ACE Limited announced that Brian Dowd, currently CEO, Insurance – North America, has been named to the additional position of Vice Chairman, ACE Limited and ACE Group Holdings. “In addition to his current responsibilities, which encompass ACE’s property and casualty …
A.M. Best Co. has affirmed the financial strength rating of ‘B++’ (Good) and issuer credit rating (ICR) of “bbb+” of Canada’s Echelon General Insurance Company. Best also affirmed the ICR of “bb+” of Echelon General’s publicly traded parent, EGI Financial …
A.M. Best Co. has revised the outlook to positive from stable for the issuer credit ratings (ICR) of Travelers Group, its P/C members and affiliate, Travelers Casualty and Surety Company of America (TCSA) and TCSA’s affiliate, the UK-based Travelers Casualty …
Phenix Mutual, Motorists Mutual Concord, New Hampshire-based Phenix Mutual Fire Insurance Co. announced that it will become an affiliate of The Motorists Insurance Group, upon approval by regulators in New Hampshire and Ohio, where Motorists is headquartered. Phenix, which operates …
The Hartford As reported from sources by Reuters, Hartford Financial Services Group, Inc. is trying to sell its property/casualty insurance business, as it reels from massive losses. The Hartford has retained Goldman Sachs, which has been calling potential bidders for …
Dutch financial group ING made clear this week it was not in any particular rush to complete its planned €8 billion [$10.8 billion] of asset sales — but to hear analysts and bankers tell it, Chief Executive Jan Hommen may …
The Bermuda-based Catlin Group announced from its London offices that the “three explorers conducting the Catlin Arctic Survey returned from the Arctic sea ice late on Wednesday (13 May), marking the end of a scientific expedition to help researchers determine …
Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and senior unsecured debt ratings on Toronto-based specialty insurance provider Kingsway Financial Services Inc. to ‘B-‘ from ‘B’. S&P also removed the ratings from CreditWatch with negative implications, where …
A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of AXA Assurances Inc. Of Montreal, Quebec and its wholly owned subsidiaries, AXA Insurance (Canada), AXA Pacific Insurance Company, AXA …
The Bermuda-based Argo Group International Holdings announced that its net income for the first quarter of 2009 was “$27.0 million or $0.88 per diluted share, which includes $11.8 million of net pre-tax realized investment losses and other than temporary impairment …
