Standard & Poor’s Ratings Services has revised its rating implications to positive from developing on the CreditWatch placement of its ‘BB’ long-term counterparty credit ratings and ‘B’ short-term counterparty credit ratings on Fortis SA/NV and Fortis N.V. (together, “Fortis”), the …
Bermuda’s RenaissanceRe Holdings reported that its net income available to common shareholders in the first quarter of 2009 fell to $97.3 Million, or $1.57 per common share, compared to net income available to common shareholders of $137.2 million or $2.05 …
The Bermuda-based Everest Re Group reported first quarter 2009 after-tax operating income, which excludes realized capital gains and losses and gain on debt repurchase, of $106.1 million, or $1.73 per diluted share, compared to after-tax operating income of $190.6 million, …
Lloyd’s announced that it will repurchase the local currency equivalent of £102 million ($151.67 million) of its outstanding debt securities, following its invitation to holders to submit offers to sell their holdings. Lloyd’s had offered to purchase up to £100 …
Richard Phillips, the U.S. ship captain held hostage by Somali pirates, told Congress Thursday he thought arming some members of commercial ship crews could help beat back pirate attacks. But shipping executive John Clancey opposed crews getting into an arms …
Fairfax Financial Holdings Ltd. said Thursday that it had a net loss in the first quarter as investments shed value in volatile markets. [Amounts are in U.S. $, unless otherwise indicated]. The Toronto-based insurance holding company said it had a …
A bill to strengthen a private school voucher program for children from low-income families is going to Florida Gov. Charlie Crist. The measure would give insurance companies dollar-for-dollar credits against premium taxes for donations made to the program. Businesses now …
Gulfport, Mississippi Mayor Brent Warr, the highest-ranking public official charged with Hurricane Katrina fraud, made numerous false statements about the living arrangements of his family and a beachfront home damaged by the 2005 storm, federal prosecutors say. Warr and his …
Jack M. Rader, executive vice president and COO of Farmers Alliance Companies in McPherson, Kan., was elected chairman of the American Association of Insurance Services (AAIS) at the association’s annual meeting held in Half Moon Bay, Calif. Rader succeeds James …
The Nevada Department of Business & Industry (B&I) announced that it has created an account on the micro-blogging site Twitter. “Our participation on Twitter is part of our strategy to expand how we provide information,” said Director Dianne Cornwall. “B&I’s …
