A.M. Best Co. has downgraded the financial strength rating (FSR) to ‘A-‘ (Excellent) from ‘A’ (Excellent) and assigned issuer credit ratings (ICR) of “a-” to Argus Group Holdings Limited (AGH) and its subsidiaries, Argus Insurance Company Limited (AICL), Somers Isle …
Catlin Group Limited (CGL) the Bermuda-based international specialty P/C insurer and reinsurer, announced that Catlin UK has acquired the renewal rights to the professional indemnity and directors & officers liability books of business underwritten by Bennett Underwriting Agencies Ltd ( …
While Standard & Poor’s Ratings Services is positive in its outlook for PARIS RE (See related article), it is less so when it comes to the acquiring company, Bermuda-based PartnerRe. S&P said it has revised its outlook on the company …
Both A.M. Best Co. and Standard & Poor’s Ratings Services have taken a positive outlook for their ratings on PARIS RE and its operating companies, following the announcement that the group would be acquired by PartnerRe. Best said it has …
New York-based Tower Group Inc. has agreed to purchase Specialty Underwriters’ Alliance Inc., headquartered in Chicago, in a transaction valued at approximately $107 million. SUA said the deal will enable it to better leverage its independent general agent distribution network …
A Golden Moment for the Insurance Industry In a time of financial turmoil, we in the insurance industry have an unprecedented opportunity. As capital providers and risk advisers in a time of scarce capital and huge risk, we should seize …
Several Mexican clients of Stanford Financial Group have sued insurance broker Willis Group Holdings Ltd, contending it was a willing participant in a $7 billion fraud at the Texas-based investment company. The lawsuit, filed in federal court in Dallas, said …
Bermuda-based PartnerRe announced that it has entered into definitive agreements to acquire PARIS RE, a French-listed, Swiss-based diversified reinsurer. PartnerRe will exchange 0.30 of its common shares for each PARIS RE common share outstanding in a stock-for-stock transaction. The announcement …
Michael Jackson’s untimely death, barely two weeks before he was to begin a long awaited series of 50 concerts, stretching over 8 months, continues to be headline news. It’s also news of another sort in the City of London, where …
Bermuda-based American Safety Insurance Holdings Ltd. reported that its American Safety Casualty Insurance Company (ASCIC) subsidiary has acquired, for cash, Victore Insurance Company (VIC), an Oklahoma domiciled admitted insurance company headquartered in Oklahoma City. VIC provides customized bonding solutions for …
