A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of First of Hawaii Group and its members. The outlook for all ratings is stable. (See below for a detailed …
A.M. Best Co. has downgraded the financial strength rating (FSR) to ‘B+’ (Good) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “bbb-” from “a-” for the Barbados-based Imagine Insurance Company Limited, both with stable outlooks. Best then withdrew the …
Standard & Poor’s Ratings Services has lowered its counterparty credit and financial strength ratings on XL Capital Ltd.’s core operating companies to ‘A’ from ‘A+’. S&P also lowered its counterparty credit rating on XL to ‘BBB+’ from ‘A-‘, and indicated …
A former insurance executive was sentenced to two years in prison Tuesday for a scheme that prosecutors said allowed the American International Group to manipulate its financial statements through a sham reinsurance deal eight years ago. Ronald Ferguson, a former …
A.M. Best Co. has assigned a financial strength rating of ‘A’ (Excellent) and an issuer credit rating of “a” to UK-based Liberty Mutual Insurance Europe Limited (LMIE), a part of the Liberty International Underwriters division of Liberty Mutual Group. The …
The deteriorating U.S. economy – with its waves of layoffs, dislocations in the credit and equity markets, and falling home prices – will present a challenge in 2009 for almost every domestic business sector, and insurance is no exception, according …
A.M. Best Co. has affirmed the financial strength rating (FSR) of A (Excellent) and the issuer credit rating (ICR) of “a+” of Zurich Insurance Company (ZIC), the main operating company of Zurich Financial Services (ZFS) and its subsidiaries. Best also …
Standard & Poor’s Ratings Services said today that it has revised its outlooks on ING Groep N.V., ING Verzekeringen N.V., ING Bank N.V., and certain related entities to negative from stable. S&P also affirmed its ‘AA-/A-1+’ counterparty credit ratings on …
Standard & Poor’s Ratings has revised its outlook on Spain’s Mapfre S.A and related core subsidiaries (Mapfre Empresas, Compania de Seguros y Reaseguros, S.A. and Mapfre Re Compañía de Reaseguros, S.A.) to negative from stable. S&P also affirmed its ‘A+’ …
Aon’s specialty group announced from London that it has launched a new insurance policy for charterers, shipowners and cargo owners to cover loss of earnings from a ship being detained by pirates. Aon noted: “There have been over 50 reported …
