Cayman Islands-based Greenlight Capital Re, Ltd. has reported a net profit of $29.2 million for the fourth quarter of 2007 compared to $17.4 million for the same period in 2006. On a fully diluted per share basis, the company earned …
Fitch Ratings has affirmed its ratings on The Travelers Companies, Inc (TRV). as follows: –Issuer Default Rating (IDR) ‘A+’; –Senior unsecured notes ‘A’ –subordinated notes ‘A-‘; –Insurer financial strength (IFS) on insurance company subsidiaries at ‘AA’. The outlook on all …
Alabama’s Alfa Corp. reported financial results for the 2007 fiscal year, showing a decrease in earnings, mainly due to merger activities. Operating income for the year was $94,225,423, compared with operating income of $103,676,787 in 2006, a decrease of 9.6 …
A special report from Fitch Ratings – “Insurance Industry in El Salvador: Financial Profile Continues to Improve” – concludes that the country’s “insurance industry will continue to improve in 2008, after showing a stronger financial profile in 2007, in terms …
The U.S. workers’ compensation insurance business is not for the faint of heart, according to an article published by Standard & Poor’s Ratings Services. The article, titled “Weakening Rates Could Squeeze U.S. Workers’ Comp Insurers Later This Year,” says the …
In 2007, Texas insurers recorded one of their most profitable years of the decade, prompting some consumer advocates to call for tougher state regulation on homeowner rates. Financial reports released by the Texas Department of Insurance indicated most companies had …
A.M. Best Co. has revised the outlook to positive from stable for the issuer credit rating (ICR) and debt ratings of Germany’s Hannover Rueckversicherung (Hannover Re) and its rated subsidiaries. Best also affirmed these ratings as well as Hannover Re’s …
Shares of American International Group fell as much as 8 percent Thursday on concern the world’s largest insurer could face larger-than-expected losses from a credit derivatives portfolio that has already led it to $11 billion in write-downs. “AIG believes economic …
A.M. Best Co. has withdrawn the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” and assigned a category NR-5 (Not Formally Followed) to Motor Club Insurance Association of Omaha, Nebr. “These rating actions follow …
Germany’s Hannover Re reported excellent result for 2007 with the Group’s net income up 42.6 percent to €733.7 million ($1.144 billion. “We surpassed our profit targets and reported the highest Group net income in our company’s history”, stated an elated …
