QBE Insurance Group acquires Optima Insurance Group
December 21, 2011
QBE Insurance Group announced Wednesday it has agreed to acquire Optima Insurance Group, an underwriting group in Puerto Rico that posted an estimated $100 million in gross written premium in 2011. The financial terms of the deal were not revealed.
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European economic woes affect MAPFRE PRAICO’s credit rating
December 19, 2011
The continued deterioration of European credit has reached Puerto Rico’s insurance market, with the recent decision by reputed insurance industry rating agency, A.M. Best to place the ratings of MAPFRE PRAICO Group and its members under review with negative implications.
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Management shakeup at MCS, Juliá out
December 13, 2011
Three high-ranking executives — President Julio Juliá, Mark Rishell and Javier Magriná — have left Medical Card Systems Inc., the company’s board of directors announced Tuesday.
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