A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a” of the U.S. operating companies comprising OneBeacon Insurance Group, and the FSR of ‘A-‘ (Excellent) and ICRs of “a-” …
Hurricane Igor continues to be a dangerous category four storm, the second most powerful category in the five category Saffir-Simpson scale, and is now predicted to possibly hit Bermuda. Officials in Bermuda reportedly have issued a small-boat warning and are …
Hurricane Karl formed in the southern Gulf of Mexico Thursday and gained strength as it headed across Mexico’s offshore oil patch. No damage was reported at Mexican oil drilling platforms and state-run oil giant Pemex has not curtailed operations, but …
Houston-based HCC Insurance Holdings, Inc. appointed Mark W. Callahan executive vice president and HCC’s chief actuarial officer effective Aug. 9, 2010. Callahan was previously the chief risk, underwriting, and actuarial services officer for XL Insurance. During 12 years there he …
Standard & Poor’s Ratings Services announced that its ratings on Bermuda-based Endurance Specialty Holdings Ltd. – currently ‘BBB+’ with a stable outlook – and its operating subsidiaries are “not affected by the acquisition of a portion of Glacier Reinsurance AG’s …
Hurricane Igor has weakened a little, but still remains a large and powerful hurricane, the National Hurricane Center reported this morning. The hurricane was about 1,000 miles southeast of Bermuda. It was moving at about 10 mph and has sustained …
Tropical Storm Karl hit Mexico’s Yucatan Peninsula Wednesday and was expected to head into the Gulf of Mexico, threatening Mexican oil installations and possibly gaining hurricane strength. Mexico’s state-run oil giant Pemex has not yet curtailed any operations but said …
It’s cash-rich, led by a CEO with political aspirations, and was last year’s top S&P 500 performer. Pressured by soft pricing and slow premium growth, (re)insurer XL Group is also undervalued, analysts say, and a prime target for a bidder …
Tropical Storm Julia grew in the far eastern Atlantic into the fifth hurricane of the storm season, while Hurricane Igor weakened slightly but remained a dangerous Category 4 storm, forecasters said on Tuesday. Neither hurricane posed an immediate threat to …
A special report from A.M. Best concludes that “robust earnings reports mask challenges ahead for the global reinsurance industry: a convergence of market pressures, low interest rates and tightening financial and market regulations that could impact the industry’s capital. “These …
