Standard & Poor’s Ratings Services has assigned its preliminary ‘B-‘ credit rating to the class II-CN3 notes series 2010-1 issued under the principal at-risk variable-rate note program, Successor X Ltd. Swiss Re (A+/Stable/A-1) sponsors the program, which “aims to transfer …
A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Generali Vie and Generali IARD. Best also affirmed the ICR of “a-” of the non-operating parent, Generali France S.A. The …
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) and the United Nations Economic Commission for Latin America and the Caribbean (UNECLAC) announced that they will sign a Memorandum of Understanding (MOU) formalizing “a partnership to facilitate capacity building and to develop …
United America Indemnity has announced that its Board of Directors has unanimously approved a plan to re-domicile from the Cayman Islands to Ireland. The Company’s shareholders will be asked to vote in favor of completing the reorganization proposal at a …
North Dakota regulators have given approval to Sanford Health Plan to sell health insurance in the state, likely setting up competition with the company that has dominated the North Dakota market for decades but has drawn recent criticism for its …
The tragedy in Haiti is a reminder of how fragile life can be in developing countries.Despite the massive loss of life and widespread destruction in and around the capital Port-au-Prince, vital rescue efforts have been hampered by a lack of …
The struggling Irish economy heard some good news last week when XL announced that it is moving its place of incorporation to the Emerald Isle from the Cayman Islands, and will rename the company XL Group plc. Many of its …
Haiti’s private insurance market is very small but its government did provide a level of insurance coverage to its citizens by participating in a regional risk sharing pool. “Haiti is the poorest country in the Western Hemisphere and poor countries …
Swiss Re has entered into a transaction with Redwood Capital XI Ltd., a Cayman Islands exempted company financed through the offering of insurance-linked securities, to receive up to $150 million in the event of a California earthquake in the covered …
In times like these, where the insurance industry is now in its fifth year of a soft market, the use of an agency captive insurance company can spark both revenue and profits to improve an agency’s overall financial performance. The …
