The administrator of BP Plc’s $20 billion compensation fund has paid $43 million to residents of the U.S Gulf Coast who agree not to sue the company for damages stemming from the nation’s worst offshore oil spill. The spill closed …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Connecticut-based Beazley Insurance Company, Inc. (BICI), both with stable outlooks. These ratings reflect “BICI’s solid stand-alone risk-adjusted capitalization, in addition to …
Peoria, Ill.-based RLI Corp. announcedthat it will acquire Contractors Bonding Insurance Co. (CBIC) through an acquisition of its holding company, Data and Staff Service Co. (DSS) for approximately $137 million in cash. The acquisition is subject to regulatory approval and …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and the issuer credit rating (ICR) of “aa” of Allianz Global Corporate & Specialty AG (AGCS AG). Best also affirmed the FSR of …
Standard & Poor’s Ratings Services has assigned its preliminary ‘BBB+’ senior debt, preliminary ‘BBB’ subordinated debt, preliminary ‘BBB-‘ junior subordinated debt, and preliminary ‘BBB-‘ preferred stock ratings to Aspen Insurance Holdings Ltd.’s recently filed universal shelf registration program. The ratings …
A.M. Best Europe – Rating Services Limited has revised the outlook to negative from stable and affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and the issuer credit rating (ICR) of “a-” of Luxembourg-based The West of England Ship …
The world’s top three insurance brokers have joined reinsurer Munich Re to promote a major expansion in risk coverage for deepwater drilling in the wake of BP’s disastrous Gulf of Mexico spill last April. Their goal is to expand liability …
A.M. Best Co. has affirmed the financial strength ratings (FSR) and issuer credit ratings (ICR) of the property/casualty and life/health subsidiaries of American International Group, Inc. as well as the ICR of “bbb” of AIG. The FSR’s of most of …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a” of UK-based Ecclesiastical Insurance Office plc. Best also affirmed the debt rating of “bbb” on …
A.M. Best Europe – Rating Services Limited has placed under review with negative implications the financial strength rating of ‘B+’ (Good) and issuer credit rating of “bbb-” of Ukraine’s Lemma Insurance Company. Best explained that the rating action “reflects the …
