As of Friday , December 13, 2019 04:30 PM EDT
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NJ Lawmaker: No Rush to Convert Horizon’s Corporate Structure: A New Jersey lawmaker who introduced legislation to convert the state’s largest health insurer into a not-for-profit mutual company said lawmakers, stakeholders and the public will have plenty of opportunity to weigh in on ...
Date: December 13, 2019 04:30:09

Liberty Mutual Latest Insurer to Cut Coal Underwriting, Investment: Liberty Mutual Insurance announced a new policy on coal underwriting and investment as it also named its first chief sustainability officer. Under its global policy on coal underwriting and investing, Liberty Mutual will ...
Date: December 13, 2019 04:20:51

Vermont Insurance Regulator Warns Over ‘Virtual Claims Adjustment’: The Vermont Insurance Division has issued a reminder to automobile insurers that they must by law perform in-person adjusting of a claim if the insured requests one. According to a bulletin issued by the division, two ...
Date: December 13, 2019 04:12:29

Axa Closes on Acquisition of Remaining Stake in Axa Tianping: Axa S.A. said it completed its acquisition of the remaining 50% stake in Axa Tianping Property & Casualty Insurance Co. Ltd. from the insurer’s domestic shareholders. The closing makes Axa Tianping the largest 100% ...
Date: December 13, 2019 03:58:34

IASB Adopts Changes to Accounting Exposure Draft, Delays Consideration of Extending Effective Date: The International Accounting Standards Board has adopted changes to the IFRS 17 exposure draft supported by the insurance industry, and delayed discussions until next year about extending the new standards’ effective date ...
Date: December 13, 2019 03:22:24

Pinnacle Actuarial Resources

Athene, Apollo Close on Purchase of GE’s Aircraft Lending Company: Apollo Global Management Inc., Athene Holding Ltd. and GE Capital, the financial services arm of GE, said they closed on a deal in which Apollo and Athene is buying PK AirFinance, an aviation lending business, from GE ...
Date: December 13, 2019 02:23:49

AM Best Affirms Credit Ratings of Grupo Nacional Provincial S.A.B.: AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent), the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” and the Mexico National Scale Rating of “aaa.MX” of Grupo Nacional Provincial S.A.B. (GNP) ...
Date: December 13, 2019 02:19:50

AM Best Revises Outlooks to Negative for Barents Re Reinsurance Company, Inc. and Its Affiliate: AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of Barents Re Reinsurance Company, Inc. (Barents Re) (Cayman ...
Date: December 13, 2019 02:19:22

AM Best Analyst: Innovation Not Just ‘Allocating Resources to New Technologies’: Innovation means developing new ideas and improving inefficiencies, not just spending on new technologies, said Carlos Wong-Fupuy, senior director for AM Best. He spoke with AM BestTV at the AM Best Insurance Market Briefing ...
Date: December 13, 2019 12:49:36

Governor Signs NY Bill Allowing Fewer Prior Authorizations for Health Care: New York Gov. Andrew Cuomo has signed legislation increasing exceptions to prior authorization and requiring health insurers to cover additional services and procedures related to invasive procedures, concurrent symptoms and ...
Date: December 13, 2019 12:45:09

AM Best Affirms Credit Ratings of Humboldt Re Limited: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Humboldt Re Limited (Humboldt Re) (Guernsey). The outlook of these Credit Ratings (ratings) remains ...
Date: December 13, 2019 11:42:09

AM Best Affirms Credit Ratings of Kelvin Re Limited: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-“ of Kelvin Re Limited (Kelvin Re) (Guernsey). The outlook of these Credit Ratings (ratings) remains ...
Date: December 13, 2019 11:41:17

Argo: Five Board Members to Retire; Annual Meeting Moved to March: Argo Group International Holdings Ltd. said its board of directors is undergoing a “proactive refreshment process” that will see five board members retire as of the company’s 2020 annual general meeting. The company is ...
Date: December 13, 2019 11:29:43

BestWeek: Observers Say Jury Awards Helping to Harden Medical Liability Market: Since the end of 2018 or so, most observers of the medical professional liability market thought signs indicated the long-lasting soft market was at the end of its cycle, according to the latest issue of BestWeek. Now, ...
Date: December 13, 2019 11:10:03

Topa Insurance Group CEO Resigns; Interim Is Named: Topa Insurance Group has named Michael Day as interim president and chief executive officer to succeed John Donahue. Day, a member of the Topa Insurance Group board of directors, will transition to his new role in ...
Date: December 13, 2019 10:52:33

AM Best Affirms Credit Ratings of East Africa Reinsurance Company Limited: AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” of East Africa Reinsurance Company Limited (EARe) (Kenya). The outlook of these Credit Ratings (ratings) is ...
Date: December 13, 2019 10:04:07

AM Best Upgrades Credit Ratings of Farmers Alliance Mutual Insurance Company and Its Subsidiaries: AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” from “a-” of Farmers Alliance Mutual Insurance Company and its wholly-owned subsidiaries, ...
Date: December 13, 2019 10:03:11

AM Best Withdraws Credit Ratings of Capital Life Insurance Company Limited: AM Best has affirmed the Financial Strength Rating of C- (Weak) and the Long-Term Issuer Credit Rating of “cc” of Capital Life Insurance Company Limited (CLI) (Papua New Guinea). The outlook of these Credit Ratings (ratings) ...
Date: December 13, 2019 10:03:11

AM Best Downgrades and Withdraws Credit Ratings of Capital General Insurance Company Limited: AM Best has downgraded the Financial Strength Rating to C (Weak) from C+ (Marginal) and the Long-Term Issuer Credit Rating to “ccc” from “b-” of Capital General Insurance Company Limited (CGI) (Papua New Guinea). The outlook ...
Date: December 13, 2019 10:02:38

AM Best Affirms Credit Ratings of Markel Corporation and Most Subsidiaries: AM Best has affirmed the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb+” of Markel Corporation (Markel) and all of its Long-Term Issue Credit Ratings (Long-Term IRs) and indicative Long-Term IRs (see below for a ...
Date: December 13, 2019 09:13:32

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