A.M. Best Co. has assigned a financial strength rating of “C++” (Marginal) and an issuer credit rating (ICR) of “b+” to Russia’s OJSC Transsiberian Reinsurance Corporation (Transsib Re) with a stable outlook. “The ratings reflect Transsib Re’s position as a …
A.M. Best Co. has affirmed the financial strength rating (FSR) of “A-” (Excellent) of the Bermuda-based Colonial Group and its group-rated members. Best also affirmed the stand-alone FSRs of “A-” (Excellent) of the Security & General Insurance Company Limited (S&G) …
The Bermuda-based Catlin Group Limited announced plans to establish four new European offices in early 2007 in Paris, Barcelona, Zurich and Innsbruck. “The new locations will build on Catlin’s strategy to open offices in key cities worldwide to access business …
A.M. Best Co. reacted to yesterday’s announcement that Australia’s QBE has agreed to purchase Hannover Re’s Praetorian Financial Group, thereby taking over the German reinsurer’s North American operating units, with a series of bulletins. Best’s financial strength rating of “A” …
In his introduction to the latest progress report on Lloyd’s three-year plan, CEO Richard Ward noted that the current version “builds on the 2006-2008 plan issued in January. It includes our vision and priorities through to 2009, and an update …
A new report from Standard & Poor’s Equity Research – European Investment Outlook – Riding A Wave Of Volatility – foresees the volume of mergers and acquisition in Europe exceeding the €1.3 trillion [$1.7 trillion] generated by the end of …
Two investigators with the North Carolina Department of Insurance, Chet Effler of Marion, N.C., and Martha Ann Ford of Chester, S.C., have been honored for their work on insurance fraud cases in 2006. Effler received an award from Travelers Insurance …
Gov.-elect Charlie Crist hugged friends and shook hands with supporters at a breakfast Wednesday that kicked off three weeks of inaugural events. After taking photos with babies and greeting some of his backers, Crist addressed the gathering of politicians, community …
The Vermont Labor Department has put off plans to change the way injured workers are evaluated for workers’ compensation claims. Stephen Monahan, director of the Workers Compensation & Safety Division, on Wednesday asked the Legislature’s Administrative Rules Committee to delay …
A judge is weighing whether to order the release of thousands of pages of Springfield (Mass.) Diocese documents in a dispute between the church and seven of its insurance carriers over settlements with clergy sex abuse victims. The diocese sued …
