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| Below are announcements and news about Meadowbrook Insurance Group. Please also visit our Press Room here for more press releases and media contacts. |
August 2, 2011
A.M. Best Co. has affirmed the financial strength rating (FSR) of A- (Excellent)
and issuer credit ratings (ICR) of “a-” of Meadowbrook Insurance Group
(Meadowbrook) and its pooled members. A.M. Best also has affirmed the ICR of
“bbb-” of the publicly traded parent holding company, Meadowbrook Insurance
Group, Inc. (MIGI) (Southfield, MI) [NYSE: MIG]. The outlook for all ratings is
stable. (See below for a detailed listing of the companies.)
In its news release, A.M. Best stated: "These ratings reflect MIGI’s second quarter 2011 earnings announcement and take
into account Meadowbrook’s solid capitalization and the strength and consistency
of its underwriting and operating performance over the past five years.
Meadowbrook’s favorable financial results have been achieved through a
combination of selective growth, the application of strict underwriting
guidelines, strong cash flow and an increasingly diversified business mix over
the past several years. Despite Meadowbrook’s recent weather-related losses
(reported in second quarter 2011), A.M. Best expects the group to continue to
generate underwriting and operating profits for the remainder of the year".
(CLICK HERE TO DOWNLOAD THE PDF) |
July 29, 2011
In our world of specialized or segmented skills and markets, many independent agencies are
thriving by serving distinct, homogeneous classes of insureds. In time,
many of these areas of concentrations evolve into formal, carrier-underwritten
insurance programs.
There are many paths to program status. However,
in general, strong candidates for elevating a book of business to program status
will have a proven loss history and agency expertise in that class of business,
along with competitive market intelligence and an established distribution
system.
(CLICK HERE TO READ THE ARTICLE)
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December 23, 2010
Meadowbrook Insurance Group, Inc. (NYSE: MIG) announced today the affirmation of A.M. Best Company's financial strength rating of "A-" (Excellent) for Meadowbrook Insurance Group, Inc. ("Meadowbrook") and its subsidiary insurance companies. A.M. Best also affirmed the issuer credit rating for Meadowbrook of "bbb-" and its subsidiary insurance companies of "a-." The outlook for all ratings remains "stable." Meadowbrook’s financial size category is IX
In its news release, A.M. Best stated: "These ratings reflect Meadowbrook’s sustained underwriting profitability, excellent overall operating performance and supportive capitalization. A.M. Best recognizes Meadowbrook’s diversified business mix that strategically positions the group with a more balanced product and distribution platform and provides flexibility to move more effectively through market cycles."
Meadowbrook's President and Chief Executive Officer, Robert S. Cubbin, stated: "We are pleased that A.M. Best has affirmed our rating and has recognized our work to sustain our profitability and overall capitalization."
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January, 2010
Click here to read the PDF (not printable) reprint of the article: "Make Comp Work Now!" The sluggish economy will continue to temper loss ratios and pricing while innovations such as "Pay-as-you-go" will appeal to the industry. (CLICK HERE TO DOWNLOAD THE PDF) |
June 24, 2009
Meadowbrook Insurance Group, Inc. (NYSE: MIG) announced today the affirmation of A.M. Best Company's financial strength rating of A- (Excellent) for its subsidiary insurance carriers. A.M. Best also affirmed the issuer credit rating for Meadowbrook of "bbb-" and its subsidiary insurance carriers of "a-." The outlook for all ratings is stable. Meadowbrook’s financial size category is IX.
In its news release, A.M. Best stated: “These ratings reflect Meadowbrook’s sustained operating profitability, despite investment and catastrophe losses in 2008 and continued soft market conditions, its supportive capitalization and management’s expertise in both the specialty program business and alternative risk market."
Meadowbrook's President and Chief Executive Officer, Robert S. Cubbin, stated: "We are pleased that A.M. Best has affirmed our rating and has recognized our work to sustain profitability and overall capitalization.” |
SOUTHFIELD, MICH., The 2008 Annual Report is now available to download from any of these locations on our website:
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SOUTHFIELD, MICH., Meadowbrook Insurance Group, Inc. (NYSE: MIG) announced today the Company will be participating in Sidoti & Company's 13th Annual New York Emerging Growth Institutional Investor Forum, to be held on March 24 and 25, 2009. The conference will be held at The Grand Hyatt New York, located at Park Avenue at Grand Central Station.
Meadowbrook's President and CEO, Robert S. Cubbin, is scheduled to present at 11:35 a.m. EDT on Tuesday, March 24, 2009. Additionally, Mr. Cubbin will be joined at the conference by Meadowbrook's Chief Financial Officer, Karen M. Spaun.
Mr. Cubbin's presentation to the conference will be available March 24, 2009 on Meadowbrook Insurance Group's corporate web site at www.meadowbrook.com in the Presentations section. |
Meadowbrook Insurance Group, Inc. (NYSE: MIG) announced today that the Company will be participating in the FBR Capital Markets 2008 Fall Investor Conference, to be held on December 2 and 3, 2008. The conference will be held at The Grand Hyatt New York.
Meadowbrook's President and CEO, Robert S. Cubbin, is scheduled to present at 9:15 a.m. Eastern Standard Time on Wednesday, December 3, 2008. Additionally, Mr. Cubbin will be joined at the conference by Meadowbrook's Chief Financial Officer, Karen M. Spaun.
The webcast will be available here: WebCast Sign up |
President and CEO of Meadowbrook Insurance Group, Bob Cubbin was interviewed on Fox Business Monday, September 22nd, 2008. Follow the link below to visit the Fox Business website and view the video.
Fox Business Interview |
When Meadowbrook, the U.S.’s 20th-largest broker, and E&S wholesaler Century Surety Co. officially joined forces in July, the result was a combined business with an estimated $435 million pro forma book valuation and $700 million in premiums. Robert Cubbin, president and CEO of Meadowbrook, and Chris Timm, CEO of Century Surety Co., talk about what the merger means for agents who work with them.
Listen to this PodCast now
Washington State Commissioner's Race is 2004 Rematch; MIG Founder Merton J. Segal on Retirement
Listen To this PodCast Now
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Meadowbrook Insurance Group, Inc. (NYSE: MIG) announced today that the Company will be participating in the Keefe, Bruyette & Woods 2008 Investor Conference, to be held on September 3 and 4, 2008. The conference will be held at The Waldorf Astoria in New York, located on Park Avenue between 49th and 50th Streets.
Meadowbrook's President and CEO, Robert S. Cubbin, is scheduled to present at 10:25 A.M. (EDT) on Wednesday, September 3, 2008. Additionally, Mr. Cubbin will be joined at the conference by Meadowbrook's Chief Financial Officer, Karen M. Spaun.
Conference presentations will be webcast and can be viewed with the conference schedule at: http://www.kbw.com/news/conferenceInsurance.html .
The webcast will be available here: http://cc.talkpoint.com/KEEF001/090308a_ak/agenda.asp?day=Wednesday |
Meadowbrook Insurance Group, Inc. (NYSE: MIG), a specialty property and casualty insurance holding company based in Southfield, Michigan, announced today that the merger of ProCentury Corporation, a Columbus, Ohio-based specialty property and casualty insurance holding company has been finalized and closed.
Meadowbrook’s President and Chief Executive Officer, Robert S. Cubbin, stated: “We are pleased to have closed on the merger with ProCentury. The diverse products and distribution systems of our two specialty lines insurance companies will create opportunities and synergies that did not exist prior to the merger.”
Meadowbrook has long been known for its program expertise, while ProCentury has earned a reputation for an expansive and ever-growing portfolio of products in the excess and surplus lines markets. The combined strategy of the two companies is to create an organization that remains a full-service specialty lines company with a program focus that now offers full-service excess and surplus lines capabilities.
There are very few redundancies between the two firms. Meadowbrook’s programs and ProCentury’s products and wholesale agent distribution systems do not overlap, and the expertise in each organization will remain intact. There will also be very little in the way of integration challenges as the firms’ cultures, technology and commitment to customer service closely mirror one another’s.
Added Christopher J. Timm, President of Century Surety Company, “We look forward to joining the Meadowbrook family and the future opportunities and expertise this partnership will offer our team, agents, clients and the risk management industry.”
Subject to the terms of the Merger Agreement, each outstanding common share of ProCentury was converted into the right to receive either $20.00 in cash, or 2.500 shares of Meadowbrook common stock. Meadowbrook paid approximately $99.2 million in cash and issued approximately 21.2 million shares of Meadowbrook common stock, for a total purchase price of approximately $220.5 million, in exchange for the cancellation of all the outstanding common shares of ProCentury. Shareholders of ProCentury Corporation who have questions may call the Information Agent, The Altman Group, at (800) 499-6377.
Visit the Century Surety web site here: www.centurysurety.com |
In cooperation with the states of Illinois, Indiana and Iowa insurance departments
(and those of any additional states that may follow), the Meadowbrook Insurance
Group companies have implemented a moratorium on the cancellation and nonrenewal
of insurance policies for people who live in counties affected by the early June
2008 storms and flooding. The moratorium is presently for a 60 day period, but
which may be amended by one or more states, and applies to nonpayment of
premium, late payments and the extension of policy provisions with time limit
restrictions, as required by state order.
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