The North Carolina legislature ended its 2003 session recently without resolving several reported controversial bills, but did pass measures that restrict insurers use of credit and alternative automobile crash parts. The Senate is scheduled to return Sept. 15-19 to consider …
As the legislative session continues to roll forward in Oregon, Senate bills that would unfairly expand environmental insurance coverage and restrict insurers’ use of credit information are stirring controversy, according to the National Association of Independent Insurers (NAII). NAII is …
Bermuda-based White Mountains Insurance Group, Ltd. ended the second quarter of 2003 with a fully converted tangible book value per share of $281, an annualized increase of 18 percent (including dividends) from $259 at year-end. The company’s comprehensive net income …
Standard & Poor’s reported it raised to ‘BBB-‘ from ‘BB+’ its long-term counterparty credit and insurer financial strength ratings on Germany-based non-life insurer, Gerling-Konzern Allgemeine Versicherungs-AG (GKA). “The rating action reflects legally binding commitments for GKA’s planned equity capital increase, …
A.M. Best Co. has affirmed the A- (Excellent) financial strength rating of Corifrance (France). The rating reflects Corifrance’s excellent capitalization and improving operating performance. An offsetting factor relates to the company’s limited market profile. The rating outlook remains stable. Excellent …
American Physicians Capital, Inc., a national provider of medical professional liability coverage and workers’ compensation through American Physicians Assurance Corporation and its other subsidiaries, announced that Standard & Poor’s Ratings Services (S & P) reaffirmed its ‘A-‘ financial strength rating …