Minnesota Life Insurance and Securian Life Insurance Co. appear to have weathered the economic downturn, leading a key ratings service to revise their outlooks to “stable.”

Rockingham Casualty Co, based in Harrisonburg, Va., had its financial strength rating and issuer credit rating upgraded after it became a fully reinsured affiliate of Rockingham Mutual Insurance Co.

Massachusetts-based The Hanover Insurance Group announced it has completed its deal to acquire the Campania Group in a move it says “demonstrates our strong commitment to the healthcare business.”

The owners of the mine in West Virginia where rescuers are searching for four missing miners and where 25 miners already were killed in an explosion April 5 did not obtain business interruption insurance.

A niche insurance company based in Elizabethtown, Pa. had its ratings outlook reduced to “negative” after a ratings service expressed concerns about its limited profitability over the last few years amid an increasingly competitive market.

The Manhattan Life Insurance Co., based in Great Neck, N.Y., had its outlook revised to “negative,” from “stable,” by A.M. Best after the ratings service noticed a “noticeable drop” in the risk-adjusted capital position of its lead company.

Blue Cross & Blue Shield of Rhode Island will pay $1.8 million in restitution and a record fine of $325,000 through an agreement with state regulators over how it “misinterpreted” the way health status should be calculated.

The parent company of Old Mutual Life Insurance Co. and its subsidiary, OM Financial Life Insurance Co. of New York, said today (March 11) it is considering selling off both companies.

American International Group agreed to sell its Asian life insurance business for $35.5 billion, making it one of the largest insurance deals in history.

The life insurance sector is the darling among its financial service peers, according to a new analysis from A.M. Best.