A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A+’ (Superior) from ‘A’ (Excellent) and issuer credit ratings (ICR) to “aa-” from “a” of The Hartford Steam Boiler Group and its members (together, known as HSB Group). All …
U.S. life insurers, already weakened by the global financial crisis, are expected to report their worst-ever quarterly results in the coming weeks, stoking expectations that federal funds will be needed to prevent the sector from becoming the next casualty of …
Ping An Insurance (Group) Co. of China Ltd will keep an open attitude on plans to restructure financial group Fortis and welcomes a better plan for shareholders, its president Louis Cheung said on Thursday. Cheung told a news conference that …
Moody’s Investors Service cut its credit ratings on Berkshire Hathaway Inc from Aaa, the top rating, saying the recession and investment losses at insurance operations of investor Warren Buffett’s holding company reduced its ability to support funding needs. Wednesday’s cut …
Standard & Poor’s Ratings Services has revised its outlook to negative from stable on Franch composite insurer Groupama S.A. S&P also affirmed the Group’s ‘A+’ long-term counterparty and insurer financial strength ratings. “The negative outlook reflects our view of the …
The California Workers’ Compensation Appeals Board recently ruled on two permanent disability (PD) workers’ compensation insurance cases that physicians are not necessarily bound by the American Medical Association’s “Guides to the Evaluation of Permanent Impairment” portion of the 2005 Schedule …
Standard & Poor’s Ratings Services has affirmed its ‘A-‘ counterparty credit and financial strength ratings on Netherlands-based commercial lines insurer Fortis Corporate Insurance N.V. (FCI). S&P has also removed these ratings from CreditWatch with developing implications, where they were placed …
Marsh & McLennan Cos. paid out more than $33 million in compensation to its two chief executives that oversaw the company in 2008, according to an Associated Press calculation of figures disclosed in a regulatory filing last Thursday. Michael G. …
Insurance agencies are like snowflakes, no two are alike. Most of the calls from prospective insurance agency sellers start with, “What are agencies selling for these days?” or, “What kind of multiple can I expect if I sell my agency?” …
As indicated in the previous article, Validus Holdings has made an unsolicited offer to combine with IPC Holdings Ltd. in response to the Agreement and Plan of Amalgamation between IPC and Max Capital Group Ltd. Standard & Poor’s Ratings Services …
