing with kids during National Fishing and Boating Week June 2 10.. “The greatest memories I have are fishing with my dad,” says 13 time Bassmaster Qualifier and host of the TV Show “One More Cast”, Shaw Grigsby. “
A.M. Best Co. has downgraded the financial strength rating to A- from A and issuer credit ratings to “a-” from “a” of Canal Insurance Company and its 100 percent reinsured subsidiary, Canal Indemnity Company. Together, these companies are known as the Canal Group. The outlook for all ratings has been revised to stable from negative.
Fitch Ratings has assigned’ BBB-‘ ratings to Group Health Cooperative’s planned issue of $225 million of senior secured bonds with a mix of five and 10 year maturities. The downgrade of the ratings on Group Health’s currently outstanding bonds and the company’s IFS ratings reflects the significant increase in financial leverage and annual interest expense…
EXFO Inc. and RAD Data Communications announced the availability of their new integrated solution for monitoring of data networks. By integrating RAD network interface devices with EXFO’s Brix System service assurance solution, network operators can now access a wider range of metrics than ever before, all collected and correlated on a single, Web-based…
Frank Crystal& Company, an independent insurance brokerage firm, has announced an exclusive cooperation with P.L. Ferrari& Co. to launch a new U.S. based Marine Insurance practice. “Liability legislation around the world is heating up against ship owners, and the United States is no exception,” said Jamie Crystal, executive vice president of Frank Crystal& Company…
Best Europe- Rating Services Limited has affirmed the issuer credit rating of a of the non-operating holding company, Legal and General Group, as well as the ratings for all debt issued or guaranteed by L&G. In a release dated May 25, A.M. Best said at the same time, A.M. Best has affirmed the financial strength rating of A+ and ICR of aa- of Legal and General Assurance…
W. R. Berkley Corp. announced that Michael G. Connor has been named president of Continental Western Group. Connor succeeds Bradley S. Kuster, who will oversee other activities within the W. R. Berkley Corp. group of companies, the Company noted in a release. William R. Berkley, chairman of the board and chief executive officer of W. R. Berkley Corp., said: “Mike brings a…
An insurance broker who submitted false applications for insurance premium financing was sentenced to serve four years, two months in federal prison for using fictitious names in the course of a mail fraud scheme…
This section should be read in conjunction with our consolidated financial statements included elsewhere in this annual report. Comments on the results of operations and financial condition below refer to our continuing operations, except in the section entitled “Discontinued Operations.” We are a leading worldwide designer, manufacturer and marketer of…
White Mountains Insurance Group, Ltd. held its 2012 Annual General Meeting of Members on May 24, 2012 in Bermuda. Nominee: Votes FOR Votes Withheld Broker Non-votes Howard L. Clark, Jr. 3,738,416 166,672 398,532 A. Michael Frinquelli 3,884,108 20,980 398,532 Allan L. Waters 3,783,544 121,544 398,532 Proposal 2- Election of Directors of Sirius International…
A.M. Best Co. has affirmed the financial strength rating of A and issuer credit ratings of“ a” of American Interstate Insurance Company, Silver Oak Casualty, Inc. and American Interstate Insurance Company of Texas, all property/casualty subsidiaries of AMERISAFE, Inc.. Concurrently, A.M. Best has affirmed the ICR of“ bbb” and debt rating of“ bb+” of AMERISAFE, Inc. The…
A.M. Best Co. has downgraded the financial strength rating to A from A+ and the issuer credit ratings to“ a” from“ aa-” of Lititz Mutual Insurance Company, and its three reinsured affiliates: Farmers’ and Mechanics’ Mutual Insurance Company, Livingston Mutual Insurance Company and Penn Charter Mutual Insurance Company. The outlook for all ratings has been revised to…
A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating of B++ and issuer credit rating of“ bbb+” of ISMIE Mutual Insurance Company. In addition, after four consecutive years of varying degrees of adverse loss development ISMIE has experienced annual favorable prior year reserve development, since 2006. ISMIE…
With crop insurance destined to be a key component of the next farm bill, what are insurance agents keeping a close eye on as the legislation takes shape?…
Symetra Life Insurance Company today announced the addition of four more regional sales executives to support group life and disability income insurance sales through benefit consultants, brokers and third-party administrators in select territories across the country. Lou Ascanio— A 20- year group insurance industry veteran, Ascanio comes to Symetra…
May 30– LOCKPORT– Niagara County Sheriff’s Deputy Allen A. Gerhardt and his wife have filed a lawsuit against the man whose flight from a minor accident led to a crash that cost the deputy both of his legs. Attorney Christopher J. O’Brien said Tuesday he filed the lawsuit last week in State Supreme Court in Niagara County. Todd M. Hauser, 36, of New Road, Ransomville, left…
United Security Assurance Company of Pennsylvania is now offering their LifeStyle Solutions and LifeStyle Solutions Select, tax-qualified, pool of money long term care insurance plans in the states of Iowa and Kentucky. These plans are also available in Florida, Illinois, Missouri, Nebraska, North Dakota, Ohio, Pennsylvania, South Dakota, Texas, and Washington.
