American Insurance Company Building

GoldenTree Asset Management Hires Head of North American Insurance

Retrieved on:

Monday, December 18, 2023

Asset Management, Professional Services, Insurance, Finance, GoldenTree Asset Management, Partner (business rank), CLO, PPLI, Multimedia, Partner, Goldman Sachs, Fuller, Private placement life insurance, Growth, Private, Spinal muscular atrophies, American Insurance Company Building, Financial services

GoldenTree Asset Management (“GoldenTree”), a global asset management firm with approximately $53 billion in assets under management, today announced the hiring of Charlie Fuller as Partner and Head of North American Insurance coverage, a newly created role.

Key Points:

GoldenTree Asset Management (“GoldenTree”), a global asset management firm with approximately $53 billion in assets under management, today announced the hiring of Charlie Fuller as Partner and Head of North American Insurance coverage, a newly created role.
He joins GoldenTree from Goldman Sachs, where he was a Managing Director and Head of Americas’ Institutional Insurance Client Business.
Fuller was also a founding member of Goldman Sachs’ Insurance Asset Management Business, and his leadership and deep relationships across the industry helped build it into one of the leading insurance asset management businesses in the industry.
View the full release here: https://www.businesswire.com/news/home/20231218247574/en/
Charlie Fuller, Partner and Head of North American Insurance (Photo: Business Wire)
Steve Tananbaum, GoldenTree’s Founder, Managing Partner and Chief Investment Officer, noted, “GoldenTree has managed capital for insurance companies for decades.

AM Best Affirms Credit Ratings of American Financial Group, Inc. and Its Key Operating Subsidiaries

Retrieved on:

Friday, December 15, 2023

Concurrently, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) and the Long-Term Issue Credit Ratings (Long-Term IRs) of American Financial Group, Inc. (AFG) [NYSE: AFG].

Key Points:

Concurrently, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) and the Long-Term Issue Credit Ratings (Long-Term IRs) of American Financial Group, Inc. (AFG) [NYSE: AFG].
The ratings of Great American Contemporary also reflect rating lift from the lead rating unit, Great American, based on historical support and services.
The ratings also reflect ratings lift from the lead rating unit, Great American, recognizing the historical support and services.
For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .

Gulf Island Resolves MPSV Litigation

Retrieved on:

Thursday, October 5, 2023

American Insurance Company Building, Fidelity, Risk, GIS, Hornbeck Offshore Services LLC v. Salazar, FDC, Uncertainty, Zurich Insurance Group, Shipbuilding, Gulf Islands

THE WOODLANDS, Texas, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Gulf Island Fabrication, Inc. (NASDAQ: GIFI) (“Gulf Island” or the “Company”), a leading steel fabricator and service provider to the industrial and energy sectors, today announced that its subsidiary, Gulf Island Shipyards, LLC (“GIS”), has resolved its lawsuit with Hornbeck Offshore Services, LLC (“Hornbeck”) relating to the construction of two multi-purpose supply vessels (“MPSV”).

Key Points:

THE WOODLANDS, Texas, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Gulf Island Fabrication, Inc. (NASDAQ: GIFI) (“Gulf Island” or the “Company”), a leading steel fabricator and service provider to the industrial and energy sectors, today announced that its subsidiary, Gulf Island Shipyards, LLC (“GIS”), has resolved its lawsuit with Hornbeck Offshore Services, LLC (“Hornbeck”) relating to the construction of two multi-purpose supply vessels (“MPSV”).
Further, Gulf Island, GIS, Fidelity & Deposit Company of Maryland (“FDC”) and Zurich American Insurance Company (together with FDC, “Zurich”), the issuer of the performance bonds for the MPSV contracts, entered into a binding term sheet relating to the settlement of Gulf Island and GIS’s obligations under the performance bonds and any indemnity agreements relating to such bonds.
In exchange, Gulf Island and Zurich will enter into a note agreement pursuant to which Gulf Island will pay Zurich $20.0 million, plus interest at a rate of 3.0% per annum, payable in fifteen equal annual installments commencing on December 31, 2024.
Gulf Island and GIS also agreed to release possession of the MPSVs to Zurich.

Aflac is the first insurance carrier approved to provide voluntary paid family leave insurance in Virginia

Retrieved on:

Tuesday, September 12, 2023

Aflac, Insurance, Situ, MetLife, Parental leave, Disability, Continental, Northcott Disability Services, Child, American Insurance Company Building, Commonwealth, CAIC, Health insurance

COLUMBUS, Ga., Sept. 12, 2023 /PRNewswire/ -- Aflac, a leading provider of supplemental health insurance in the U.S., is the first private insurance company approved to offer paid family leave insurance in the Commonwealth of Virginia.

Key Points:

COLUMBUS, Ga., Sept. 12, 2023 /PRNewswire/ -- Aflac, a leading provider of supplemental health insurance in the U.S., is the first private insurance company approved to offer paid family leave insurance in the Commonwealth of Virginia.
In April 2022, Virginia became one of the first states to enact a law enabling Virginia employers to purchase Paid Family Leave insurance for their employees from private insurance providers.
"Aflac is proud to be the first carrier approved to provide family leave insurance in the Commonwealth of Virginia, as part of their new voluntary Paid Family Leave insurance program.
Committed to paid leave, in 2021, Aflac was selected by the state of Connecticut to administer their mandatory paid family leave program.

AM Best Affirms Credit Ratings of Oxford Life Insurance Company and Its Subsidiaries

Retrieved on:

Wednesday, August 16, 2023

Insurance, Professional Services, Oxford Group, Good, AM Best, Oxford, ALL, U-Haul, Risk management, Credit, American Insurance Company Building, Medicare, FSR, AM, Growth, UHAL, News, Phoenix

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of Oxford Life Insurance Company (Oxford Life) (Phoenix, AZ), and its subsidiary, Christian Fidelity Life Insurance Company (Dallas, TX), which are collectively referred to as Oxford Group.

Key Points:

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of Oxford Life Insurance Company (Oxford Life) (Phoenix, AZ), and its subsidiary, Christian Fidelity Life Insurance Company (Dallas, TX), which are collectively referred to as Oxford Group.
Concurrently, AM Best has affirmed the FSR of B++ (Good) and the Long-Term ICR of “bbb” (Good) of North American Insurance Company (Madison, WI).
For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .

Great American Insurance Group Launches Salesforce Component for Equipment Finance

Retrieved on:

Tuesday, August 8, 2023

Professional Services, Business, Data Analytics, Technology, Insurance, Software, Finance, American Insurance Company Building, Equipment, Salesforce, Divisional patent application, Workflow, Management

Great American Insurance Group’s Specialty Equipment Division is pleased to announce the availability of an embedded coverage solution to equipment finance companies using Salesforce.

Key Points:

Great American Insurance Group’s Specialty Equipment Division is pleased to announce the availability of an embedded coverage solution to equipment finance companies using Salesforce.
“Equipment finance is investing in technologies that connect,” says Brendan Cronin, Divisional Assistant Vice President, Great American Specialty Equipment.
It made sense for us to offer a Salesforce component that delivers insurance placement and tracking into that flow.”
Cody Sanguinetti, CFLP, Divisional Assistant Vice President, Great American Specialty Equipment, adds, “Salesforce has become an important platform for the industry, and we’ve seen equipment finance companies use it to solve different needs from originations to service.
We saw an opportunity to help solve for insurance.”
The Salesforce component provides the following benefits for equipment finance companies:
Sanguinetti added, “We’ve had a great response from our clients.

SAFE TRAVEL? THERE'S AN APP FOR THAT. FREELY'S POPULAR INSURANCE AND SAFETY APP LAUNCHES IN THE U.S.

Retrieved on:

Tuesday, August 1, 2023

Insurance, Apple, American Insurance Company Building, Stafford Disaster Relief and Emergency Assistance Act, Partnership, Travel, Zurich Insurance Group, Safety, Marketing, Mobile phone, Android

SYDNEY, Aug. 1, 2023 /PRNewswire/ -- Freely, the innovative end-to-end travel insurance and safety app that has provided safety and confidence to Australian travelers since 2020, has announced its official launch in the United States. Underwritten by Zurich American Insurance Company, Freely evolved travel insurance from an optional extra to a valuable travel companion and makes travel insurance more accessible, flexible, and useful for travelers around the world.

Key Points:

Underwritten by Zurich American Insurance Company, Freely evolved travel insurance from an optional extra to a valuable travel companion and makes travel insurance more accessible, flexible, and useful for travelers around the world.
The demand for travel insurance has recently surged as more travelers have come to understand the value of comprehensive coverage.
The global travel insurance market, valued at $17 billion, is forecasted to experience exponential growth over the course of this decade.
Freely's state-of-the-art app meets this growing demand head on, providing an unmatched solution for travelers seeking peace of mind and safety.

AM Best Affirms Credit Ratings of Aflac Incorporated and Its Subsidiaries

Retrieved on:

Tuesday, July 25, 2023

These companies represent the life/health insurance subsidiaries of Aflac Incorporated (Aflac) (Columbus, GA) [NYSE: AFL] and are collectively referred to as Aflac Incorporated Group.

Key Points:

These companies represent the life/health insurance subsidiaries of Aflac Incorporated (Aflac) (Columbus, GA) [NYSE: AFL] and are collectively referred to as Aflac Incorporated Group.
Concurrently, AM Best has affirmed the Long-Term ICR of “a” (Excellent) and all existing Long-Term Issue Credit Ratings (Long-Term IR) of Aflac.
The ratings reflect Aflac Incorporated Group’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and very strong enterprise risk management (ERM).
For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .

Great American Insurance Group’s PolicySweet® Teams Up with Landy Insurance to Offer PolicySweet for Agents

Retrieved on:

Tuesday, July 25, 2023

Professional Services, Technology, Insurance, Finance, Software, Fintech, Small business, Policy, Business, Multimedia, American Insurance Association, Divisional patent application, Real estate appraisal, American Financial Group, American Insurance Company Building, Real estate, D.C

Great American Insurance Group’s PolicySweet, a digital insurance platform for small commercial customers, announced that it has teamed up with Landy Insurance.

Key Points:

Great American Insurance Group’s PolicySweet, a digital insurance platform for small commercial customers, announced that it has teamed up with Landy Insurance.
Landy is now part of the PolicySweet for Agents program, allowing agents to utilize the PolicySweet platform on Landy’s agency website.
The Professional Liability Division of Great American has worked with Landy for several years, and we are excited to build upon that existing relationship,” said Kristen Mielcarek, Divisional Vice President, Great American Alternative Distribution.
Policies are underwritten by Great American Insurance Company, Great American Assurance Company, Great American Alliance Insurance Company, and Great American Insurance Company of New York, authorized insurers in all 50 states and the D.C. To learn more about PolicySweet, visit PolicySweet.com .

Synchrony's Pets Best Expands Relationship with JAB's Independence Pet Group to Serve Growing Pet Insurance Industry

Retrieved on:

Wednesday, July 12, 2023

JAB, Insurance, Partnership, IPG, North American Pet Health Insurance Association, Parent, Pet, General agent, American Insurance Company Building, Growth, MGA, NYSE

STAMFORD, Conn., July 12, 2023 /PRNewswire/ -- Pets Best Insurance Services, LLC, a Synchrony (NYSE: SYF) solution and leader in pet health insurance, and JAB's Independence Pet Group ("IPG") announced today an expanded partnership with IPG's wholly owned subsidiary, Independence American Insurance Company ("IAIC"), whereby IAIC will provide comprehensive insurance underwriting services for Pets Best to meet the growing demand for pet insurance and the needs of four-legged family members and pet parents nationwide.

Key Points:

Partnership underscores increased demand for innovative, personalized and affordable pet insurance
STAMFORD, Conn., July 12, 2023 /PRNewswire/ -- Pets Best Insurance Services, LLC , a Synchrony (NYSE: SYF) solution and leader in pet health insurance, and JAB's Independence Pet Group ("IPG") announced today an expanded partnership with IPG's wholly owned subsidiary, Independence American Insurance Company ("IAIC"), whereby IAIC will provide comprehensive insurance underwriting services for Pets Best to meet the growing demand for pet insurance and the needs of four-legged family members and pet parents nationwide.
"At Pets Best, our commitment has always been, and remains, to offer pet parents the most comprehensive, personalized, and affordable pet health insurance coverage, and we are pleased to enhance our ability to do that through this expanded relationship with Independence American," said Melissa Gutierrez, senior vice president and general manager, Pets Best.
"We are thrilled to enter into this expanded partnership with Pets Best, which shares our commitment to provide the growing number of pet owners with industry-leading insurance products and services," said Lane Kent, CEO of Independence Pet Group, the parent company of IAIC.
"We look forward to growing our relationship and supporting Pets Best in providing comprehensive and personalized coverage solutions so owners can focus on enjoying their pets worry free."