Business Moves

Engle Martin & Associates

Engle Martin & Associates Inc., a national independent insurance adjusting and claims administration firm based in Atlanta, is extending its presence in California by opening a Sacramento office to cover the northern part of the state.

The new office, in Rocklin, Calif., will be led by National General Adjuster Jerald L. Griffin.

Sacramento was targeted by Engle Martin as a growth market where there is a substantial presence of insurance carriers, brokers, agents and risk management professionals, the company indicated. “Building upon our presence in Los Angeles, the northern California office will help us service claims from Reno to San Francisco,” said Kevin L. Engle, chairman and CEO.

Griffin has worked for Philadelphia Insurance Co., Hartford Insurance Co., Continental Insurance, Tokio Marine Insurance, and others. He has participated in the Central California Claims Association and Sacramento Property Forum, and previously was a member of the Inland Marine Underwriters Association of Southern California and the Marine Underwriters of San Francisco.

Lawson-Hawks, Stephens and Long Insurance Brokerage

Lawson-Hawks Insurance Associates has acquired the Stephens and Long Insurance Brokerage in San Francisco. Stephens and Long was founded in 1925 as an independent insurance brokerage and has a presence in the San Francisco Bay area insurance and risk management marketplace.

Founded in 1937, Lawson-Hawks is a national independent insurance brokerage that provides risk management, commercial and personal lines insurance, association programs, retirement planning and employee benefits. Lawson-Hawks maintains regional offices in San Francisco, Sacramento, Monterey and Los Angeles.

S&P, A.M. Best, Assurant, Dongbu (U.S.)

Standard & Poor’s Ratings Services affirmed its ‘BBB+’ counterparty credit rating on Assurant Inc., removed it from CreditWatch negative, and assigned a negative outlook. S&P also affirmed its ‘A’ counterparty credit and financial strength ratings on Assurant’s subsidiaries, removed their ratings from CreditWatch, and assigned a negative outlook.

“These ratings actions reflect our assessment that the uncertainties related to the unresolved SEC investigations into certain loss-mitigation insurance products are unlikely to cause a change in the existing ratings,” indicated S&P Credit Analyst Shellie Stoddard. Stoddard added that S&P had nevertheless “assigned a negative outlook reflecting our concerns about the distraction and performance impact that may occur from the governance issues given that three senior managers are involved.”

A.M. Best Co. assigned a financial strength rating of ‘A-‘ and an issuer credit rating of “a-” to Hawaii-based Dongbu Insurance Co. Ltd. (USB), in line with that of its parent, Dongbu Insurance Co. Ltd. The outlook for both ratings is stable.

“The extension of the rating to the U.S. branch takes into consideration the explicit guarantee that all of the assets of the home office company are available in the event of a liquidation of the branch,” Best explained.