Philadelphia Insurance Companies

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A.M. Best Senior Director: Insurers Are Pursuing a Range of Post-Brexit Plans: Catherine Thomas, senior director of analytics, A.M. Best, said insurers are creating subsidiaries, building new relationships and transferring liabilities in an effort to prepare for possible outcomes, depending on how Brexi...
Date: August 17, 2018 Source: BestWire News

Axis Capital Appoints Head of Product Center for Reinsurance Unit: Marcus Pollak was appointed to the newly created role of head of product center for the reinsurance arm of Axis Capital Holdings Ltd. Based in Zurich, Pollak will lead underwriting process and portfolio management activitie...
Date: August 17, 2018 Source: BestWire News

Hub International to Provide Coverage to Medical, Recreational Cannabis Industries: Hub International Ltd. said it has launched a comprehensive cannabis insurance and risk services to provide coverage to medical and recreational cannabis producers, distributors and retailers. Joshua Smart, practice leader ...
Date: August 17, 2018 Source: BestWire News

Legacy Insurer Darag Appoints Chief Financial Officer: Legacy insurance acquirer Darag has named James Halley as group chief financial officer, effective Sept. 3 and pending regulatory approval. Halley’s appointment is part of an ongoing strategic upscaling of Darag, the compa...
Date: August 17, 2018 Source: BestWire News

MetLife Investment Management Signs $2 Billion Commercial Mortgage Agreement With State Street: MetLife Inc.’s institutional asset management platform has entered into a multiyear agreement with State Street Corp., through which MetLife Investment Management and its affiliates will originate and service up to $2 billion...
Date: August 17, 2018 Source: BestWire News

A.M. Best to Host Webinar on the State of the Global Reinsurance Market: A panel of industry executives and analysts will review the state of the reinsurance markets. This complimentary webinar will be held on Thursday, September 6, 2018, at 2 p.m. (EDT). Register at www.ambest.com/webinars/global...
Date: August 17, 2018 Source: BestWire News

National Reinsurance Corporation of the Philippines Names CEO: The National Reinsurance Corporation of the Philippines has appointed Allan Rossi Santos as its new president and chief executive officer effective Aug. 16. He succeeds Augusto Hidalgo, who is pursuing other opportunities. ...
Date: August 17, 2018 Source: BestWire News

Chubb Asks Judge to Reject Harvey Weinstein’s Request for Stay: Attorneys for Chubb Ltd. asked a federal judge to reject a motion by film producer Harvey Weinstein to postpone the carrier’s lawsuit — over whether it has a duty to defend him — until other criminal-civil sexual harassment l...
Date: August 17, 2018 Source: BestWire News

A.M. Best Affirms Credit Ratings of American Financial Group, Inc. and Most of Its Insurance Subsidiaries: A.M. Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” of Great American Insurance Company and its pooling affiliates, collectively referre...
Date: August 17, 2018 Source: BestWire News

Health Insurers in Connecticut Seek Significantly Lower Rate Increases for 2019: The Connecticut Insurance Department has received individual health insurance rate filing requests for 2019 that, on average, show increases for on- and off-exchange plans that are half of those in 2018. The CID is reviewin...
Date: August 17, 2018 Source: BestWire News

UK Broker Group Expects Drone Covers to Evolve With Growing Market: As drones take on an increasing variety of commercial functions, the insurance coverage that supports these activities is itself likely to become more complex, said Mike Hallam, head of technical services for the British Insu...
Date: August 17, 2018 Source: BestWire News

Shanghai High Court Rejects Former Anbang Chairman’s Appeal: The Shanghai High People’s Court has rejected the fraud-conviction appeal of Anbang Insurance Group’s former chairman, Xiaohui Wu, according to a statement from the court. The ruling “rejects the appeal and upholds the ori...
Date: August 17, 2018 Source: BestWire News

BestWeek: Senators Question Carriers’ Pursuits, Accountability in Bail Bonds Insurance: Two U.S. senators sent letters to 22 insurance companies requesting details of their finances and questioning the accountability of the bail bond agents they underwrite in the wake of reports the pretrial cash bail system unf...
Date: August 17, 2018 Source: BestWire News

A.M. Best Places Credit Ratings of Halyk-Life Under Review With Developing Implications: A.M. Best has placed under review with developing implications the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of Halyk-Life, Life Insurance Subsidiary Company of the Halyk Bank of ...
Date: August 17, 2018 Source: BestWire News

A.M. Best Downgrades Credit Ratings of National Insurance Company Limited; Places Under Review With Negative Implications: A.M. Best has downgraded the Financial Strength Rating (FSR) to C++ (Marginal) from B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “b” from “bbb” of National Insurance Company Limited (National) (India)....
Date: August 17, 2018 Source: BestWire News

A.M. Best Affirms Credit Ratings of Tokio Marine & Nichido Fire Insurance Co., Ltd. and Its U.S. Subsidiaries: A.M. Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” of Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF) (Japan) and its U.S. subs...
Date: August 17, 2018 Source: BestWire News

A.M. Best Comments on Credit Ratings of The Education Benevolent Society Incorporated: A.M. Best has commented that the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of The Education Benevolent Society Incorporated (EBS) (New Zealand), remain unchanged following an anno...
Date: August 17, 2018 Source: BestWire News

A.M. Best Downgrades and Withdraws Credit Ratings of Kanawha Insurance Company: A.M. Best has removed from under review with negative implications and downgraded the Financial Strength Rating to B (Fair) from B++ (Good) and the Long-Term Issuer Credit Rating to “bb+” from “bbb+” of Kanawha Insurance Comp...
Date: August 16, 2018 Source: BestWire News

Prime Insurance Approved to Write Coverage in California: Prime Insurance Co. has been approved to offer surplus lines coverage in California. “We can offer coverage on all or part of a risk, and this gives California brokers and agents more options to write additional business,” ...
Date: August 16, 2018 Source: BestWire News

Panel: Prospect of Federal Rules for Cyber Puts Pressure on Insurers, States: David Provost, deputy commissioner, Vermont; Sandy Bigglestone, director of captives, Vermont; and Brenda Stewart, senior account manager, American International Group Inc., said new rules at the federal level would pre-empt ...
Date: August 16, 2018 Source: BestWire News

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