Swiss Re’s recently issued report on the 2004 hurricane season stresses that, although the number of storms may have been extraordinary, “the impact on insurers has been controllable through a process of event-based risk analysis.” The Report “The 2004 hurricane …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) of Korean Reinsurance Company with a stable outlook. “The rating reflects the company’s continuous growth in absolute capitalization since fiscal year 1997, its excellent operating …
A.M. Best Co. announced that has assigned a financial strength rating of “B++” (Very Good) to Dublin, Ireland-based Primary Insurance Company Limited (PICL) with a stable outlook. “The rating reflects PICL’s very good capitalisation and improving business profile. Offsetting factors …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) of the Barbados-based Imagine Insurance Company Limited, and has assigned the company an “a-” issuer credit rating. All ratings have a stable outlook. “These ratings …
Toronto-based Insurance Systems Inc. (ISI), a provider of web-based solutions to the global insurance industry, announced the appointment of Mark Mighton as vice president of sales. He joins ISI from DWL Inc, where he held a number of roles including …
Standard & Poor’s Ratings Services announced that it has assigned its “BBB+” senior debt rating to Bermuda-based AXIS Capital Holdings Ltd.’s $500 million, 5.75 percent senior notes, which are due in 2014. S&P also affirmed its “BBB+” counterparty credit rating …
A.M. Best Co. announced that it has downgraded the financial strength rating of The Toa Reinsurance Company of America (TRA), based in Morristown, NJ, to “A” (Excellent) from “A+” (Superior), with a stable outlook. Best also assigned an issuer credit …
Bermuda’s Montpelier Re Holdings Ltd. announced that certain of its founding shareholders have completed their sale of an aggregate of 3,500,000 common shares of the Company to Credit Suisse First Boston LLC at a price of $36.65 per share (See …
Deciding an issue never settled before in South Dakota, the state Supreme Court said Thursday that secondary, umbrella insurance does not kick in until another insurer’s primary coverage has paid its full limit. The unanimous ruling came in a case …
State Insurance Commissioner Therese M. Vaughan has resigned effective at the end of the year and will join the faculty at Drake University, the school announced Friday. Vaughan has been named the Robb B. Kelley distinguished professor of insurance and …
