The Second Judicial Circuit Court in Leon County, Florida ordered National Group Insurance Company, a subsidiary of Hato Rey’s embattled National Insurance Company, into receivership earlier this week, News is my Business learned.
San Juan-based Syndicate Holding Corp. is buying HSBC Holdings PLC’s United Kingdom motor vehicle insurance division for $110 million in cash, the latter company announced Monday.
MCS-HMO, the private company that for the past nine months managed MI Salud health benefits throughout most of the island, presented documentation Monday confirming it is owed $242.6 million in payments and premiums by the Health Services Administration, known as ASES in Spanish.
Nine months after being selected to participate in the government’s public healthcare program, insurance provider MCS has reportedly walked away in a move that could affect more than 800,000 beneficiaries.
Insurance provider Medical Card Systems Inc. recently completed a $600,000 investment to open three new customer service offices in Bayamón, Vega Alta and Naranjito that will benefit a combined 342,000 insured customers along the northern-central region, company officials said.
Despite the fact that the San Juan Superior Court placed National Insurance Corp. under trusteeship this week, the company’s interim management is giving employees and affiliated insurance agencies a positive outlook on the situation.
A month after insurance rating agency A.M. Best Co. downgraded National Insurance Company’s financial standing, the Office of the Puerto Rico Insurance Commissioner has stepped in to intervene with the insurance provider’s operations.
Health insurance provider MCS is expanding the scope of its Wellness Institute initiative to include more businesses looking to establish in-house programs to promote health in their workplaces. At present, there are 50 companies participating in the MCS program launched in November 2010.
Putting an end to what seemed to be a pretty open secret, Triple-S Management Corp. on Tuesday announced that its subsidiary Triple-S Salud Inc. will purchase American Health Inc.’s parent company, for some $82 million in cash.
Insurance ratings agency A.M. Best on Wednesday revised its outlook on Cooperativa de Seguros de Vida de Puerto Rico (known as Cosvi for its acronym in Spanish), to positive from stable and affirmed the company's financial strength rating of B- (Fair) and issuer credit rating of “bb-."
The Puerto Rico Chamber of Commerce and the University of Miami's School of Business Administration on Tuesday announced a partnership to co-host the Puerto Rico Health & Insurance Conference 2011 "A New Economy in Health Care," on Feb. 2.
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