The “AA-” insurer FSR on Factory Mutual Insurance Company (FM Global) was affirmed by Fitch. Also, Fitch assigned an “AA-” insurer FSR to FM Global’s Appalachian Insurance Company (Appalachian Insurance) and Affiliated FM Insurance Company (Affiliated FM) subsidiaries. The prognosis …
S&P removed from CreditWatch and affirmed the “A-” counterparty credit and FSR for Folksamerica Reinsurance Co. (FRC). The ratings had been registered on CreditWatch with negative implications Jan. 19, 2000. The outlook is negative. The ratings highlight FRC’s very strong …
The “BBpi” FSR on Ocean Harbor Casualty Insurance Co. (OHCIC) was affirmed by S&P, which cited the company’s volatile premium revenue and operating performance as major rating factors. Those negative factors were partially offset by OHCIC’s adequate capitalization. The company, …
A.M. Best placed the “B++” FSRs of Acceptance Casualty Insurance Company and Acceptance Indemnity Insurance Company under review with negative implications. The rating move comes after an announcement by Acceptance Insurance Companies Inc. (Acceptance) that they have entered a definitive …
Sable Insurance Company received an “R” FSR from S&P. The company was placed into conservation in May by the California Department of Insurance, relating to an insolvency of more than $12.9 million. A subsidiary of Reliance National Indemnity Co. and …
Fitch has downgraded the insurer financial strength (IFS) ratings for the members of Fairfax Insurance Group to “A-” from “A” and the senior debt rating of the parent holding company, Fairfax Financial Holdings Ltd. to “BBB-” from “BBB.” The IFS …
Pacific Specialty Insurance Co. had its counterparty credit and FSR changed by Standard & Poor’s (S&P) from “Bpi” to “BBpi.” The rating move reflects Pacific Specialty’s better capitalization, favorable loss reserve development, and continued positive operating results, somewhat offset by …
Despite recent reports, Lloyd’s hasn’t made any decision as to whether it will exit the captive market. The issue is under study as part of an overall review of Lloyd’s operations, due to be presented in October. Lloyd’s spokesman Adrian …
A recent Conning & Company survey of insurance agents and brokers across the U.S. indicates that price increases have continued to accelerate and are in double-digit territory for most commercial lines. In addition, there is evidence in the distribution of …
Capitalizing on CNA’s underwriting skills and MarketScout’s eInsurance distribution system, the two companies will provide independent agents access to an array of CNA products via MarketScout’s portal at www.marketscout.com. CNA will be posted as the “Best of Class” insurer for …
