With a focus on supporting preventive medicine programs and expediting the use of electronic medical records, insurance industry veteran Pablo Almodóvar-Scalley will take over the helm of Triple-S Salud effective Oct. 1.
Chicago-based Hub International Limited announced it has entered into a definitive agreement to acquire full service insurance brokerage firm Carrión, Laffitte & Casellas Inc. for an undisclosed amount.
Triple-S Management Corporation, Puerto Rico’s largest managed care company announced Wednesday consolidated revenue of $623 million and operating income of $24.2 million for the three months ended June 30, 2012.
Eight months after entering the Puerto Rico market, Multinational Insurance Company has received a favorable review from prestigious credit ratings agency A.M. Best Co.
Cooperativa de Seguros de Vida de Puerto Rico is being closely watched by A.M. Best Co., which on Friday confirmed it has downgraded the operation’s financial strength rating to C++ (Marginal) from B- (Fair) and issuer credit rating to “b” from “bb-.”
Five months after entering Puerto Rico's insurance market, Multinacional de Seguros is laying the groundwork to establish itself as a contender in the highly competitive $8 billion economic sector.
Believing there is “uncertainty surrounding Cooperativa de Seguros de Vida de Puerto Rico’s ability to generate consistent and sustainable positive earnings from its core lines of business,” respected insurance industry monitor A.M. Best Co. has revised the company’s outlook to stable from positive and affirmed the financial strength rating of B- (Fair) and issuer credit rating of “bb-.”
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.
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.
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.
Changes in federal regulations and the impact of the newly created Consumer Financial Protection Bureau on the local banking industry will be discussed for the next two days during the fifth edition of the “Minority Depository Training Seminar” co-sponsored by the Puerto Rico Bankers Association and the Federal Deposit Insurance Corporation.
Six months after the San Juan Superior Court placed National Insurance Corp. under trusteeship, employees were told Wednesday the operation has been sold to Venezuela’s Multinacional de Seguros C.A., News is my Business has learned.
Point Guard Insurance Agency, a new player in the compulsory auto liability insurance policy market, is vowing to take over a considerable portion of the market by offering a better service structure and more efficient claims processes than the incumbent Compulsory Insurance Joint Underwriters Association, or ASC.
Two days after ratings agency A.M. Best downgraded its ratings, National Life Insurance Company announced its operational results for the first six months ended June 30, reporting $4.5 million in net revenue.
For the second time this year, A.M. Best Co. has downgraded National Life Insurance Company’s ratings, this time to C++ (Marginal) from B- (Fair) and issuer credit rating to “b” from “bb-.” The agency left the door open to further downgrades Friday.
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