A number of Bermuda-based insurers and reinsurers are due to start publishing their third quarter results at the end of the month. They will detail a combination of losses from the current hurricane season, as well as investment losses and …
The Hartford Financial Services Group Inc. lost nearly $9 billion of market value last week as investors fled the financial sector during the worst crisis in decades. “We’ve got contagion right now” affecting “perfectly fine, sound institutions,” said Walter Dolde, …
Rating analysts are taking a second look at The Hartford Financial Services Group in light of its recent hit on Wall Street, third quarter investment losses and infusion of outside capital. Analysts at A.M. Best Co. have placed the financial …
Swiss Re announced a partnership with Zurich-based CelsiusPro to offer weather risk transfer solutions to European companies. Swiss Re said it would “provide the risk capacity and expertise to support CelsiusPro’s online platform. The partnership allows companies to enter into …
Some analysts cut their ratings on Zurich Financial Services AG on Friday after it wrote down $615 million worth of investments, but said the Swiss insurer was still in relatively good shape. Until now, Europe’s fifth-largest insurer by market value …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit rating (ICR) of “a-” of Flagstone Reassurance Suisse SA, as well as the ICR of “bbb-” of its holding company, Bermuda-based Flagstone Reinsurance Holdings …
Insurance stocks, led by Hartford Financial, Principal Financial and MetLife, fell Thursday after a lawmaker raised the question of whether a well-known insurer could be in financial trouble. The comment stoked investor concerns, already heightened by worries that insurers will …
Underwriting margins in the United Kingdom remain under pressure in 2008, despite positive rate movement in some sectors, according to a report by A.M. Best, which also suggested that the economic downturn could ultimately lead to a turn in the …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a” of Bermuda-based Catlin Insurance Company Limited (CICL), as well as Catlin Insurance Company (UK) Ltd. Catlin Insurance Company, Inc. (CICI) and …
A.M. Best Co. has affirmed the financial strength rating of ‘B++’ (Good) and the issuer credit rating (ICR) of “bbb” of Germany’s SCHWARZMEER UND OSTSEE Versicherungs-Aktiengesellschaft SOVAG (Sovag) with a stable outlook. “The affirmation reflects Sovag’s excellent risk-adjusted capitalization, good …
