MAPFRE Q1 Results: Total Revenue Tops $8.8 Billion, Latin American Growth

, an 11.5 percent increase compared to Q1 2011, “thanks to sustained growth of the international business,” the report noted. Recurring results grew by 3.7 percent, to

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Gonzalez to Head New A.M. Best Miami Office for Latin American Business

May 8, 2012Email ThisPrintNewslettersTweetArticleComments

A.M. Best Co. announced that it has opened an office in Miami, Florida “to serve the growing market for insurance ratings in the Latin American region. Rating analytics for Latin American companies will continue to be performed by teams based in Oldwick, New Jersey.” Best opened an office in Dubai, UAE earlier this year. Miami is its fifth global office location.

Best has appointed Jorge A. Gonzalez to manage the office, which is located on the 9th floor, 1221 Brickell Avenue in Miami.  He is an “insurance and reinsurance veteran who has worked and resided in Latin America and Miami for decades,” said Best.

Gonzalez reports to Tina Bukow-Truman at Best’s corporate headquarters in Oldwick, New Jersey. The Miami office will be used for management meetings and other activities focused on the Latin American (re)insurance markets.

Best’s Executive Vice President Larry Mayewski noted: “With the increasing focus on solvency and enterprise risk management, we have seen a growing awareness of the importance of insurance ratings worldwide. The rapidly expanding insurance markets in South America, Central America and related regions command an increasing portion of our attention and resources.”

Best announced that it will also host its inaugural

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PGI Acquires N.Y.-Based Program Administrator American Altair Group

May 14, 2012Email ThisPrintNewslettersTweetArticleComments

PGI Commercial, the U.S. program manager of Bermuda-based insurance distributor Primary Group, has acquired the assets American Altair Group.

American Altair Group (AAG), based in Hauppauge, N.Y., is a full-service program administrator that specializes in commercial real estate risks. AAG has significant representation in New York, New Jersey and Pennsylvania. PGI Commercial said AAG’s book of business will further complement PGI’s existing book of real estate business which is primarily West Coast-based.

PGI Commercial manages property and casualty programs on a nationwide basis with offices in Naples, Fla., Marlton, N.J., and Anaheim, Calif.

The AAG deal is part of PGI Commercial’s strategy of building out its underwriting platforms. PGI Commercial said the acquisition of AAG will give PGI a strong presence in the Northeast and particularly in the commercial real estate sector.

John Ustaoglu, current president of AAG, will join PGI Commercial as executive vice president and will continue to be based out of Hauppauge, N.Y., with his existing team.

 

Email ThisPrintNewslettersTweetCategories: East NewsTopics: American Altair Group, Business Moves & Mergers, PGI CommercialHave a hot lead? Email us at newsdesk

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Great American Environmental Division Expands Capacity

April 13, 2012Email ThisPrintNewslettersTweetArticleComments

Great American Insurance Group’s Environmental Division is now offering $35 million per occurrence/ $70 million policy aggregate limits of liability for its complete pollution product line. These expanded limits of liability will be offered on both a primary and an excess of loss basis.

Great American’s environmental liability products and expanded capacity are available to retail and wholesale brokers throughout the U.S. and Canada. Great American’s Environmental Division offices are located in Plymouth Meeting, Pa., San Francisco, and New York, its newest location.

 

Email ThisPrintNewslettersTweetCategories: National NewsTopics: capacity, Environmental, Markets/CoveragesHave a hot lead? Email us at newsdesk

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Great American Insurance Group Opens Regional Office in New York

April 3, 2012Email ThisPrintNewslettersTweetArticleComments

Great American Insurance Group’s environmental division opened a regional office in New York City.

The expansion complements the environmental division’s home office located in Plymouth Meeting, Penn., and its regional office in San Francisco.


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