A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a” of Hiscox Insurance Company (Bermuda) Limited, UK-based Hiscox Insurance Company Limited (Hisco) and Hiscox Insurance Company …
A.M. Best Europe – Rating Services Limited has affirmed the Best’s Syndicate Rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 33, which is managed by Hiscox Syndicates Ltd (HSL). Best has also affirmed the …
Florida insurance officials have agreed that three Bermuda-based reinsurers can participate in Florida’s insurance marketplace without having to post millions of dollars in extra collateral. The Office of Insurance Regulation’s (OIR) agreements are with Ace Tempest Reinsurance Ltd., Hiscox Insurance …
Ireland unveiled a new corporate governance code for banks and insurers on Monday to bring ‘fresh blood’ into boardrooms and prevent a repeat of the excessive risk-taking that precipitated the country’s financial crisis. A property market crash exposed years of …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit rating of “aa-” of Italy’s Assicurazioni Generali S.p.A., both with stable outlooks. Best also affirmed the ratings of the debt instruments …
Ambac Financial Group Inc., which was the second-largest U.S. bond insurer before suffering huge losses on risky mortgages, filed for Chapter 11 bankruptcy Monday. The filing cements Ambac’s decline from a company that once guaranteed payments on more than $550 …
Atlanta-based Ebix, Inc., which sells software and e-commerce services to the insurance industry, today reported record financial results for the third quarter of 2010. Total third quarter revenue grew to a record $33.3 million, an increase of 43 percent on …
Insurance broker Marsh’s revenue in the third quarter of 2010 rose 9 percent to $1.1 billion. Marsh’s revenue growth in the United States / Canada was 3 percent in the quarter; international operations rose 2 percent, reflecting growth of 4 …
Washington State Insurance Commissioner Mike Kreidler has issued an order to suspend the insurance certificates of six Chubb & Son companies, effective Nov. 18, 2010. The move — which does not affect existing policies or renewals — would bar the …
