France’s AXA Group announced today that it has entered into a memorandum of understanding with SNS Reaal, a Dutch financial-services company, leading to final discussions on the sale of its principal Dutch insurance operations for €1.75 billion ($2.35 billion). These …
Standard & Poor’s Ratings Services has affirmed its “A+” insurer financial strength and counterparty credit ratings on the core operating entities of Australia’s QBE Group. S&P also affirmed its “A-” insurer financial strength and counterparty credit ratings on the group’s …
Experts say market conditions in the property/casualty insurance and reinsurance sector indicate the hard market, however short, is now over, and the industry is witnessing the beginning of the pricing cycle’s downside. But these same experts say this downside may …
The statutory surplus for property and casualty insurers is at a record $488 billion, according to the CEO of one Dallas-based regional carrier, and they are going to be looking for somewhere to put that cash to work. Mergers and …
The statutory surplus for property and casualty insurers is at a record $488 billion, according to the CEO of one Dallas-based regional insurer, and they are going to be looking for somewhere to put that cash to work. Mergers and …
Swiss Re announced that it has obtained $100 million of protection against earthquake risk in Turkey, Greece, Israel, Portugal and Cyprus through a securitization – the first time the capital markets have been tapped to cover this type of risk …
A.M. Best Co. has affirmed the financial strength rating (FSR) of “A” (Excellent) and the issuer credit ratings (ICR) of “a+” of the Safeco Insurance Companies and its members. Best has also affirmed the ICR of “bbb+” and the debt …
Standard & Poor’s Ratings Services has revised its outlook on PartnerRe Ltd. and its operating subsidiaries– Partner Reinsurance Co. Ltd., PartnerRe S.A., and Partner Reinsurance Co. of U.S. (collectively, PRE) to stable from negative. S&P also affirmed its “A” counterparty …
A.M. Best Co. has upgraded the financial strength rating (FSR) to “B” (Fair) from “C++” (Marginal) and the issuer credit ratings (ICR) to “bb” from “b” of the Republic Western Insurance Group, which consists of Republic Western Insurance Company of …
A.M Best Co. has issued a special report on the Bermuda insurance market, which, among other analyses, compares the disastrous 2005 hurricane season with the startlingly benign one in 2006. Between the two Best notes that the “Bermuda market reported …
