The Zurich Financial Services Group announced that it has obtained, through its subsidiaries, Zurich American Insurance Company and Zurich Insurance Company Ltd, a 3-year $225 million catastrophe excess of loss reinsurance protection from Lakeside Re II Ltd. to cover the …
XL Re, the global reinsurance operations of XL Capital Ltd., announced changes in the management and underwriting structure of its Latin America operations, effective immediately. The operations continue to be led by Stephen Outerbridge, Chief Underwriting Officer and Chief Operating …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of Allstate New Jersey Insurance Group and its members. The outlook for all ratings is stable. Allstate New Jersey’s ultimate …
A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A++’ (Superior) and ICRs of “aaa” of United Services Automobile Association (USAA) of San Antonio, Texas and its property/casualty and life/health subsidiaries. Best also affirmed the debt rating of …
A.M. Best Co. has downgraded the financial strength rating to ‘B’ (Fair) from ‘B+’ (Good) and issuer credit rating to “bb+” from “bbb-” of Catholic Knights of Milwaukee, Wisc. And has placed the ratings under review with negative implications. “These …
Among the many recommendations made by Louisiana’s Commission on Streamlining Government in its Dec. 14 report to the state legislature is one that would phase out the state’s property insurer of last resort. The commission advised that governance of Louisiana’s …
Nebraska – never seen as a key player with special needs in the health care debate – stands to reap millions of dollars worth of financial goodies should the Senate version of the health care bill get final approval. Not …
Standard & Poor’s Ratings Services said today that it has revised its outlook on the core operating entities of French credit insurance group Coface to negative from stable. The core entities are: — France-based Coface S.A., — Germany-based Coface Kreditversicherung …
American International Group Inc. has halted efforts to sell a stake in Chartis, as Chief Executive Robert Benmosche focuses on expanding the property and casualty unit, a person familiar with the situation said Tuesday. The move is consistent with Benmosche’s …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit rating of “a” of Italy’s Societa Cattolica di Assicurazione – Societa Cooperativa. Both ratings gave negative outlooks. Best said the ratings reflect its “expectation …
