The long- and short-term ratings, including the “AA-” counterparty credit rating and insurer FSR, on the core operating entities of the Royal & Sun Alliance Group PLC were affirmed by S&P. The rating action came after a Jan. 18 announcement …
The “AA+” counterparty credit rating and FSR on Amica Mutual Insurance Co. was affirmed by S&P. The rating action is also applicable to the company’s subsidiaries Amica Lloyds of Texas and Amica Life Insurance Co. The outlook is stable.
The “C++” rating of American Independent Insurance Co. was placed under review with developing implications by A.M. Best. On Jan. 3, 2001, Arch Capital Group Ltd. announced that it had entered into an agreement to acquire all common stock of …
S&P affirmed the “A+” counterparty credit rating and FSR on W. R. Berkley Corp.’s (WRB) specialty operations. Companies affected by the action are Carolina Casualty Insurance Co., Admiral Insurance Co., Admiral Indemnity Co., Nautilus Insurance Co. and Great Divide Insurance …
The “BBBpi” financial strength rating (FSR) on Northwestern National Casualty Co. (NNCC) was affirmed by S&P. The company primarily underwrites automobile damage and liability coverage for the commercial auto and private markets, and is ultimately controlled and owned by Highlands …
The ratings on Markel Corp. and related entities were placed on CreditWatch with negative implications by S&P, which cited concerns about prospective earnings, capitalization and leverage at the holding company, Markel Corp., as key factors in the rating action. S&P …
The “AApi” rating on Traveler’s Lloyd’s Insurance Co. was affirmed by Standard & Poor’s (S&P). The Hartford, Conn.-based, Texas-domiciled company writes mainly commercial lines. The company is a 100 percent reinsured subsidiary of Travelers Indemnity Co. of America, which is …
Following SAFECO Corp.’s recent announcement indicating the recording of an operating loss for the fourth quarter 2000, all ratings of that company and its subsidiaries were placed on Watch Negative by Fitch. Property/casualty companies affected by the rating action are: …
Frontier Insurance Group Inc. has voluntarily withdrawn from the scheduled appeal of its delisting from the New York Stock Exchange. The company’s stock has been trading under $1 a share since June of 2000 and is currently valued around 15 …
As part of a Washington coalition of insurers, banks and retailers, the National Association of Independent Insurers (NAII) spoke out against a privacy bill that the organization maintains would exceed the federal standard of Gramm-Leach-Bliley. NAII Local Counsel Melvin Sorensen, …
