Chedid Europe Reinsurance Brokerage Limited, headquartered in Dubai, UAE, has announced its registration as a Lloyd’s broker. Chedid Re, which is a subsidiary of the Lebanese group Chedid Capital Holding, said this business move comes as a natural extension of …
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp., has launched an earthquake model for the island of Cyprus, following requests from insurers seeking “to increase their understanding of seismic risk in the region.” Aon said its …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of Flagstone Reassurance Suisse SA and its reassured affiliate, Flagstone Alliance Insurance and Reinsurance plc, which is based in Cyprus, as …
A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the life/health and property/casualty operating subsidiaries of Colonial Group International Ltd. The outlook for all ratings is stable. Colonial …
An Ethiopian Airlines plane with 90 people on board crashed into the sea shortly after taking off from Beirut in bad weather early on Monday. Four bodies were recovered as a search for survivors began. The Boeing 737-800, heading for …
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 …
An overnight drop in gale-force winds offered hard-pressed Greek firefighters a brief respite Monday after wildfires raged unchecked for two days north of Athens, burning houses and swathes of forest while forcing thousands to flee their homes. But the winds …
A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A-‘ (Excellent) from ‘B++’ (Good) and the issuer credit rating (ICR) to “a-“from “bbb+” of Cyprus-based Alliance International Reinsurance Public Company Limited (Alliance Re). The outlook for the FSR …
Bermuda-based Flagstone Reinsurance Holdings Limited announced a net loss available to common shareholders for the quarter ended September 30, 2008 of $(186.5) million, or $(2.18) per diluted share, compared to net income of $66.2 million, or $0.77 per diluted share, …
A.M. Best Co. has commented that” the ratings of Flagstone Reassurance Suisse SA (Flagstone Reassurance) (Martigny, Switzerland), Flagstone Reinsurance Limited (Flagstone Re) (Hamilton, Bermuda) and Flagstone Reinsurance Holdings Limited (Flagstone Holdings) (Hamilton, Bermuda) are unchanged following the recently announced organizational …
