A.M. Best Co. has downgraded the financial strength rating to ‘B++’ (Good) from ‘A-‘ (Excellent) and issuer credit rating to ‘bbb’ from ‘a-‘of Ansvar Insurance Limited (New Zealand), and has placed both ratings under review with negative implications. The rating …
The long awaited end of the reinsurance pricing cycle may be obtainable, but is that necessarily good news? In his keynote speech at the PricewaterhouseCoopers breakfast briefing at the Reinsurance Rendezvous Martin Sullivan, deputy chairman of Willis Group and CEO …
As the Reinsurance Rendezvous in Monaco enters its second day, it has become apparent that most of the world’s global reinsurers are more than adequately capitalized. In conferences held on September 11 both A.M. Best and Standard & Poor’s described …
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp. has released the latest edition of its Aon Benfield Aggregate (ABA) report, which analyses the financial position of the world’s 28 leading reinsurers as of June 30, 2011, …
A.M. Best has begun an assessment of the potential financial impact Hurricane Irene’s passage through the Caribbean and up the East coast of the U.S. might have on the property/casualty industry in the U.S., Caribbean as well as the global …
Australian insurer and bank Suncorp reported a 42 percent fall in annual profit on Wednesday, but still beat forecasts and hinted at a capital return once markets stabilized, sending its shares nearly 7 percent higher. But Suncorp, whose reinsurance cost …
The man who holds in his hands the fate of U.S. credit, and with it potentially the global economy, favors small tie knots, sports a bushy mustache and smokes his fair share of cigarettes. Beyond that, he is a mystery, …
Lloyd’s announced that it has received approval from the New York Insurance Department to post reduced collateral on reinsurance contracts. Lloyd’s said it has been approved as a “Secure-3 reinsurer, meaning its collateral requirements will be reduced from 100 percent …
The Willis Research Network (WRN), the academic and analysis arm of Willis Group Holdings, has founded the Willis Research Network Economic Capital Forum at Georgia State University (WRN-ECF) with partners at Risklab, ETH Zurich and the Risk Management Institute, National …
Patriot National Insurance Group, a workers’ compensation provider, said it has received $30 million in equity funding from Six Points Investment Partners LLC. Steven M. Mariano, chairman and chief executive officer of Patriot National Insurance Group said that with this …
