A.M. Best’s 2010 Catalog Showcases Products Available Via BestLink Service: A.M. Best Co.’s 2010 Annual Corporate Catalog is now available on the company’s Web site at http://www.ambest.com/sales/catalog.pdf. In addition to insurance industry-focused products, the catalog also includes an introductio...
Date: 3/10/2010    Source: BestWire News

With a Swing to Profit, Fortis Unveils Rebranding Strategy: Dutch-Belgian financial group Fortis said it earned a net profit of 1.19 billion euros (1.08 billion pounds) in 2009, as its remaining insurance operations turned in profitable performances. The group also announced a rebrand...
Date: 3/10/2010    Source: BestWire News

Munich Re Predicts Strong 2009 Gains Will Continue Into 2011: Munich Re said it achieved a 62.4% rise in net profit for 2009, and expected 2010 results to be strong as well, even as the reinsurer took into account two significant catastrophe loss events in recent weeks. The rei...
Date: 3/10/2010    Source: BestWire News

Malaysia's Regulator Sees No Threat to Financial Services Sector From Prudential-AIA Combination: Bank Negara Malaysia, the country's financial services regulator, said the domestic life insurance sector will continue to grow with the economic recovery, and will not be adversely affected by the acquisition of AIA Group Lt...
Date: 3/10/2010    Source: BestWire News

Lloyd's Chairman Sees Expansion Potential in Asia: Japan is a stable and profitable insurance market, making it attractive to managing agents looking to diversify their portfolios geographically, according to Peter Levene, chairman of Lloyd's [085202]. Japan is not n...
Date: 3/10/2010    Source: BestWire News

AIG Leads Tuesday's AMBG as Global Insurance Index Declines 0.26%: The AMBG closed Tuesday, March 9, at 837.08 (-0.26%). Of the 15 A.M. Best stock indexes, five rose and 10 declined. Leading A.M. Best's Global Insurance Composite Index (AMBG) was American International Group (+12.61%). Trail...
Date: 3/10/2010    Source: BestWire News

Reinsurers Tally Losses From Chile Quake, European Windstorm: Europe's major reinsurers are beginning to tally up estimated losses from two major disasters that occurred at the same time -- the Feb. 27 earthquake in Chile and the Feb. 26-28 windstorm that swept across Europe. S...
Date: 3/10/2010    Source: BestWire News

2010 Non-U.S. Edition of Best’s Insurance Reports Released: A.M. Best Co. has released the 2010 edition of Best's Insurance Reports– Non-US. This is the first of three yearly data releases that provide subscribers with the latest ratings and reports on insurers in more than 100 nation...
Date: 3/10/2010    Source: BestWire News

BestDay Video for Wednesday, March 10: A.M. Best to Launch Election Web Site: BestDay Video for Wednesday, March 10: With elections eight months from now, A.M. Best Co. is launching an election Web site that previews key races impacting the insurance industry, including elected commissioners and congre...
Date: 3/10/2010    Source: BestWire News

BestDay Audio Podcast for Wednesday, March 10: AIR Worldwide's Peter Dailey on European Windstorms: BestDay Audio Podcast for Wednesday, March 10: Peter Dailey, director of atmospheric science at Boston-based catastrophe modeling firm AIR Worldwide, discusses the damage caused by recent windstorms in Europe. Recent...
Date: 3/10/2010    Source: BestWire News

Update: Consultant: AIA-Prudential Deal Could Prompt Japan Life Mergers: (Clarifies a statement that the financial crisis has destroyed the variable annuities market in Japan, rather than foreign firms.) U.K. life insurer Prudential plc's bid to acquire American International Group's [058...
Date: 3/10/2010    Source: BestWire News

A.M. Best Participates in the Inaugural Bermuda Reinsurance Club: Matt Mosher, senior vice president of ratings, of A.M. Best Co. is participating in the Reinsurance Magazine’s inaugural Bermuda Reinsurance Club being held on March 17 at the Fairmont Hamilton Princess, Hamilton, Bermuda. Mr...
Date: 3/10/2010    Source: BestWire News

Planning Under Way for New York Insurance Exchange: Seven state-appointed working groups will prepare preliminary feasibility reports by the end of April to help determine the feasibility and impact of relaunching the New York Insurance Exchange, more than 20 years after it fo...
Date: 3/9/2010    Source: BestWire News

Zurich North America Commercial Names Head for Construction Group: Zurich has named Scott Rasor as head of Zurich North America Commercial's construction group. Rasor previously served as senior vice president for construction, specializing in residential and specialty risks. He will be base...
Date: 3/9/2010    Source: BestWire News

AHIP DC Conference Focuses on Policy as Protesters March Outside: Health insurers have been a target of daily criticism by the White House and by those who support health reform, so America Health Insurance Plans' annual policy conference in Washington was an apt target for vocal protests. ...
Date: 3/9/2010    Source: BestWire News

A.M. Best Affirms Ratings of DHC Group and Its Members: A.M. Best Co. has affirmed the financial strength rating (FSR) of B- (Fair) and issuer credit ratings (ICR) of “bb-” of DHC Group (DHC) (Long Beach, CA) and its members. The outlook for all ratings is stable. (Please see belo...
Date: 3/9/2010    Source: BestWire News

Jackson National Boosts 2009 Net Income on Variable Annuity Hedging, Sales: Jackson National Life Insurance Co. posted net income of $670 million in 2009, up from a net loss of $1 billion in 2008, mainly on variable-annuity hedging and interest-rate derivatives. The company also reported record sales...
Date: 3/9/2010    Source: BestWire News

Church Insurer GuideOne Looks to Outlast New Competition in Niche: About 60 years ago, the founders of GuideOne Insurance had a novel idea: nondrinkers would be better risks than drinkers for automobile insurance. "It did not take long for a number of agents to actually be pastors,"...
Date: 3/9/2010    Source: BestWire News

A.M. Best Downgrades Ratings of Atlanta Life Insurance Company; Places Ratings Under Review With Negative Implications: A.M. Best Co. has downgraded the financial strength rating to B- (Fair) from B (Fair) and issuer credit rating to “bb-” from “bb+” of Atlanta Life Insurance Company (Atlanta Life) (Atlanta, GA). These ratings have been placed...
Date: 3/9/2010    Source: BestWire News

Iowa Gov. Directs Commissioner to Delay 18% Premium Increase for Wellmark Blues: Iowa's governor directed the state's insurance commissioner to delay an 18% premium rate increase approved for Wellmark Blue Cross Blue Shield pending an independent review to determine if the premium hike is justified. The p...
Date: 3/9/2010    Source: BestWire News