Standard & Poor’s Ratings Services has affirmed its ‘BBB’ unsolicited counterparty credit rating on Markel Corp. However, S&P said the “outlook on Markel remains negative.” Credit analyst Taoufik Gharib explained: “The affirmation reflects Markel’s strong competitive position in the excess …
Fitch Ratings has affirmed the ratings of PartnerRe Ltd. with a negative outlook. The affirmation follows an “updated review of PartnerRe’s financial performance, capital position, liquidity, and investment exposures,” said Fitch. The rationale for the ratings includes the company’s” strong …
First-half 2010 operating profits declined for most publicly traded property/casualty insurance companies that Fitch Rating follows, according to a new report. However, the $16.2 billion of aggregate net earnings reported by these companies represents a substantial improvement versus the prior …
American International Group is expected to decide by early next week whether to enter formal negotiations with strategic investors for its Asian life insurance business, AIA, sources familiar with the process told Reuters on Wednesday. That AIG has set a …
Standard & Poor’s Ratings Services has raised its counterparty credit rating on Validus Holdings Ltd. to ‘BBB’ from ‘BBB-‘. S&P has also assigned its ‘A-‘ counterparty credit and financial strength ratings to Validus’ insurance subsidiary, Validus Reinsurance Ltd. The outlook …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Bermuda-based Allied World Assurance Company, Ltd. and its operating affiliates. Best also affirmed the ICR of “bbb”, debt rating …
Florida’s Office of Insurance Regulation issued a data call yesterday to the commercial and residential property insurance industry in Florida to collect claims data related to sinkholes. During the 2010 Legislative Session, the Office identified increased sinkhole claims as one …
Travelers Insurance has won a $262 million judgment against a group of reinsurers that refused to pay a portion of a nearly $1 billion settlement in asbestos claims the insurer paid in 2002. The award by a New York Supreme …
Church music director Carva White faced the music after launching an unholy plan to burn down his house of worship for an insurance payout. White played hymns for the Sunflower Missionary Baptist Church in Leavenworth, Kan. He recruited the head …
Muncie, Indiana-based Ritchie Insurance agency has joined Pennsylvania Keystone Insurers Group, brings Keystons’ franchise total in Indiana to 26 agencies. Ritchie, formed in 1937, is a full-service agency owned by Casey Ritchie and William Ritchie. Casey Ritchie, vice president of …
