A.M. Best Co. has downgraded the financial strength ratings (FSR) to ‘A’ (Excellent) from ‘A+’ (Superior) and the issuer credit ratings (ICR) to “a+” from “aa-” of the key life/health (Hartford Life) insurance subsidiaries of The Hartford Financial Services Group, …
A.M. Best Co. has downgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A+’ (Superior) and issuer credit ratings (ICR) to “a+” from “aa-” of Swiss Reinsurance Company Limited and its subsidiaries. Best also downgraded the ratings for all …
American International Group Inc. posted a $61.7 billion fourth-quarter loss — its fifth consecutive quarterly loss and the biggest quarterly loss in corporate history. The quarter’s net loss of $61.7 billion compared to a 2007 fourth quarter net loss of …
Standard & Poor’s Ratings Services has stated that its ratings and outlook on Germany’s Allianz SE (AZSE – rated AA/Stable/A-1+) and various core operating entities “are unaffected by the group’s announcement of a €2.4 billion [$ 3.023 billion] net loss …
Standard & Poor’s Ratings Services has placed its ‘BBB-‘ counterparty credit rating on Max Capital Group Ltd. on CreditWatch with positive implications following the company’s announcement that it will merge with IPC Holdings Ltd., a leading provider of property catastrophe …
A.M. Best Co. has upgraded the financial strength ratings (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and the issuer credit ratings (ICR) to “a” from “a-” of the rated UK operating subsidiaries of the UK’s RSA Insurance Group plc. Best …
A.M. Best Co. has downgraded the issuer credit rating (ICR) to “bbb” from “bbb+” and affirmed the financial strength rating (FSR) of B++ (Good) of Wolverine Mutual Insurance Co. of Dowagiac, Michigan. The rating agency’s outlook for the FSR has …
American International Group Inc.’s asset management business has attracted corporate and private equity buyers with initial bids coming in around $500 million, sources familiar with the matter said. The asset management business being sold rests within AIG Investments, which had …
Zurich Financial Services AG will find this year tougher than 2008, when profit fell 47 percent, a senior executive of the Swiss insurer said on Wednesday. Patrick O’Sullivan, vice chairman of the management board and chief growth officer, said Zurich …
Louisiana-based Amerisafe Inc., a writer of high hazard workers’ compensation insurance, said its fourth-quarter profit fell 69 percent due to $13.4 million in realized capital losses. Net income for the quarter dropped to $5.7 million, or 28 cents per share, …
