AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating and affirmed the Financial Strength Rating of B++ and the Long-Term ICRs of“ bbb” of Florida Family Insurance Company and its subsidiary, Florida Family Home Insurance Company, which together make up the two pool members of Florida Family Group. The outlook of the FSR is…
Reinsurance
Both the Block 1 CLN and Block 2 CLN are in consideration of a variable funding surplus note issued by Redding Reassurance Company 3 LLC, a Missouri- domiciled special purpose financial captive reinsurer and a direct wholly owned subsidiary of Wilton Reassurance Company. Each VSN supports the excess reserves for a block of life insurance business retroceded…
June and July 1 renewals A preview of the market ahead of the annual Rendez-Vous Septembre conference in Monte Carlo Current risk appetite and pricing Capacity and challenges. Panelists include Jim Williamson, president and CEO of Everest Group; Greg Hendrick, President and CEO of Vantage Risk; and Dan Hofmeister, associate director, AM Best.
Armed Forces Benefit Association, and its affiliate, 5 Star Life Insurance Company, announced today the appointment of Xianmei Tang as Chief Actuary and Senior Vice President, Actuarial, effective June 13, 2025. AFBA and 5 Star Life appoints Xianmei Tang as Chief Actuary and Senior Vice President, Actuarial. Xianmei Tang, FSA, MAAA, PRM, LTCP, is a seasoned actuarial…
The Insurance Information Institute and Munich Reinsurance America, Inc. have released a new consumer guide highlighting the growing impact of legal system abuse and its negative financial impact on consumers and businesses in the United States. As reported in the Triple-I/ Munich Re US consumer guide, legal system abuse has resulted in:.
Taiwan’ s domestic non-life insurance premium continued to increase in 2024, growing 10.5% to reach TWD 278.5 billion, according to a new AM Best report. The Best’ s Market Segment Report,“ Taiwan Non-Life Segment’ s Operating Performance Supported by Tighter Underwriting Guidelines,” also notes that this segment’ s overall capital& surplus level has continued to…
Freedom Holding Corp., a multinational diversified financial services holding company with a presence in 22 countries, today announced the financial results for their fiscal year 2025. $2.05 billion in revenue versus $1.67 billion for the fiscal year 2024, a 23% increase Net income of $1.40 earnings per diluted share; $1.43 per basic share $9.9 billion in…
AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Ratings of“ a-” of Through Transport Mutual Insurance Association Limited and its subsidiaries, TT Club Mutual Insurance Limited and TT Club Mutual Insurance N.V.. TTB, TTI and TTNV are collectively known as the TT Club. The associated risks are mitigated partially by the high…
AM Best has affirmed the Financial Strength Ratings of A and the Long-Term Issuer Credit Ratings of“ a+” of Solen Versicherungen AG and Noble Assurance Company. The outlook of these Credit Ratings is stable. In addition, the ratings factor in rating enhancement from SVAG’ s ultimate parent, Shell plc, reflecting the company’ s importance to the group as a…
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B and the Long-Term Issuer Credit Rating of“ bb+” of Reaseguradora Santo Domingo, S.A.. REASANTO is a reinsurance company founded in 1973 in Santo Domingo, Dominican Republic. In 2024, the company started underwriting business in Central America following its…
The United States personal auto insurance industry achieved its strongest underwriting performance in the post-pandemic era, recording a net combined ratio of 95.3 in 2024, but continues to face headwinds due to escalating legal system abuse and a challenging regulatory environment, according to a new Issues Brief published today by the Insurance…
National Risk Advisors to Support Florida ACOs with Cost-Saving Strategies and Risk Solutions through FLAACOs Partnership
The Baldwin Group announced today that, Westwood Insurance Agency LLC, an indirect subsidiary of The Baldwin Group, has entered into an agreement to acquire from Hippo Holdings, Inc. and its affiliates all the outstanding equity interests of the various entities comprising Hippo’ s homebuilder distribution network. “Through the acquisition of Hippo’ s…
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 in Spain seeking further geographic diversification…
Under the newly approved legislation, the captive will be formed by July 1 and apply to buildings and property owned by a public school, state-supported institution of higher education or the state. During the Arkansas Legislative Council's Executive Subcommittee meeting Monday, Crossett Republican and panel chair Sen. The issue came into focus for…
Aspen Insurance Holdings Limited has priced an underwritten public offering of US $300,000,000 aggregate principal amount of 5.750% senior notes due 2030. The offering was led by Citigroup Global Markets Inc., HSBC Securities Inc. and Lloyds Securities Inc., as joint book-running managers. Citigroup Global Markets Inc., c/o Broadridge Financial…
American Financial Group, Inc. previously announced that a wholly-owned subsidiary of AFG had reached agreements to sell the hotel and related assets and the marina comprising Charleston Harbor Resort& Marina, a premier resort property and marina located in Charleston, South Carolina. About American Financial Group, Inc.. American Financial Group is an…
The ratings also reflect rating enhancement provided by Curi Insurance Group. MPIE’ s balance sheet strength assessment is supported by the strongest level of risk-adjusted capitalization, as measured by Best’ s Capital Adequacy Ratio, and is underpinned by a significant reduction in underwriting risk following MPIE being placed into run-off effective…
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Ratings of“ a-” of DTRIC Insurance Company, Limited and its reinsured affiliate, DTRIC Insurance Underwriters, Limited. Both companies are domiciled in Honolulu, HI. The ratings also consider the impact of implicit and explicit…
