Europe’s insurers are able to withstand even a major financial crisis, an EU watchdog said on Tuesday, boosting industry hopes for less onerous regulation. EU insurance watchdog CEIOPS, (the Committee of European Insurance and Occupational Pensions Supervisors) unveiled the long-awaited …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Farmers Insurance Group and its members. Best also affirmed the debt ratings on the outstanding surplus notes of Farmers …
The Hartford said it would conduct a public offering of equity and debt securities as part of a plan to repay the $3.4 billion it took from the federal government as part of the Treasury’s Capital Purchase Program, also known …
The Property Casualty Insurers Association of America (PCI) has requested that South Dakota Governor Mike Rounds veto Senate Bill 169, which PCI says will increase litigation costs and cause higher insurance premiums for consumers. The bill, which passed the South …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and issuer credit ratings (ICR) of “aa+” of the Chubb Group of Insurance Companies and its P/C members. Best also affirmed the ICR of “aa-“, senior debt …
Swiss Re’s annual sigma study has calculated that “natural catastrophes cost insurers $22 billion in 2009, while man-made disasters cost an additional $4 billion. Insured losses were highest in North America, where they cost insurers over $12.7 billion. “The death …
Even though they are largely excluded from the federal financial regulatory overhaul proposed in the Senate, property/casualty insurers say there are some elements they fear could negatively affect them and their customers. Sen. Chris Dodd, D-Conn., unveiled his “Restoring American …
The Sarasota HeraldTribune, as part of its series on the property insurance market in Florida, has reported that half of the state’s insurers are making money not from insuring homes but by diverting premiums into side ventures. The copyrighted report …
California workers’ compensation claims and disability costs have dropped significantly since the state’s workers’ compensation system was overhauled in 2003 and 2004. Yet “many of the same incentives, institutions and regulatory practices that contributed to the market volatility and insurance …
Bermuda-based PartnerRe Ltd. announced that it has priced, through its indirectly wholly-owned subsidiary PartnerRe Finance B LLC, $500 million of 10-year fixed rate 5.50 percent Senior Notes, pursuant to its currently effective shelf registration statement. “The Senior Notes will be …
