Standard & Poor’s Ratings Services has assigned its ‘A’ counterparty credit and financial strength ratings to Arch Reinsurance Europe Underwriting Ltd. (Arch Re Europe), a newly formed Ireland-based operating subsidiary of the Bermuda-based Arch Capital Group Ltd. S&P also said …
Munich Re’s third quarter profits fell by 99 percent to €12 million ($15.4 million) compared to the €1.216 billion ($1.555 billion) it recorded in the third quarter of 2007. The Group’s net consolidated results for the first nine months of …
When the U.S. government took over mortgage giants Fannie Mae and Freddie Mac, taxpayers inherited more than just bad debts. They’re also potentially on the hook for tens of millions of dollars in legal fees for the executives at the …
Standard & Poor’s Ratings Services has affirmed its ‘BBB+’ counterparty credit rating on Bermuda-based insurance and reinsurance holding company AXIS Capital Holdings Ltd. and its ‘A’ counterparty credit and financial strength ratings on AXIS Capital’s operating subsidiaries (collectively referred to …
Birmingham, Ala.-based Infinity Property and Casualty Corp., a national provider of personal automobile insurance, reported results for the three and nine months ended Sept. 30. Stronger than expected underwriting results resulted in an increase in Infinity’s operating earnings during the …
Standard & Poor’s Ratings Services said that its ‘AA-‘ insurer financial strength and long-term counterparty credit ratings on Zurich-based global reinsurance group Swiss Reinsurance Company (Swiss Re) are unaffected by the group’s announcement that it made a net loss after …
Bermuda-based Flagstone Reinsurance Holdings Limited announced a net loss available to common shareholders for the quarter ended September 30, 2008 of $(186.5) million, or $(2.18) per diluted share, compared to net income of $66.2 million, or $0.77 per diluted share, …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of American Safety Insurance Group (ASI). Best also affirmed the ICR of “bbb” of ASI’s parent company, Bermuda-based American Safety Insurance …
Swiss Re reported a net loss of CHF 304 million ($259.3 million) for the third quarter of 2008, despite what it described as “good technical results for Property & Casualty.” For the first nine months of 2008 the world’s largest …
The Bermuda-based Max Capital Group reported a net loss for the three months ended September 30, 2008, of $163.2 million, or $2.79 per fully diluted share, compared to net income of $66.8 million, or $1.05 per fully diluted share, for …
