Standard & Poor’s Ratings Services has assigned its preliminary ‘B-‘ credit rating to the class II-CN3 notes series 2010-1 issued under the principal at-risk variable-rate note program, Successor X Ltd. Swiss Re (A+/Stable/A-1) sponsors the program, which “aims to transfer …
The top U.S. trade official expressed doubt Tuesday that negotiators could reach a deal this year in long-running world trade talks despite a goal set by President Barack Obama and other leaders. But in remarks at the National Press Club, …
Internal pressure was mounting for months ahead of the February firings of the staff of an agency charged with protecting the well-being of Ohio’s insurance fund for injured workers. Public records obtained by The Associated Press reveal frustration among the …
Swiss Re released its preliminary estimates for losses from the magnitude 8.8 earthquake that hit Chile on February 27 – $500 million – and from European windstorm Xynthia – $100 million. Both estimates are “net of the benefits of retrocession.” …
A.M. Best Co. has downgraded the financial strength rating to ‘D’ (Poor) from C+ (Marginal) and issuer credit rating to “c” from “b-” of Michigan-based American Community Mutual Insurance Company. The outlook for both ratings is negative. The downgrades reflect …
China and India joined almost all other major greenhouse gas emitters on Tuesday in signing up to the climate accord struck in Copenhagen, boosting a deal strongly favored by the United States. More than 100 nations have now endorsed the …
Oklahoma motorists who drive without insurance could have their vehicles impounded under a bill approved in the Oklahoma House. The House voted 87-8 for House Bill 2331 by Rep. Steve Martin, a Bartlesville Republican. Martin says the bill authorizes police …
Florida insurance regulators this week notified a Jacksonville-based insurer that it has until the end of the month to comply with solvency requirements to avoid suspension or losing its license. And the warning to Southern Oak Insurance Co. is just …
Iowa’s largest health insurance provider will delay a planned premium increase after Gov. Chet Culver raised questions about the higher rates to the state insurance commissioner. Culver sent a letter to Insurance Commissioner Susan Voss, expressing concern about Wellmark Blue …
Last month’s huge earthquake in Chile might cost the insurance industry up to $7 billion in damage claims, the world’s top two reinsurers said, but it looks unlikely to raise reinsurance prices. World leader Munich Re said it expected the …
