Insurance

AM Best Affirms Credit Ratings of Essent Group Ltd.’s Operating Subsidiaries

Friday, September 18, 2020 - 10:04pm

AM Best has affirmed the Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of a of the operating subsidiaries of Essent Group Ltd., which are Essent Guaranty, Inc., Essent Guaranty of PA, Inc. (both domiciled in Radnor, PA) and Essent Reinsurance Ltd. (Bermuda) (collectively referred to as Essent).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of a of the operating subsidiaries of Essent Group Ltd., which are Essent Guaranty, Inc., Essent Guaranty of PA, Inc. (both domiciled in Radnor, PA) and Essent Reinsurance Ltd. (Bermuda) (collectively referred to as Essent).
  • The application of the COVID-19 stresses on Essents book of business broadly follows the guidelines in AM Bests criteria procedure, Catastrophe Analysis in AM Best Ratings.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Bests Credit Ratings .
  • For information on the proper media use of Bests Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Bests Credit Ratings and AM Best Rating Action Press Releases .

Galapagos increases share capital through subscription right exercises

Friday, September 18, 2020 - 9:01pm

Mechelen, Belgium; 18 September 2020, 22.01 CET; regulated information Galapagos NV (Euronext & NASDAQ: GLPG) announces a share capital increase arising from subscription right exercises.

Key Points: 
  • Mechelen, Belgium; 18 September 2020, 22.01 CET; regulated information Galapagos NV (Euronext & NASDAQ: GLPG) announces a share capital increase arising from subscription right exercises.
  • Galapagos issued 86,280 new ordinary shares on 18 September 2020, for a total capital increase (including issuance premium) of 2,403,087.
  • Pursuant to the subscription right exercise program of Galapagos management board, members of the management board automatically are committed to exercise a minimum number of subscription rights, subject to certain conditions.
  • In accordance with the rules of this program, CEO Onno van de Stolpe exercised 15,000 subscription rights.

AM Best Affirms Credit Ratings of MGIC Investment Corporation’s Operating Subsidiaries

Friday, September 18, 2020 - 9:27pm

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of a- of operating subsidiaries of MGIC Investment Corporation.

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of a- of operating subsidiaries of MGIC Investment Corporation.
  • The operating subsidiaries are Mortgage Guaranty Insurance Corporation, MGIC Indemnity Corporation, MGIC Assurance Corporation and MGIC Reinsurance Corporation of Wisconsin (collectively referred to as MGIC).
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .
  • For information on the proper media use of Bests Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Bests Credit Ratings and AM Best Rating Action Press Releases .

AM Best Places Credit Ratings of MGA Insurance Company, Inc. Under Review With Positive Implications

Friday, September 18, 2020 - 9:12pm

AM Best has placed under review with positive implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of bbb of MGA Insurance Company, Inc. (MGA) (Dallas, TX).

Key Points: 
  • AM Best has placed under review with positive implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of bbb of MGA Insurance Company, Inc. (MGA) (Dallas, TX).
  • The Credit Rating (rating) actions and positive implications reflect the recent announcement that State Farm Mutual Automobile Insurance Company will be acquiring MGA.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .
  • For information on the proper media use of Bests Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Bests Credit Ratings and AM Best Rating Action Press Releases .

AM Best Affirms Credit Ratings of Central States Indemnity Co. of Omaha and CSI Life Insurance Company

Friday, September 18, 2020 - 8:37pm

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of aa- of Central States Indemnity Co. of Omaha (CSI), and its subsidiary, CSI Life Insurance Company (CSI Life).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of aa- of Central States Indemnity Co. of Omaha (CSI), and its subsidiary, CSI Life Insurance Company (CSI Life).
  • CSI is a specialty insurance company that provides credit card credit insurance and has fronting agreements with multiple insurers.
  • CSI currently writes, on a gross basis, more non-credit insurance premiums compared with its long-standing credit insurance business.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .

Triple-I Offers 3 Key Claims-Filing Tips to U.S.'s Wildfire Victims

Friday, September 18, 2020 - 7:39pm

Your insurance professional will report the loss immediately to your insurer or to a qualified adjuster who will contact you to arrange an inspection of the damage.

Key Points: 
  • Your insurance professional will report the loss immediately to your insurer or to a qualified adjuster who will contact you to arrange an inspection of the damage.
  • Make sure you give your insurance professional a telephone number, preferably a cellphone, where you can be reached.
  • Vehicles damaged by fire, smoke, and soot are covered under the optional comprehensive portion of an auto insurance policy.
  • Nearly four out of five vehicle owners (78 percent) opt to purchase comprehensive coverage, according to the National Association of Insurance Commissioners (NAIC).

Charles Taylor Expands U.S. Engineering and Technical Services Practice with the Acquisition of SBSA, Inc.

Friday, September 18, 2020 - 7:35pm

The addition of SBSA significantly expands and strengthens Charles Taylors engineering capabilities in the U.S., said Rob Brown, Group CEO, Charles Taylor.

Key Points: 
  • The addition of SBSA significantly expands and strengthens Charles Taylors engineering capabilities in the U.S., said Rob Brown, Group CEO, Charles Taylor.
  • SBSA allows us to provide high-quality broad-based engineering and technical support to our clients, from design, testing, and repairs, to forensic investigations and litigation support.
  • SBSAs clients will have access to Charles Taylors full suite of global claims management, technical services, and technology solutions.
  • Charles Taylor is a global provider of professional services and technology solutions dedicated to enabling the global insurance market to do its business fundamentally better.

Anthem Announces Solar Power Purchase Agreement to Move Company Closer Towards 100 Percent Renewable Energy Goal

Friday, September 18, 2020 - 7:13pm

In 2019, Anthem, Inc. (NYSE: ANTM) made the commitment to invest in and source 100 percent renewable energy by 2025.

Key Points: 
  • In 2019, Anthem, Inc. (NYSE: ANTM) made the commitment to invest in and source 100 percent renewable energy by 2025.
  • As a key step in that strategy, Anthem has announced it has signed a 15-year power purchase agreement with SunEnergy1, a top U.S. solar developer, owner and operator of utility-scale solar projects.
  • Anthem expects the solar field developments to generate enough renewable electricity to power all Anthem offices and data centers across the country.
  • It's good to see employers like Anthem choose renewable energy, and we congratulate them on being part of the solution."

The Orogen Group and Westcor Land Title Insurance Company Sign Definitive Agreement: Orogen Acquires Majority Stake

Friday, September 18, 2020 - 7:13pm

The Orogen Group (Orogen) and Westcor Land Title Insurance Company (Westcor) today announced a definitive agreement in which Orogen will acquire a majority stake in Westcor, the nations largest privately-held title insurance company with an extensive independent agent network and an A (A Double-Prime) Financial Stability Rating (FSR) from Demotech Inc.

Key Points: 
  • The Orogen Group (Orogen) and Westcor Land Title Insurance Company (Westcor) today announced a definitive agreement in which Orogen will acquire a majority stake in Westcor, the nations largest privately-held title insurance company with an extensive independent agent network and an A (A Double-Prime) Financial Stability Rating (FSR) from Demotech Inc.
  • Westcors world-class management team is committed to providing exceptional support and service to independent title agents and other participants in the title insurance process.
  • Westcor Land Title Insurance was founded by agents for the purpose of bringing innovative solutions to the title insurance agency market.
  • Westcor Land Title Insurance Company is rated B+ (Sound Financials) by Kroll and A (A Double Prime) by Demotech Rating Inc. Based in Maitland, FL, Westcor has regional offices throughout the United States.

KBRA Releases Research – The Graying of Japan and ESG Credit Implications

Friday, September 18, 2020 - 5:00pm

Environmental, Social and Governance (ESG) Considerations by Sector: Sovereigns

Key Points: 
  • Environmental, Social and Governance (ESG) Considerations by Sector: Sovereigns
    KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.
  • In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) with the European Securities and Markets Authority (ESMA).
  • Kroll Bond Rating Agency Europe is located at 6-8 College Green, Dublin 2, Ireland.