Standard & Poor’s Ratings Services has stated that its ratings and outlook on Germany’s Allianz SE (AZSE – rated AA/Stable/A-1+) and various core operating entities “are unaffected by the group’s announcement of a €2.4 billion [$ 3.023 billion] net loss …
American International Group Inc. posted a $61.7 billion fourth-quarter loss — its fifth consecutive quarterly loss and the biggest quarterly loss in corporate history. The quarter’s net loss of $61.7 billion compared to a 2007 fourth quarter net loss of …
EU leaders backed a blueprint on Sunday for streamlining how banks are supervised designed to spot excessive risk earlier to better protect investors. An emergency summit of European Union leaders on the economic crisis stressed the need to improve regulation …
Former Passaic, New Jersey Councilman Jonathan Soto has been convicted on bribery and extortion charges stemming from an FBI sting operation that netted 11 public officials in towns across New Jersey. A federal jury in Trenton returned the verdict Thursday, …
American International Group, Inc. (AIG) today announced that it intends to form a General Insurance holding company, including its Commercial Insurance Group, Foreign General unit, and other property and casualty operations, to be called AIU Holdings, Inc. The holding company …
A.M. Best Co. has downgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A+’ (Superior) and issuer credit ratings (ICR) to “a+” from “aa-” of Swiss Reinsurance Company Limited and its subsidiaries. Best also downgraded the ratings for all …
A.M. Best Co. has upgraded the financial strength ratings (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and the issuer credit ratings (ICR) to “a” from “a-” of the rated UK operating subsidiaries of the UK’s RSA Insurance Group plc. Best …
Lloyd’s has opened its new representative office in Poland with a reception attended by over 80 people from the local and international insurance community, including brokers, managing agents and risk managers. Polish regulators issued a license for Lloyd’s to write …
Union General Inusrance has an “A+” rated carrier offering package coverage, general liability and property for vacant properties. Available to California agents, the market provides coverage for all types of habitational risks, small to medium commercial buildings, and repossessed properties. …
A revised bailout of American International Group Inc. may be just another “band-aid” solution, but more than five months after it was first rescued by the government the option of letting the insurer fail would still be considered too big …
