Fitch Ratings has downgraded Pacific LifeCorp’s (PLC) senior unsecured debt rating to ‘A-’ from ‘A’ and the Insurer Financial Strength (IFS) ratings of PLC’s primary life insurance subsidiaries to ‘AA-’ from ‘AA’. In addition, the commercial paper (CP) program of Pacific Life Insurance Company (PLIC) was affirmed at ‘F1+’. See complete list of rating actions [...]
Pacific Life recently added two new investment options to its offerings for variable universal life insurance policyowners. The addition of the Mid-Cap Value Portfolio and the American Funds Asset Allocation Portfolio expands the breadth and depth of the investment options lineup and variable life insurance policyowners can now choose from 59 investment options.
American Funds Asset [...]
A.M. Best Co. has downgraded the financial strength rating (FSR) to B (Fair) from B+ (Good) and issuer credit rating (ICR) to “bb” from “bbb-” of Surety Company of the Pacific (SCP) (Encino, CA). Both ratings have been placed under review with negative implications.
The ratings downgrade is due to the continued and substantial decrease in [...]
After a successful pilot venture last spring and summer, PEMCO Insurance and Pacific Science Center again are offering free bus rides to Seattle-area school children, enabling them to take field trips to the region’s premier educational science and technology museum.
Rising transportation costs have impacted many schools’ ability to transport students on field trips, but the [...]
ING announced today that it has become a platinum sponsor of the annual gala of the Asian and Pacific Islander American Scholarship Fund, the country’s largest non-profit organization devoted solely to providing scholarships for Asian and Pacific Islander Americans. The organization’s annual gal, Today’s Minds, Tomorrow’s Future® Gala, took place last night in New York [...]
Zurich North America Commercial’s Accident & Health (A&H) group and Presidio Reinsurance Group announced today their formation of a strategic relationship to provide a broad range of risk-relief programs to the health care market.
As industry leaders with a long-term commitment to the accident and health industry, Zurich and Presidio will leverage their extensive portfolio of [...]
Sapiens International Corporation N.V.a leading global provider of innovative business solutions that modernize business processes and enable insurance organizations to adapt quickly to change, and a member of the Formula (NASDAQ: FORTY and TASE: FORT) Group, today announced that further to its announcements on June 4, 2009 and June 17, 2009, respectively, the Chief Scientist [...]
NERA Economic Consulting, a leading global provider of economic advice and analysis in business, legal, and regulatory matters, today released Snapshot of Recent Trends in Asbestos Litigation, a report analyzing trends in asbestos filings and settlements, in light of legislative and judicial tort reform over the past several years.
The report, co-authored by NERA Senior Vice [...]
Fire season is here, and with dry weather comes the threat of wildfires. That is why Farmers Insurance and FireSafe Montana will conduct a first-ever press conference in front of the State Capital on June 18, 2009 at 10:00 a.m. to announce Fire Prevention Week in Montana.
“The purpose of the Fire Prevention Week is to [...]
Farmers Insurance Group of Companies announced that it will build two new buildings totaling 275,000 square feet on the existing grounds of Farmers Insurance office facilities located in Caledonia. This development is thanks in part to an attractive incentives package offered by the Michigan Economic Development Corporation (MEDC). The expansion will create a significant number [...]
