Golden Eagle to Quit California

Golden Eagle Insurance Company, a multi-line, regional property-casualty insurer, licensed in California and Arizona, is reportedly leaving the California workers' compensation market. Golden Eagle, a member of Liberty Mutual Group and rated "A+" (Superior) by A.M. Best Company, markets through independent agents. The company sent a memorandum to its agents advising that due to its inability to overcome a 123% loss ratio and the difficult market California presents, it will cease writing new business in the state as of 8/1, and will not renew existing business.Golden Eagle commenced busines...