Fitch Ratings affirmed the “AA-” insurer financial strength rating on the Safeco property and casualty group. In addition, Fitch affirmed “A-” long-term and senior debt ratings on Safeco Corp. and the “BBB+” rating on Safeco Capital Trust I’s (Safeco Capital) …
A.M. Best Co. placed the financial strength rating “A-” (excellent) of Omaha Property and Casualty Insurance Co. (OPAC) under review with developing implications. The under review status reflects the announcement of a definitive agreement between Beazley Group and Mutual of …
A.M. Best Co. downgraded the financial strength rating of Transatlantic Reinsurance Company and Putnam Reinsurance Company to “A+” (superior) from “A++” (superior). Concurrently, Best assigned the group members an issuer credit rating of “aa” and Transatlantic an issuer credit rating …
Standard & Poor’s Rating Services lowered its counterparty credit rating on Marsh & McLennan Cos. (MMC) to “BBB+/A-2” from “A+/A-1.” The rating remains on credit watch with negative implications, where it was placed after New York State Attorney General Elliott …
S&P placed its “BBB-” counterparty credit rating on Willis Group Holdings Inc. on credit watch with negative implications following recent developments in the ongoing investigation by the New York attorney general into the payment of contingent commissions, which has led …
S&P lowered its counterparty credit rating on Aon Corp. to “BBB+/A-2” from “A-/A-2.” S&P also lowered its preferred stock rating on Aon to “BBB-” from “BBB.” In addition, S&P placed all these ratings on ‘credit watch’ with negative implications. The …
S&P lowered its counterparty and financial strength ratings on Fireman’s Fund Insurance Co. (FFIC) and some of its rated subsidiaries, as well as its financial strength ratings on other units to “A” from “A+.” The rating outlook remains negative. The …
S&P assigned its “R” financial strength rating to American Superior Ins. Co. based on the company’s recent announcement that it has agreed to be put under rehabilitation by the Division of Rehabilitation and Liquidation of the Florida Department of Financial …
A.M. Best Co. placed the “A-” (excellent) financial strength rating of Nationwide Ins. Co. of Florida (NICOF) under review with negative implications, as a result of anticipated losses associated with Hurricanes Charley, Frances, Ivan and Jeanne, and the subsequent reduction …
Following the latest announced business plan by Converium AG, A.M. Best Co. downgraded the financial strength rating to “B” (fair) from “B++” (very good) of Converium Insurance North America (CINA). Concurrently, Best downgraded the issuer credit rating to “b-” from …
