As the need for U.S. government foreign-based support personnel increases, so does the need for workers’ compensation coverage for contractors involved in U.S. funded projects. Contracts for insurers wanting to provide workers’ compensation coverage for the U.S. citizens and foreign …
Eight lawsuits have been filed against companies involved with the heating system that malfunctioned at the Redstone Apartments near the University of Vermont in January, 2005, killing one person and sickening others. The lawsuits target as many as 10 companies, …
Reno, Nev.-based Employers Holdings Inc. reported net income for the first quarter in 2008 was $25.5 million, down from the $27.9 million earned in the same period in 2007. First quarter net premiums earned declined $13.9 million or 15.5 percent …
The Bermuda-based Catlin Group Limited, which also does business in the U.S. and the Lloyd’s Market, has released an interim earnings statement, following the Company’s Annual General Meeting, indicating that its results were “in line with the outlook for 2008 …
Fitch Ratings has issued a bulletin from its Hong Kong/Singapore offices indicating that “based on preliminary estimates, the earthquake in China is not expected to have a material impact on the balance sheets of the Hong Kong-listed Chinese insurance companies.” …
Cayman Islands-based Greenlight Capital Re, Ltd. has reported a net loss of $4.8 million for the first quarter of 2008 compared to a net loss of $13.1 million for the same period in 2007. On a fully diluted per share …
A.M. Best Co. has affirmed the financial strength rating of ‘B+’ (Good) and issuer credit rating of “bbb-” of Jordan’s Arab Orient Insurance Company with a stable outlook. “The ratings reflect Arab Orient’s strong risk-adjusted capitalization, leading business position in …
Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and senior unsecured debt ratings on Toronto-based specialty insurance provider Kingsway Financial Services Inc. to ‘BB’ from ‘BB+’. S&P also lowered the debt ratings on Kingsway’s subsidiaries to ‘BB’ …
American International Group’s whopping $7.81 billion first quarter loss (See related article) brought an immediate reaction from Standard & Poor’s Ratings Services. S&P has lowered its counterparty credit ratings on AIG, and several of its subsidiaries with ratings that are …
Bermuda-based CastlePoint Holdings, Ltd. reported net income of $9.565 million and basic and diluted earnings per share of $0.25 for the first quarter of 2008. Operating earnings, which exclude capital gains/losses, for the period were $11 million and $0.29 per …
