International Insurance Institute Claims Industry News

Ratings Roundup: McMillan-Warner, Republic, School Boards

Fri, 24 Feb 2012 19:18:18 +0000

A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of ‘A-’ (Excellent) and issuer credit rating of “a-” of Wisconsin-based McMillan-Warner Mutual Insurance Company (MWM). Best explained that the revised outlook reflects …

Ratings Roundup: PMG (Sony), National Grid, Tapiola

Fri, 24 Feb 2012 18:33:13 +0000

A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of” A’ (Excellent) and issuer credit rating of “a” of Bermuda-based PMG Assurance Ltd. Best said the ratings “reflect PMG’s excellent capitalization, its …

Allianz Posts $3.73 Bn Net Income; Hit by Cat Claims, Sovereign Debt, Banks

Fri, 24 Feb 2012 18:08:15 +0000

Catastrophe claims and write downs on investments in sovereign bonds and banks were behind the profit fall revealed by Allianz, Europe’s biggest insurance group. On Thursday it reported net income of €2.804 billion [$$3.777 billion], missing estimates by almost half …

Ironshore Opens P/C Production Center in Boston for Wholesale Market

Fri, 24 Feb 2012 17:59:34 +0000

Ironshore Inc. has opened a property/casualty production center in Boston dedicated to the insurance wholesale market, the company said. The new center will focus on serving the East Coast, including New England, New York, Atlanta and the Mid-Atlantic regions. Ironshore …

AIG’s Benmosche: ‘AIG Has Not Only Survived, It’s Got Its Strength’

Fri, 24 Feb 2012 17:47:32 +0000

AIG’s top executives struck an optimistic note as the insurer reported strong 2011 fourth-quarter profit results. CEO Robert Benmosche told analysts during a conference call this morning that AIG is regaining its strength and is moving in the right direction. …