Risk management and capital modeling has evolved as the risk environment of the insurance industry has continued to evolve. Enterprise Risk Management is the broad description of the further integration of risk management across an organization's operations - incorporating the assessment and monitoring of investment, underwriting, operational and reputation risks...
The retirement income market remains a largely untapped opportunity and an underserved need. As the U.S. population ages and life spans continue to increase, more and more people are waking up to a new retirement challenge. Insurers are missing an opportunity to expand their current focus on growing savings to...
The sea of challenges to workers' compensation profitability seems to stretch endlessly to the horizon: insurer insolvencies and withdrawals from markets, accelerating medical inflation, lengthening claim durations, terrorism exposure, regulatory concern with increasing rates, swelling residual markets and waves of loss reserve hits. Is there any hope for the insurer...
Physician services, hospital services, legal costs and auto-body repair expenses continued to outpace the general rate of inflation, keeping the price indexes for most of the property/casualty industry's major business lines above the consumer price index for the period 1999-2001, although many dropped below the CPI for 2001. This article...
Tillinghast-Towers Perrin has analyzed the federal Terrorism Risk Insurance Act and suggested scenarios to illustrate how risk will be borne if another terrorist catastrophe occurs. This article comments on the federal Terrorism Risk Insurance Act and how this will impact pricing for terrorism coverage. It depicts that while catastrophe models...
OLDWICK, N.J. -- A.M. Best Co. has withdrawn the financial strength rating FSR of A- Excellent and the issuer credit rating ICR of "a-" and assigned a category NR-5 Not Formally Followed to Southern General Indemnity Insurance Company Southern General Indemnity. These rating actions follow the recent merger of Southern...
OLDWICK, N.J. -- A.M. Best Co. has upgraded the issuer credit rating ICR to "a+" from "a" of Hannover Rueckversicherung AG Hannover Re Germany and its rated subsidiaries. Concurrently, A.M. Best has affirmed the financial strength rating of A Excellent of these entities and upgraded the debt ratings either issued...
OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating of A- Excellent and issuer credit rating of "a-" of Consumer Insurance Services Limited CISL New Zealand. The outlook for both ratings is stable. The ratings reflect CISL's consistent operating profitability and improvement in risk-adjusted capitalization....
OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating of A- Excellent and issuer credit rating of "a-" of Credit & General Insurance Limited CGIL New Zealand. The outlook for both ratings is stable. The ratings reflect CGIL's conservative risk-adjusted capitalization, consistent operating performance and...
OLDWICK, N.J. -- A.M. Best Co. has commented that the ratings of Zurich Financial Services ZFS Switzerland and its rated operating subsidiaries remain unchanged following ZFS' announcement of its intention to acquire a 50% share of BanSabadell Vida SA de Seguros y Reaseguros BanSabadell Vida Spain, BanSabadell Pensiones E.G.F.P., S.A....
OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating of B Fair and issuer credit rating of "bb" of Metropolitan Health Plan MHP (Minneapolis, MN). The outlook for both ratings is negative. Concurrently, A.M. Best has withdrawn the ratings and assigned a category NR-4 (Company...
OLDWICK, N.J. -- A.M. Best Co. has downgraded the bank deposit rating BDR to "bbb+" from "a-"and issuer credit rating ICR to "bbb+" from "a-" of Fidelity Bank of Florida, National Association FBF (Merritt Island, FL). The outlook for the ratings has been revised to negative from stable. ...
OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating of A- Excellent and issuer credit rating of "a-" of Imagine Insurance Company Limited Imagine Barbados. The outlook for both ratings is stable. The ratings reflect Imagine's global strategy, solid net returns since inception and strong...
OLDWICK, N.J. -- The findings from A.M. Best Co.'s cycle management study show just how difficult it is for property/casualty (P/C) companies to surpass the performance of their peers on a consistent, long-term basis. Only 14% of the total study population outperformed their industry composite medians over the most recent...
OLDWICK, N.J. -- A.M. Best Co. has downgraded the issuer credit ratings ICR to "bb-" from "bb" of Kingsway Financial Services Inc. KFSI (Mississauga, Ontario) and Kingsway America Inc. KAI (Elk Grove Village, IL). Concurrently, A.M. Best has downgraded the financial strength ratings FSR to B+ Good from...
OLDWICK, N.J. -- Dislocation in the capital markets and rising investment risk continue to place stress on the balance sheets of publicly traded life and annuity companies. Despite a challenging first quarter, A.M. Best Co. does not expect industry-wide distress. * Comparing the change in accumulated other comprehensive...
OLDWICK, N.J. -- A.M. Best Co. has assigned a financial strength rating of A- Excellent and an issuer credit rating of "a-"to White Mountain Insurance Company White Mountain (Burlington, VT). The outlook assigned to both ratings is stable. The ratings reflect White Mountain's excellent capitalization, solid underwriting and...
OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength ratings FSR and issuer credit ratings ICR of 30 health maintenance organizations HMO, downgraded nine FSRs and ICRs, upgraded eight FSRs and ICRs, assigned two FSRs and ICRs and withdrew one FSR and ICR. (See below for a detailed...
OLDWICK, N.J. -- A.M. Best Co. has assigned a financial strength rating of B+ Good and an issuer credit rating of "bbb-" to Bosna Reinsurance Co. Ltd Bosna Re Bosnia and Herzegovina. The outlook for both ratings is stable. The ratings reflect Bosna Re's good business profile and...
OLDWICK, N.J. -- A.M. Best Co. has downgraded the financial strength rating FSR to B++ Good from A- Excellent and issuer credit rating ICR to "bbb+" from "a-" of MAPFRE Life Insurance Company MAPFRE Life (San Juan, PR). The outlook for both ratings is stable. These rating actions...
Articles 2008-07-11
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