A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and the issuer credit rating (ICR) of “a-” of SCOR S.E. (France) and its rated subsidiaries. Best also affirmed the senior debt and subordinated debt either issued …
A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A-‘ (Excellent) from ‘B++’ (Good) and the issuer credit rating (ICR) to “a-“from “bbb+” of Cyprus-based Alliance International Reinsurance Public Company Limited (Alliance Re). The outlook for the FSR …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Park Assurance Company of Burlington, VT, both with stable outlooks. “The ratings reflect Park’s strong balance sheet, excellent liquidity and conservative …
Quarterly profits nosedived by nearly 99 percent at Boston-based Liberty Mutual group, which saw its third quarter earnings fall to $6 million – down from $404 million in the same quarter last year. “Given the circumstances, we are pleased with …
Allianz’s Dresdner Bank unit posted its biggest quarterly loss since the start of the financial crisis, the insurer said on Monday, pushing the group to a €2 billion ($2.58 billion) net loss. Allianz is selling Dresdner Bank, which had a …
Standard & Poor’s Ratings Services has said that its ratings and outlook on Germany’s global reinsurer Munich Reinsurance Co. (current ‘AA-‘ Stable outlook) and related core entities “are unaffected by the marked decline in the group’s third-quarter earnings” (See related …
Bermuda-based Validus Holdings Limited reported a net loss for the quarter ended September 30, 2008 of $126.3 million, or $1.71 per diluted common share, compared with net income of $136.5 million, or $1.90 per diluted common share, for the quarter …
Bermuda-based Allied World Assurance Company Holdings reported a net loss of $46.4 million, or $0.95 per diluted share, for the third quarter of 2008 compared to net income of $109.0 million, or $1.72 per diluted share, for the third quarter …
Bermuda-based CastlePoint Holdings reported a net loss of $13.2 million and basic and diluted loss per share of $0.34 for the third quarter of 2008 as compared to third quarter 2007 net income of $10.5 million and diluted earnings per …
Giant financially-troubled insurer American International Group Inc. posted its largest-ever quarterly loss today– $24.47 billion — as the damage from write-downs on assets related to subprime mortgages continued and losses from catastrophes hit home. The third-quarter $24.47 billion ner loss …
