It’s cash-rich, led by a CEO with political aspirations, and was last year’s top S&P 500 performer. Pressured by soft pricing and slow premium growth, (re)insurer XL Group is also undervalued, analysts say, and a prime target for a bidder …
Tropical Storm Karl hit Mexico’s Yucatan Peninsula Wednesday and was expected to head into the Gulf of Mexico, threatening Mexican oil installations and possibly gaining hurricane strength. Mexico’s state-run oil giant Pemex has not yet curtailed any operations but said …
A.M. Best Europe – Rating Services Ltd has affirmed the Best’s Syndicate Rating of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 510, which is managed by R.J. Kiln & Co Ltd. Best also affirmed …
A.M. Best Co. has downgraded the financial strength rating (FSR) to ‘A-‘ (Excellent) from ‘A’ (Excellent) and the issuer credit rating (ICR) to “a-” from “a” of Macau Insurance Company Limited (MIC). Best also affirmed the FSR of ‘A-‘ (Excellent) …
Standard & Poor’s Ratings Services has revised its outlook on Selective Insurance Group Inc. (SIGI) and its operating subsidiaries (collectively, Selective) to stable from negative. S&P also affirmed its ‘BBB’ counterparty credit rating on SIGI and its ‘A’ counterparty credit …
Tower Group, Inc. announced that it intends to offer $135 million aggregate principal amount of convertible senior notes due 2014 through a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, …
Willis Programs, a unit of Willis Group Holdings announced that it is partnering with Chartis for its MetalWorkingGuard® and PlasticsGuard® Programs, which provide tailored property and liability insurance solutions for businesses in the metal goods and plastics manufacturing industries. MetalWorkingGuard® …
Following detailed analysis of property damage from the Darfield, New Zealand, earthquake, Risk Management Solutions said it “estimates that total insured losses will fall between NZD 2.1 billion (US$ 1.5 billion) and NZD 3.5 billion (US$ 2.5 billion).” RMS said …
Have you ever watched the movie “Speed” with Keanu Reeves, Dennis Hopper, and Sandra Bullock? Dennis Hopper plays a bitter and unstable bomb squad officer who gets hurt on the job and is forced to retire. He straps a bomb …
Colorado is freeing up more money to help pay for fighting the wildfire burning near Loveland, the second major wildfire to hit the state in a week. An executive order issued Sept. 13 provides up to $3 million for the …
