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The firm said it also lowered the long-term counterparty credit rating on GMAC's mortgage finance subsidiary, Residential Capital LLC, to "CCC-minus" from "CCC-plus," and said both parent and subsidia

The agreement provides Maiden with rights to offer renewal quotations on business currently existing with GMAC RE. Maiden anticipates targeting business that will be underwritten and rated in accordan

The agreement provides Maiden with rights to offer renewal quotations on business currently existing with GMAC RE. Maiden anticipates targeting business that will be underwritten and rated in accordan

The Hanover Insurance Group Inc. has named Gary Y. Kusumi president of the company's personal lines business. Kusumi will be responsible for personal lines operations, including products, pricing, service, underwriting strategies, growth and

Mr. Kusumi, 61, will be responsible for the company's personal lines operations, including products, pricing, service and underwriting strategies, as well as growth and profitability. He will work out

Mr. Kusumi, 61, will be responsible for the company's personal lines operations, including products, pricing, service and underwriting strategies, as well as growth and profitability. He will work out

GMAC Insurance--whose parent, GMAC Financial Services, recently reported a second quarter net loss of $2.5 billion--has stopped using independent agents to write business in three states and cut back

For its annual report, The Ward Group, which provides consulting, industry benchmarking, and best practices services for the insurance industry, analyzed the financial performance of more than 3,000