A.M. Best Co. has lowered the senior debt ratings of The Chubb Corporation, Chubb Capital Corporation and Chubb Executive Risk Inc. to “aa-” from “aa”. The debt issued by Chubb Capital and Chubb Executive Risk is guaranteed by The Chubb …
Standard & Poor’s has removed from CreditWatch its counterparty credit rating on The Hartford Financial Services Group Inc. and lowered it to ‘A-‘ from ‘A’ because of concerns about trends in the retirement and savings sector as well as the …
Bermuda-based PartnerRe Ltd. has filed a registration statement with the Securities and Exchange Commission to sell an additional $386 million worth of mixed securities. Together with the $214 million worth of securities that remain unsold from a previous filing, the …
The Netherlands ING Group has sold 36 million shares, about 1.8 percent of the total outstanding, at approximately 18.50 Euros per share, raising around $666 million in additional capital. (The dollar and the Euro are currently of equal value) The …
The St. Paul at Lloyd’s announced the launch of Syndicate 5000, its newly created corporate syndicate that will specialize in underwriting non-life business at Lloyd’s on behalf of The St. Paul Companies beginning in the year 2003. Syndicate 5000 succeeds …
Moody’s Investors Service has affirmed Cincinnati Financial Corporation’s (CINF) A2 senior debt rating and its Aa3 insurance financial strength rating of the company’s property & casualty subsidiaries with a stable outlook. It cited the company’s sound balance sheet, its sizable …
Standard & Poor’s Ratings Services announced that it has lowered its counterparty credit and financial strength ratings on American Growers Insurance Co. (AGIC) to ‘R’ from ‘CC’, and removed the company from CreditWatch following the order of supervision issued by …
Boston-based Liberty Mutual Group announced that its subsidiary, Liberty International, has signed an agreement to acquire Winterthur’s Portuguese business units and branch offices, including its subsidiary companies Companhia Europeia de Seguros and Winterthur Pensoes. The terms of the deal were …
Investigators with the California Department of Insurance (CDI) Criminal Investigations Branch’s Fraud Division announced the arraignment of Emilia Sanchez, 37, of San Bernardino, Calif. Sanchez pled not guilty at her arraignment late last week. According to investigators, Sanchez worked at …
Richard Bowers has been named senior vice president, Marketing Planning and Development at Acordia of California Insurance Services Inc. Based in San Francisco, he will support both the wholesale and retail sales and retention efforts of Acordia’s local Property & …
