Standard & Poor’s Ratings Services has assigned its ‘BBB+’ rating on Medical Insurance Australia Pty Ltd., a national medical indemnity insurer and the largest in South Australia, with a stable outlook. “The rating, which represents good financial security, is the …
A.M. Best Co. has downgraded the financial strength rating (FSR) to ‘B+’ (Good) from B++ (Good) and assigned issuer credit ratings (ICR) of “bbb-” to The Hingham Group and its members – Hingham Mutual Fire Insurance Company and its wholly …
Maybe money can’t buy happiness, but it can certainly improve the bottom line. Munich Re has just announced a €3.348 billion ($4.843 billion) profit for the first nine months of 2007, a 17.5 percent increase, which puts it on track …
The Bermuda-based Max Capital Group Ltd. will hold an investment community conference call today, November 5, 2007, at 10 o’clock a.m. Eastern Time, to discuss the Company’s third-quarter 2007 financial results with interested investors and shareholders. Chairman and CEO W. …
Bermuda-based Aspen Insurance Holdings reported record results for the third quarter of 2007. The Company gave the following highlights: from the earnings report: — Record third quarter net income of $117.2 million and nine months net income of $353.8 million, …
Bermuda’s Endurance Specialty Holdings Ltd. reported net income of $131.4 million and $1.81 per diluted common share for the third quarter of 2007 versus net income of $128.2 million and $1.74 per diluted common share in the third quarter of …
A.M. Best Co has commented that the issuer credit rating (ICR) of “a” of Mapfre S.A. (formerly Corporacion Mapfre S.A., the holding company of Spain’s Mapfre Group) “remains unchanged following the announcement that Mapfre intends to acquire Commerce Group (currently …
Insurance brokerage Aon Corp., faced by fierce competition and falling rates, said Wednesday it will cut 2,700 jobs as part of a restructuring plan that will eventually save it about $240 million a year. The elimination of about 6 percent …
Standard & Poor’s Ratings Services has published “Cycle Downturn Doesn’t Have To Mean Plummeting Profits For Savvy Reinsurers.” The study examines the situation after 2006, which is seen as the “peak underwriting year in the current reinsurance cycle.” S&P has …
Bermuda’s RenaissanceRe Holdings Ltd. reported $167.8 million in third quarter operating income, which excludes capital gains/losses, available to common shareholders compared to $247.0 million in the third quarter of 2006. RenRe specified that the figure does not include “net unrealized …
