Standard & Poor’s Ratings Services and Fitch Ratings have both withdrawn their ratings on CNA Financial Corporation’s insurance subsidiary, Transcontinental Insurance Company, due to its merger on Dec. 31 into its direct parent company, National Fire Insurance Company of Hartford. …
Standard & Poor’s Ratings Services has revised its outlook on HMSC Corp., the intermediate holding company of Swett & Crawford Group Inc., to negative from stable, while also affirming its ‘B’ counterparty credit rating on HMSC. “The revised outlook reflects …
Standard & Poor’s Ratings Services has revised its outlook on San Diego, Calif.-based Arrowhead General Insurance Agency Inc. to negative from stable. At the same time S&P affirmed its ‘B’ counterparty credit rating on Arrowhead as well as its ‘B’ …
Australia’s QBE announced that it has signed a definitive agreement to acquire North Pointe Holdings Corporation, a NASDAQ listed, US-based P/C insurance group. The acquisition is subject to the approval of regulatory authorities and North Pointe’s shareholders. “North Pointe writes …
The start of a new year often brings jokes about crystal balls, but with the arrival of 2008, many investors are ruefully saying they don’t need fortunetelling gimmicks – they know that the problems that made 2007 painful and turbulent …
Washington’s six-month rate holiday, during which employers and workers saved $315 million in workers’ compensation premiums, will end with the arrival of the New Year tonight, according to the state Department of Labor and Industries. For work performed on Jan. …
The debate over climate change captured the world’s attention, including the insurance industry’s, in 2007, while major hurricanes spared the United States’ coastline. The soft market took hold of virtually all segments of the insurance market and even buyers in …
A.M. Best Co. has placed the financial strength rating of ‘B+’ (Good) and the issuer credit rating (ICR) of “bbb-” of Georgia Casualty & Surety Company under review with positive implications. “The rating actions reflect the pending acquisition of this …
The former top executive of RenaissanceRe Holdings Ltd. – who resigned during an SEC probe into his company’s accounting practices – has joined forces with another reinsurance executive to launch a new underwriting management company based in Greenwich, Conn. The …
The U.S. property/casualty insurance industry’s net income after taxes rose 7.1 percent to $49.4 billion through nine-months 2007 from $46.1 billion through nine-months 2006. Fueled by the industry’s net income, policyholders’ surplus — insurers’ net worth measured according to Statutory …
