May 13, 2009
A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of AXA Assurances Inc. Of Montreal, Quebec and its wholly owned subsidiaries, AXA Insurance (Canada), AXA Pacific Insurance Company, AXA …
May 11, 2009
Chicago-based Specialty Underwriters’ Alliance Inc. reported that although net income was down in the first quarter of 2009 compared to the same period a year ago, gross written premiums rose to $29 million compared to $24.1 million for the first …
May 11, 2009
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating of “a-” of Hawaii’s DTRIC Insurance Company Limited, both with stable outlooks. “The ratings,” said Best, “reflect DTRIC’s continued improvement in capitalization, well …
May 8, 2009
American International Group, the giant insurer bailed out by the U.S. government, reported its smallest loss in six quarters on Thursday, hurt once more by investment losses and write downs. AIG has lost more than $100 billion over those periods, …
May 8, 2009
The Securities and Exchange Commission is considering changing a formula that critics say often allows public companies to low-ball in regulatory filings just how much top executives are paid. At issue is how companies report in a summary compensation table …
May 8, 2009
Despite first-quarter profits being dragged dawn by winter storm claims, The Hanover Insurance Group Inc. earned its third ratings upgrade in 15 months, the Worcester, Mass.-based multi-regional insurer said. Hanover, which posted net income of $25.8 million — compared with …
May 8, 2009
Syndicate 382 – Hardy Underwriting A.M. Best Co. has affirmed the Best’s Syndicate Rating of ‘A ‘(Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 382, which is managed by Hardy (Underwriting Agencies) Ltd (HUA). Best also …
May 7, 2009
Swiss Re reported a net profit of CHF 150 million ($131.6 million) in the first quarter of 2009, compared to CHF 0.6 billion ($527 million) for the same period last year. Earnings per share declined to CHF 0.45 (39.5 cents). …
May 7, 2009
The Bermuda-based Argo Group International Holdings announced that its net income for the first quarter of 2009 was “$27.0 million or $0.88 per diluted share, which includes $11.8 million of net pre-tax realized investment losses and other than temporary impairment …
May 7, 2009
Zurich Financial Services reported that its first quarter net income decreased by 75 percent to $362 million, compared to the $1.427 billion it earned in the same quarter of 2008. Business operating profit fell by 40 percent to, $1.061 billion …