Walls and levees held back the cresting Mississippi River Sunday as requests for government aid poured in from homeowners and businesses swamped by the worst Midwest flooding in 15 years. Across from St. Louis, where the river remained near the …
Two consecutive years of record earnings in the property and casualty insurance industry driven by lower catastrophe losses and healthy investment returns, along with unforeseen risks brought on by the subprime mortgage and credit crises, have created unique conditions in …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a” of the UK-based Markel International Insurance Company Limited (MIICL) with stable outlooks. Best also affirmed Markel’s Lloyd’s Syndicate 3000 – …
Marsh has released key findings from its Financial Institutions – Captive Benchmarking Analysis report, to be published in September. The bulletin described the study as the “most in-depth review of the use of captive insurance companies by global financial institutions.” …
A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A-‘ (Excellent) from ‘B++’ (Good) and issuer credit rating (ICR) to “a-” from “bbb” of American Agri-Business Insurance Company (AA-BIC), and has removed them from under review with positive …
A group of insurers who cover farmers in the event of catastrophe-driven losses are facing their worst claims in 15 years due to flooding in the Midwest, said a Lehman Brothers analyst, who cut second-quarter earnings estimates on some of …
A.M. Best Co. has downgraded the financial strength ratings (FSR) to ‘A+’ (Superior) from ‘A++’ (Superior) and issuer credit ratings (ICR) to “aa” from “aa+” for the domestic life and retirement services subsidiaries of American International Group, Inc. Best also …
Standard & Poor’s Ratings Services has said that its ratings on White Mountains Re Group Ltd. (WMRe) – currently ‘BBB-‘ with a stable outlook – and its operating subsidiaries, Folksamerica Reinsurance Co. and Sirius International Insurance Corp. “are not affected …
A.M. Best Co. has upgraded the financial strength rating to ‘A++’ (Superior) from ‘A+’ (Superior) and the issuer credit rating to “aa+” from “aa” of French government reinsurer Caisse Centrale de Reassurance (CCR), and has assigned stable outlooks to both …
Quarterly earnings from bank insurance brokerage hit their second-highest level in first quarter 2008. Bank insurance brokerage earnings in the first three months of 2008 were $1.078 billion, up 8.6 percent from $993.3 million in the first quarter of 2007 …
