A.M. Best Co. has affirmed the financial strength ratings (FSR) of “A++” (Superior) and the issuer credit ratings (ICR) of “aa+” for the Delaware-based General Re Group. Best said the ratings apply to General Reinsurance Corp. (Delaware) and its core …
Boston-based OneBeacon Insurance Group has signed a binding agreement to transfer its Agri book renewal rights and certain OneBeacon Agri assets to QBE the Americas, a wholly owned division of Australia’s QBE Insurance Group, Ltd. “OneBeacon Agri is a division …
A.M. Best Co. has affirmed the financial strength rating (FSR) of “A” (Excellent) and the issuer credit rating (ICR) of “a” of the >New York-based QBE Re Group – U.S. and its subsidiaries. The rating action applies to Philadelphia-based QBE …
The old saying about necessity being “the mother of invention” also seems to hold true for the insurance industry. With the number of sports related injuries on the increase in the U.K. – there are an estimated 20 million sporting …
Australia’s QBE Insurance Group posted a A$591 million (US$452 million) operating profit after tax for the half year ended 30 June 2006, a 20 percent increase. The Company said the “increase in profit reflects the benefit of premium growth from …
Lloyd’s issued a bulletin warning that an Australian stock brokerage firm called The Armitage has been falsely claiming to have coverage from Lloyd’s. Lloyd’s said it “has become aware” that Armitage, which it said is “based at Level 20, Tower …
“Our result as at 30 June is a good basis for achieving our 2006 profit target, namely a return on equity of at least 15 percent,” stated Hannover Re’s CEO William Zeller, as he presented the German reinsurer’s interim earnings …
Guy Carpenter & Company, Inc., the global risk and reinsurance specialist of the Marsh & McLennan Companies, announced that John Carroll has joined the firm’s Sydney office as Senior Vice President and Head of Broking, effective August 1. In his …
Standard & Poor’s Ratings Services revised its outlook on China’s insurance sector to positive from developing to reflect expectations that the financial strength of the overall industry will improve over the medium term. In a new publication titled “China Insurance …
Insurance Australia Group Limited announced that negotiations for the acquisition of a 24.9 percent stake in China Pacific Property Insurance Co., Ltd. (CPPI) have “progressed to the stage that draft transaction agreements have been confirmed for the purposes of lodgement …
