Standard & Poor’s Ratings Services will hold a telephone conference call on Wednesday, Dec. 19, 2007 at 11:00 A.M. Eastern Time (5:00 P.M. -Europe; 4:00 P.M. UK). The conference will feature an overview of S&P’s ratings outlooks for the U.S. …
Next year may just go down on record as one of the best insurance industry underwriting performances in the past 80 years, according to an industry survey of Wall Street stock analysts and industry professionals. Analysts expect the industry’s profitability …
Bermuda-based ACE Limited and Germany’s Munich Re have both signed deals with Aon to purchase part of the international broker’s insurance activities. ACE is buying accident and health provider Combined Insurance Corp. for $2.4 billion in cash. Munich Re is …
Standard & Poor’s Ratings Services has raised its counterparty credit rating on Bermuda-based RenaissanceRe Holdings Ltd. to ‘A’ from ‘A-,’ as well as its counterparty credit and financial strength ratings on Renaissance Reinsurance Ltd. to ‘AA-‘ from ‘A+’. S&P also …
A.M. Best Co. has downgraded the financial strength rating to ‘B’ (Fair) from ‘B++’ (Good) and issuer credit rating to “bb” from “bbb” of Business Alliance Insurance Company (BAIC) of San Bruno, Calif. Best also removed the ratings from under …
A.M. Best Co. has affirmed the financial strength ratings of ‘A-‘ (Excellent) and issuer credit ratings of “a-” of London General Insurance Company Limited (LGI) and London General Life Company Limited (LGL) with a stable outlook for both. Best said …
A.M. Best Co. has assigned an issuer credit rating (ICR) of “a+” and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) of Canada’s Temple Insurance Company; has revised its outlook on the FSR to positive from negative, and equally …
As the turmoil from the subprime crisis ripples across the global credit and equity markets and threatens the stability of the U.S. economy, several insurers have announced their exposure to mortgage-linked assets in their third quarter earnings. Although the majority …
Standard & Poor’s Ratings Services gave the American International Group a vote of confidence as it affirmed AIG’s ‘AA’ long-term counterparty rating and its ‘AA+’ counterparty credit and financial strength ratings on AIG’s core operating subsidiaries. S&P also raised its …
Munich Re held an “Investors’ Day ” in London, yesterday, Dec. 12, which featured a presentation of its strategy regarding for ERGO, its primary insurance business. Munich Re CEO Dr. Nikolaus von Bomhard told investors: “With ERGO, the Munich Re …
