Mercantile Bancorp, Inc. announced two of its wholly owned subsidiary banks were ranked in the American Bankers Association Journal among the top 100 U.S. community banks in return on average equity (ROAE) in 2008. Brown County State Bank, headquartered in Mt. Sterling, Ill., was ranked 12th nationwide in ROAE among non-subchapter S community banks and [...]
Penn Treaty American Corporation announced that two of its insurance subsidiaries, Penn Treaty Network America (”PTNA”) and American Network Insurance Company (”ANIC”) entered rehabilitation under orders issued by the Pennsylvania Commonwealth Court, effective January 6, 2009.
Under the Orders, PTNA and ANIC are placed under the statutory control of the Pennsylvania Insurance Department. The Orders [...]
A.M. Best Co. has revised the rating outlook to stable from negative of the financial strength ratings (FSR) and issuer credit ratings (ICR) of Assurant Inc. and its various life/health and property/casualty insurance subsidiaries. Concurrently, A.M. Best has downgraded the FSR to A- (Excellent) from A (Excellent) and ICRs to “a-” from “a” for Assurant’s [...]
A.M. Best Co. has taken various rating actions on the financial strength ratings (FSR) and issuer credit ratings (ICR) of the health maintenance organization (HMO) subsidiaries of WellCare Health Plans, Inc. (Please see below for a detailed listing of the companies and ratings.)
The companies’ Best’s public data (pd) ratings reflect a quantitative analysis of the [...]
A.M. Best Co. has removed all ratings from under review of Conseco, Inc. (Conseco) (Carmel, IN) [NYSE: CNO] and its core insurance subsidiaries. A.M. Best also has downgraded the issuer credit rating (ICR) and senior debt ratings to “b+” from “bb-” of Conseco. Concurrently, A.M. Best has affirmed the financial strength rating (FSR) of B+ [...]
A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength ratings (FSR), issuer credit ratings (ICR) and debt ratings of Coventry Health Care, Inc. (Coventry) (NYSE: CVH – News) (Delaware) and its subsidiaries. (See link below for a detailed listing of the companies and ratings.)
The negative outlook reflects Coventry’s [...]
Kingsway Financial Services Inc. announced that the operations of Southern United Fire Insurance Company (Southern United), based in Mobile, Alabama, will be consolidated with Hamilton Risk Management (Hamilton Risk), its subsidiary based in Miami, Florida. This is a further step in Kingsway’s strategic plan to ensure that synergies, cost reduction and operational efficiencies are achieved [...]
A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and issuer credit ratings (ICR) of “a-” of Employers Insurance Group (EMPLOYERS) and its two property/casualty pooling members, Employers Insurance Company of Nevada (EICN) and Employers Compensation Insurance Company (ECIC). Concurrently, A.M. Best has affirmed the ICR of “bbb-” of EMPLOYERS’ parent holding [...]
Health Net of the Northeast, Inc., a subsidiary of Health Net, Inc. announced that the National Committee for Quality Assurance (NCQA) has awarded an accreditation status of “Excellent” for service and clinical quality for Health Net of the Northeast’s commercial line of HMO and POS products in Connecticut, New Jersey and New York. The accreditation [...]
AXIS Capital Holdings Limited announced that the Company’s Board of Directors has appointed Thomas C. Ramey and Wilhelm Zeller to its Board as independent directors. Both will serve as Class II Directors.
Michael Butt, Chairman of AXIS Capital, said: “We are delighted to welcome Thomas C. Ramey and Wilhelm Zeller to AXIS Capital’s Board of Directors. [...]
