Standard & Poor’s Ratings Services announced that it has lowered its long-term counterparty credit and insurer financial strength ratings on Italy’s composite insurer Società Cattolica di Assicurazione to “A-” from “A” and removed them from CreditWatch, where they had been …
Standard & Poor’s Ratings Services has revised its outlook to negative from stable on the counterparty credit and insurer financial strength ratings of German life insurer Nürnberger Lebensversicherung AG (NLV) and property/casualty insurer Nürnberger Allgemeine Versicherungs – AG (NAV) as …
A bulletin from the Bermuda Monetary Authority (BMA) confirmed that the island had “recorded a three-year high for (re)insurance company incorporations during 2006, with an almost 10 percent increase in the number of new (re)insurance companies incorporated in the jurisdiction …
A.M. Best Co. has affirmed the financial strength rating of “A-” (Excellent) and the issuer credit rating of “a-” of Korean Reinsurance Company with a stable outlook. “The ratings reflect Korean Re’s continuous growth in absolute capitalization, its stable operating …
A.M. Best Co. has affirmed the Best’s Syndicate Rating of “A” (Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 609, which is managed by Atrium Underwriters Limited. Best also affirmed the ICR of “bbb+” of UK-based …
A.M. Best Co. has affirmed the Best’s Syndicate Rating of “A” (Excellent) and the issuer credit rating of “a+” of Lloyd’s Syndicate 570, which is managed by Atrium Underwriters Limited, with a stable outlook. Best also affirmed Atrium’s Syndicate 609 …
Marsh announced it has been awarded China’s first ever Wholly-Owned Foreign Enterprise (WOFE) insurance broking license. The bulletin said the “new license provisions, subject to tax and regulatory approvals, are in-line with China’s World Trade Organization commitments to open its …
Swiss Re’s preliminary estimates of its potential net losses from Windstorm Kyrill are around €140 million ($181 million) before tax. Its gross claims estimate is around €220 million ($284 million), but this is reduced “by various protections in place of …
Insurance may be local, but it doesn’t have to be handled exclusively in the state, or even the country, where it’s needed. For the surplus lines market that means Lloyd’s, which explains the annual visit to London of the top …
A circuit judge has dismissed the claims of about 400 victims of a devastating flood in southern West Virginia in 2001. Ohio County Circuit Judge Arthur M. Recht said in last week’s ruling that the plaintiffs who live in the …
