Georgia and West Virginia are two southeast states that could reconsider their earlier approval of the Anthem Inc./WellPoint merger, after California’s $265 million concessions package in California. Seven other states, plus Puerto Rico, that may reconsider their earlier approval of …
France’s AXA announced that its consolidated revenues for the first nine months of 2004 rose 1.1 percent on a comparable basis to 54.4 billion euros ($70.3 billion). Highlights of the report are summarized as follows: – Life & Savings revenues …
Lloyd’s has set the terms for its subordinated debt issue, following a successful presentation to potential investors. “The transaction met with a very positive response from a wide range of quality institutional investors in the UK and continental Europe following …
Standard & Poor’s Ratings Services announced that it has assigned its “BBB+” preferred stock rating to Bermuda-based PartnerRe Ltd.’s (PRE’s) proposed $200 million Series D Cumulative Redeemable Preferred Shares issuance (See IJ Website Nov.10). At the same time, S&P said …
The U.K.’s Chartered Insurance Institute (CII) announced the selection of Lord Hunt of Wirral MBE as the first independent Chairman of its Professional Standards Board. “David Hunt is senior partner of Beachcroft Wansbroughs, the national commercial law firm, which has …
Standard & Poor’s Rating Services announced that it has affirmed it’s “AA-” insurer financial strength rating on London-based Tokio Marine Europe Insurance Ltd. (TMEI), a wholly owned subsidiary of Tokio Marine & Nichido Fire Insurance Co. Ltd. (TMNFI; AA-/Stable), part …
Fitch Ratings commented that Fairfax Financial Holdings Limited’s ratings and Rating Watch Negative status are unaffected by its recent disclosures via its third-quarter 2004 financial filings and investor conference held on Nov. 8, 2004. Fitch said it “recognizes the positive …
A.M. Best Co. announced that it has placed the financial strength rating of “A” (Excellent) of U.K.-based Zurich Specialties London Limited (ZSL) under review with negative implications. Best explained that it had taken the action in order to “reassess ZSL’s …
Carvill, a leading reinsurance intermediary in Specialty business, announced the launch of Carvill Re, to provide a “dedicated focus to expanding Carvill’s relationships in the London reinsurance markets.” Carvill said the new operation would “concentrate on all classes of the …
Standard & Poor’s Ratings Services announced that it has raised its long-term counterparty credit and insurer financial strength ratings on Oslo-based marine insurer Assuranceforeningen SKULD (Gjensidig) (Skuld or the club) to ‘BBB’ from ‘BB+’. The outlook is stable. “The upgrade …
