Standard & Poor’s Ratings Services has revised its outlook on Toronto-based property and casualty insurer ACE INA Insurance (ACE Canada) to positive from stable. S&P also affirmed the long-term ‘A’ financial strength and counterparty credit ratings on the company. “The …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of the Bermuda-based Platinum Underwriters Group and its members. Best also affirmed the ICR of “bbb” of Platinum Underwriters Holdings, …
XL Insurance, the global insurance operations of XL Capital Ltd., announced that it will offer insurance solutions to Upper Middle Market companies in Germany with an annual turnover ranging from approximately €30 million (40.48 million to €300 million ($404.8 million). …
U.S. Sen. Bill Nelson has asked the U.S. Treasury to provide assurances to private market lenders that any loans they make in Florida would be repaid at fair market interest in the event of a catastrophe. Nelson, however, said obtaining …
The Obama administration Tuesday mounted a full-scale push for government authority to shut down troubled institutions like insurer AIG to avoid the need for future bailouts. U.S. Treasury Secretary Timothy Geithner, testifying before lawmakers still fuming about big bonuses for …
Standard & Poor’s Ratings Services announced that its insurer financial strength rating and outlook on Lloyd’s (Lloyd’s or the Market; A+/Stable/–) “are unaffected by full-year results reported by the Market for the financial year ended Dec. 31, 2008.” S&P reviewed …
Aon’s newly launched “Aerospace Insurance Market Outlook 2009” initially determined that the “average lead premium in the aerospace insurance market continued to decline during 2008, but underwriters will be looking to increase premiums this year.” The total “like-for-like lead premium …
The latest of the UK’s Chartered Insurance Institute (CII) Thinkpiece articles – “Pandemics – be prepared” features the work of Trevor Maynard, Emerging Risks Manager at Lloyd’s, who highlights the ever present risks posed by pandemics and what the next …
Luke Savage, Lloyd’s of London’s finance director (among other titles), is certainly aware that 2008 was a “tough year,” as he put it in a telephone interview. Lloyd’s profits dropped by 50 percent (See IJ web site – https://www.insurancejournal.com/news/international/2009/03/24/98985.htm ). …
Colorado Gov. Ritter announced that the Department of Regulatory Agencies’ Division of Insurance has launched a new online insurance guide. The Web site guides consumers through the many choices to consider when selecting insurance including: the types of insurance available …
