W. Robert Berkley Jr. Named President, COO of W.R. Berkley Corp.: W. Robert Berkley Jr. has been named president and chief operating officer of W.R. Berkley Corp. effective immediately, the company said. Berkley has served as executive vice president of the insurance holding compan...
Date: 11/4/2009    Source: BestWire News

A.M. Best Affirms Ratings of Americo Life, Inc. and Its Subsidiaries: A.M. Best Co. has affirmed the financial strength rating (FSR) of A- (Excellent) and issuer credit rating (ICR) of “a-” of Americo Financial Life and Annuity Insurance Company (AFL) (Dallas, TX). Additionally, A.M. Best has a...
Date: 11/4/2009    Source: BestWire News

A.M. Best Assigns Rating to Senior Unsecured Debt Offering of Reinsurance Group of America Incorporated: A.M. Best Co. has assigned a debt rating of “a-” to $400 million 6.45% senior unsecured notes due 2019 of Reinsurance Group of America Incorporated (RGA) (St. Louis, MO) [NYSE: RGA]. The outlook assigned to the rating is stab...
Date: 11/4/2009    Source: BestWire News

Life Insurer Phoenix Forms Distribution Company as It Posts Fifth Straight Net Loss: As Phoenix Cos. posted its fifth straight net loss in the third quarter, the U.S. life insurer said it formed a distribution company, which inked a deal with financial services firm Edward Jones to provide life insurance cons...
Date: 11/4/2009    Source: BestWire News

Hartford Narrows Net Loss as Unrealized Investment Losses Drop More Than 50%: Hartford Financial Services Group Inc.'s new Chairman and Chief Executive Officer Liam E. McGee said the company's third-quarter results -- a net loss of $220 million -- are a sign the insurer is "emerging from the challenges...
Date: 11/4/2009    Source: BestWire News

Report: UK Medical Insurance Sector 'Steadfast' Despite Recession: The U.K. market for private medical insurance "remained steadfast" in 2008, despite a growing recession, according to London-based research firm Laing & Buisson. This resilience confirmed private medical insurance's ...
Date: 11/4/2009    Source: BestWire News

Colorado, North Carolina and Maine See Workers' Compensation Loss Cost Cuts: Colorado, North Carolina and Maine each announced decreases in workers' compensation loss costs starting in 2010. Colorado Insurance Commissioner Marcy Morrison said in a statement employers could see as much as $84 ...
Date: 11/4/2009    Source: BestWire News

Strong Underwriting Boosts Max Capital's Third-Quarter Net: Max Capital Group Ltd. posted improved third-quarter earnings buoyed by profitable underwriting, a mild hurricane season and improved investment returns. The company reported net income of $95.3 million for the third...
Date: 11/4/2009    Source: BestWire News

RGA Upsizes Debt Offering 33%: Life reinsurer Reinsurance Group of America Inc. said it has increased its proposed debt offering by 33% because of investor interest. The company had been planning on raising $300 million in senior unsecured notes, ...
Date: 11/4/2009    Source: BestWire News

Investments, Life Income Hit Nine-Month Results for Finland's Sampo: Finnish insurer Sampo said its nine-month pretax profit fell 6.2% to 625 million euros (562.5 million pounds) as life insurance and investment income slipped. Sampo reported a mixed set of results for the first three...
Date: 11/4/2009    Source: BestWire News

Election 2009: GOP Wins States, Democrats Add Two U.S. House Seats: Two new Republican governors swept the only state executive races up for grabs on Election Day 2009. In federal races, Democrats came out on top, including former California Insurance Commissioner John Garamendi. Fo...
Date: 11/4/2009    Source: BestWire News

A.M. Best Assigns Ratings to East Africa Reinsurance Company Limited: A.M. Best Co. has assigned a financial strength rating of B (Fair) and issuer credit rating of “bb+” to East Africa Reinsurance Company Limited (EARe) (Kenya). The outlook for both ratings is stable. The ratings of E...
Date: 11/4/2009    Source: BestWire News

Scor's Third-Quarter Net Surges on Growth in Life and Nonlife Segments: French reinsurer Scor claimed a "robust" third quarter, as net income rose 147.7% to 94 million euros (US$138.5 million) on growth in both its life and nonlife reinsurance segments. Net income for the first nine mo...
Date: 11/4/2009    Source: BestWire News

A.M. Best Assigns Ratings to Delta Dental Plan of Arkansas, Inc.: A.M. Best Co. has assigned a financial strength rating of A- (Excellent) and issuer credit rating of “a-” to Delta Dental Plan of Arkansas, Inc. (DDAR) (Sherwood, AR). The assigned outlook is stable. The ratings ref...
Date: 11/4/2009    Source: BestWire News

BestDay Video for Wednesday, Nov. 4: Insurers Turn to Social Media to Market Products: BestDay Video for Wednesday, Nov. 4: On the eve of A.M. Best's 4th Annual Insurance Marketing and Advertising Summit in New York City, Senior Associate Editor Lori Chordas reports on how social media is the newest tool for in...
Date: 11/4/2009    Source: BestWire News

BestDay Audio for Wednesday, Nov. 4: ComScore's Engleson on Digital Marketing; ING's Mulheran on Financial Crisis: BestDay Audio for Wednesday, Nov. 4: Susan Engleson, senior manager at comScore, discusses insurers' digital marketing initiatives, including online advertising, social media and other venues. Insurers have been actively buil...
Date: 11/4/2009    Source: BestWire News

EGI Financial Holdings Leads Tuesday's AMBG as Global Insurance Index Declines 0.11%: The AMBG closed Tuesday, Nov. 3, at 772.66 (-0.11%). Of the 15 A.M. Best stock indexes, eight rose and seven declined. Leading A.M. Best's Global Insurance Composite Index (AMBG) were EGI Financial Holdings (+14.90%) and Phoe...
Date: 11/4/2009    Source: BestWire News

Seitz to Head Outwards Reinsurance at Brit: Reinhard Seitz has been appointed head of outwards reinsurance at Brit Insurance Holdings plc. Seitz takes up the job immediately, reporting to Jonathan Turner, chief executive of Brit Reinsurance. With more...
Date: 11/4/2009    Source: BestWire News

Matanle Named to Board of London Broker THB: Steve Matanle has been named an executive director to the board of specialist broker THB Group. The Lloyd's broker said Matanle, who joined the group six months ago, will retain his position as chief executive of the...
Date: 11/4/2009    Source: BestWire News

Chinatrust Challenges AIG's Nan Shan Deal in Taiwan: Chinatrust Financial Holding Co., one of the bidders for American International Group Inc.'s [18540] Taiwanese life unit, is challenging AIG's deal to sell the unit to a consortium led by Primus Financial Holdings Ltd. ...
Date: 11/4/2009    Source: BestWire News