Insurance rivals stand to reap the benefits from the woes of American International Group, snapping up assets AIG is forced to sell while gaining greater pricing power as AIG pulls in its claws. Zurich Financial Services and other insurance rivals …
The Modernization of Lloyd’s and the London Market Any institution — and there aren’t many — that survives and thrives for 320 years must find ways to adapt to changing conditions. Lloyd’s of London’s transformation offers some insights as to …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of UK-based QBE Insurance (Europe) Limited , QBE Insurance (International) Limited of Australia and QBE Reinsurance (Europe) Limited (QBE Re), which …
A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A-‘ (Excellent) from ‘B’ (Fair) and the issuer credit rating (ICR) to “a-” from “bb+” of Arkansas’ American Underwriters Insurance Company (AUIC) with stable outlooks. “These rating actions follow …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and issuer credit ratings (ICR) of “aa+” of General Re Group and its members. The ratings apply to General Reinsurance Corporation (Delaware) and its core P/C and …
A.M. Best Co. has removed from under review with negative implications and affirmed the debt rating of “bb+” on $350 million non-cumulative perpetual preferred securities (preferred securities) issued by Stoneheath Re (issuer), a Cayman Islands exempted company. The assigned rating …
Australia’s QBE Insurance Group’s financial report for the six months ended June 30, 2008 showed increases in most areas, compared to 2007. QBE cited the following figures: — Insurance profit was up 6 percent to a record A$1.116 billion (US$967 …
The Derek Hughes/ National Association of Professional Surplus Lines Offices Ltd. Educational Foundation scholarships went to two University of Alabama student. Recipient Aldrich Callins of Birmingham, Ala. has attended college abroad in the United Kingdom, Japan, Botswana and Australia. He …
Standard & Poor’s Ratings Services has announced the results of its latest public information Lloyd’s Syndicate Assessment (LSA) review, which considered the 2007 syndicate financial statements and additional publicly available information and news flow up to Aug. 13, 2008. S&P …
The California-based PMI Group announced that it has entered into a definitive agreement to sell its Australian mortgage insurance subsidiary and related Australian holding company to QBE Insurance Group Limited, Australia’s largest international general insurance and reinsurance group. PMI said …
