Brit Insurance, a diversified UK-based insurer posted lower profits for 2008, but still managed a respectable £89.2 million ($125 million), compared to £191.2 million ($267 million) in 2007. The Company’s earnings bulletin also announced that it is considering moving its …
Hartford Financial Services Group Inc. is in talks to sell most of its life insurance subsidiary to Sun Life Financial Inc. of Canada, Bloomberg News reported, citing anonymous people. Splitting the Hartford, Conn.-based insurer in two and unloading most of …
Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings on Atradius Credit Insurance N.V., Atradius Reinsurance Ltd., Atradius Trade Credit Insurance Inc., and Compañía Española de Seguros y Reaseguros de Crédito y Caución …
Standard & Poor’s Ratings Services has said that its “ratings and outlook on Germany-based global reinsurer Munich Reinsurance Co. (AA-/Stable/–) and core related entities (collectively Munich Re) are unaffected by Munich Re’s withdrawal of its 2010 earnings target” [See IJ …
A.M. Best Co. said it is “maintaining a stable outlook in 2009 for the global reinsurance sector for the third consecutive year. This current outlook implies that the majority of 2009 reinsurer rating actions are likely to be affirmations with …
The rating agency A.M. Best Co. said it continues to view the outlook for both the U.S. personal and commercial lines markets as stable. Despite the ongoing soft period in the cycle in commercial lines, a contracting economy and the …
Standard & Poor’s Ratings Services has lowered its counterparty credit rating on Hartford Financial Services Group Inc. (HIG) to ‘BBB’ from ‘BBB+’ and its counterparty credit and financial strength ratings on all of HIG’s life (Hartford Life) and property/casualty (Hartford …
Standard & Poor’s Ratings Services has said that its rating actions on American International Group Inc. and its insurance subsidiaries “have no effect on the ratings on Transatlantic Holdings Inc. (TRH – ‘BBB+’/Stable/–) or any of TRH’s operating subsidiaries.” These …
Munich Re has dropped its medium-term earnings per share goal and declined to give a profit forecast for 2009 amid financial market turmoil. “For 2009 and 2010… the investment result will be well below the long-term target of 4.5 percent. …
A.M. Best Co. has removed from under review with negative implications and affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer ratings (ICR) of “a-” of the new York-based Tower Group Companies and its pooled members. Best also …
