A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Liberty Mutual Insurance Companies and Liberty Insurance Holdings and their members. All of the companies are subsidiaries of Liberty …
Traffic crashes cost American motorists more than $160 billion a year while inflicting a staggering per-person toll on small cities such as Little Rock, Ark., Columbia, S.C., and Pensacola, Fla., according to a AAA research report. The study found that …
Bermuda-based Hiscox Ltd. posted a strong profit gain in 2007. Results, released yesterday, March 3, showed a record setting £237.2 million ($471 million) pretax profit, compared to £201.1 million ($399.5 million) in 2006. Other financial highlights included the following: — …
Standard & Poor’s Ratings Services has revised its outlook on U.K.-based Novae – Syndicate 2007 to positive from stable. S&P also affirmed its Lloyd’s Syndicate Assessment (LSA) of ‘2+’ (high dependency) on the syndicate. The revision reflects S& P’s “expectation …
UK insurer Aviva beat forecasts with a one percent rise in 2007 profit, as strong growth in life sales offset the heavy cost of Britain’s summer floods. The Group aims to double earnings per share by 2012. Britain’s largest insurer, …
Swiss Re, the world’s biggest reinsurer, made better than expected 2007 net profit, as it escaped further subprime writedowns in the fourth quarter, and gave a confident earnings outlook. It reported on Friday a smaller than expected 9 percent drop …
Warren Buffett’s Berkshire Hathaway Inc. said Friday quarterly profit fell 18 percent, hurt by lower earnings from insurance underwriting and a decrease in investment gains. In his annual letter to Berkshire shareholders, Buffett said insurance earnings may remain under pressure, …
France’s AXA Group reported strong results for 2007. The earnings release cited the growth in underlying earnings up 27 percent to €4.963 billion [$7.5 billion] (up 15 percent on a comparable basis). Adjusted earnings up 22 percent to €6.138 billion …
A.M. Best Co. has issued an analysis of the global reinsurance sector, indicating that it will maintain an overall “stable outlook” for 2008 for the second consecutive year. “The affirmation of the sector’s outlook reflects generally strong balance sheets, continued …
For many in the coastal town of Cordova, Alaska, the 1989 Exxon Valdez disaster was an event so crushing that hard-bitten fishermen still get teary-eyed recalling ruined livelihoods, broken marriages and suicides. But mostly, people in Cordova talk about the …
