Standard & Poor’s Ratings Services has lowered its counterparty credit and financial strength ratings on Allstate Corp.’s core property-liability (Allstate Protection) and life insurance (Allstate Financial) companies to ‘AA-‘ from ‘AA’. S&P also lowered its counterparty credit rating on Allstate …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Bermuda-based Renaissance Reinsurance Ltd. (RenRe) and Dublin-based Renaissance Reinsurance of Europe. Best also affirmed the ICR of “a-” and …
Scientists who flew a modified corporate jet from pole to pole to study how greenhouse gases move found carbon dioxide piling up over the Arctic, but also higher than expected levels of oxygen over the Antarctic. The three-week, $4.5 million …
French bank BNP Paribas and stricken Belgian financial group Fortis have agreed to revisions to the latter’s carve-up on Friday in a bid to convince Fortis investors angered by the initial terms to accept the deal. The Belgian government, which …
ACE announced that it is extending its Environmental Risk capabilities by writing the company’s portfolio of Environmental Liability products at Lloyd’s. “ACE’s suite of environmental products is now available through ACE Global Markets Syndicate 2488, with appetite across all industry …
The Bermuda-based Arch Capital Group Ltd. announced that it expects to report after-tax operating income available for common shareholders in the range of $75 million to $90 million for the 2008 fourth quarter. “These amounts reflect an increase of approximately …
The Bermuda-based Argo Group International Holdings has increased its loss estimate for Hurricane Ike, including reinstatement premiums and estimated reinsurance recoveries, by approximately $15 million on a pre-tax basis. Argo Group’s International Specialty segment accounted for $12.1 million of the …
Florida Insurance Commissioner Kevin McCarty has issued a subpoena to State Farm Florida Insurance Co. requesting detailed information about the company’s Florida property insurance policyholders. The request comes in follow-up to, and as part of, the Office of Insurance Regulation’s …
Phoenix, Ariz.-based MiniCo Inc. has promoted Dan Sommer and David Good. Sommer has been named vice president, publishing, marketing and communications, as well as chief marketing officer. Good has been promoted to vice president, information technology, and chief information officer. …
