Virginia-based Markel Corporation confirmed the estimates it gave on Oct. 22 that it would suffer a third quarter loss (see IJ Web site Oct. 23). It reported a net loss of $1.68 per diluted share for the quarter ended September …
Superintendent of Insurance Gregory V. Serio announced that the New York State Insurance Department will hold public hearings around the state to determine whether he will require the New York Property Insurance Underwriting Association (NYPIUA) to provide commercial liability insurance …
According to news reports, some significant progress towards the rebuilding of the World Trade Center has been achieved on two fronts. Architects Daniel Libeskind, whose overall design for the new WTC was accepted last March, met with David Childs, the …
Standard & Poor’s Ratings Services announced that it has revised its outlook on Ukraine to positive from stable, and has affirmed the ‘B’ long-term and ‘B’ short-term ratings on the country. “The outlook revision reflects reduced debt-servicing pressures and a …
Standard & Poor’s Ratings Services announced that it has assigned its ‘B-‘ long-term counterparty credit and insurer financial strength ratings to Russian insurer oOo Strakhovaya Kompaniya Neftepolis, with a stable outlook. It also noted that it had assigned its ‘ruBBB-‘ …
Bermuda’s Montpelier Re Holdings Ltd. reported net income of $91 million, or $1.34 diluted earnings per share, for the three months to September 30, 2003. The company’s net income for the first nine months of 2003 was $307.3 million, or …
A.M. Best Co. released a comment on the financial strength ratings of Aspen Insurance UK Limited (Aspen Re) and Aspen Insurance Limited (AIL) following the announcement by its ultimate parent, Aspen Insurance Holdings, Bermuda (AIH), of the commencement of operations …
The European Financial Services Round Table (EFR), has prepared a report titled “Harmonization of Regulation and Supervision of the European Financial Sector,” calling for increased harmonization on a European level, of the regulations and the supervisory organizations that set the …
Bermuda’s ACE Limited reported a very good third quarter, with net operating income, which excludes gains/losses on investments, rising 105 percent to a record $304 million, or $1.04 per share, compared with $148 million or $0.53 per share for the …
A.M. Best Co. has assigned an initial financial strength rating of A- (Excellent) to Aspen Specialty Insurance Company, the recently formed U.S. insurer that is part of the Aspen Group, which includes the ultimate parent company, Aspen Insurance Holdings Limited …
