Catlin Group Limited, the international specialty property/casualty insurer and reinsurer, announced that its reinsurance subsidiary, Catlin Re Switzerland Ltd. has received approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate as a reinsurance company. Catlin announced the Company’s …
Bermuda-based Alterra Capital Holdings Limited announced the appointment of Daniel G. Gamble as Managing Director of Alterra USA. Gamble has more than 15 years experience in Professional Liability underwriting, most recently as Executive Vice President, Executive Assurance with Arch Insurance …
A.M. Best Co. has assigned a financial strength rating of ‘A’ (Excellent) and an issuer credit rating of “a” to Dallas-based Aspen American Insurance Company (AAIC), a wholly owned subsidiary of its ultimate parent, Aspen Insurance Holdings Limited. The outlook …
A.M. Best Co. has assigned a financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” to Bermuda-based Oil Casualty Insurance, Ltd (OCIL), both with stable outlooks. OCIL’s ratings “reflect its superior capitalization, balance sheet strength, generally profitable …
Standard & Poor’s Ratings Services has revised its outlook on XL Group Ltd. and its subsidiaries to stable from negative. S&P also affirmed its ‘A’ counterparty credit and financial strength ratings on XL Group’s core insurance subsidiaries and its ‘BBB+’ …
A.M. Best Co. has assigned a debt rating of “bbb” to the recently issued $300 million 5.5 percent senior unsecured notes due 2020 of Bermuda-based Allied World Assurance Company Holdings, with a stable outlook. The proceeds from the debt offering …
A.M. Best Co. and Standard & Poor’s Ratings Services have both placed their credit and financial strength ratings on RenaissanceRe’s U.S. insurance companies under review with negative implications. The actions follow yesterday’s announcement that RenRe has entered into a definitive …
Bermuda-based RenaissanceRe Holdings Ltd. announced that it has “entered into a definitive agreement with QBE Holdings, Inc. to sell its U.S. property and casualty business underwritten through managing general agents, its crop insurance business underwritten through Agro National Inc. and …
Lloyd’s of London notes that “after almost a decade of development regulators are now putting the finishing touches to Solvency II, new rules governing European insurers’ capital adequacy. The regime is set to modernize the way European insurers are supervised, …
Two Lloyd’s insurers, Beazley plc, which is domiciled in Ireland and Hardy Underwriting, which is domiciled in Bermuda are engaged in a takeover tussle. Beazley, which also has extensive non-Lloyd’s operations, especially in the U.S., submitted a revised offer of …
