“In a massive reversal of fortunes, P&I clubs [Protection & Indemnity] have seen a collective investment return of $619 million for the year ending 20 February 2010, compared with a more than $800 million loss in the 2008/9 policy year,” …
The ACE Group of insurance and reinsurance companies has agreed to acquire 100 percent of Jerneh Insurance Berhad, a general insurance company in Malaysia that is majority owned by Jerneh Asia Berhad, which is listed on Bursa Malaysia Securities Berhad. …
Standard & Poor’s Ratings Services said that its ratings on Horace Mann Educators Corp. (BBB/Stable/–) and its insurance operating subsidiaries are “unaffected by executive leadership changes within the group.” The company has announced the retirement of President and CEO Louis …
A.M. Best Europe – Ratings Services Limited has affirmed the financial strength ratings of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a” of Aspen Insurance UK Limited (AIUK) and Bermuda-based Aspen Insurance Limited (AIL). Best also affirmed the …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A+’ (Superior) and the issuer credit rating (ICR) of “aa” of UK-based FM Insurance Company Limited (FMI), both with stable outlooks. The affirmation of the ratings …
Standard & Poor’s Ratings Services has raised its counterparty credit and financial strength ratings on American Financial Group’s (AFG) core insurance subsidiaries to ‘A+’ from ‘A’. S&P also raised its counterparty credit rating on American Financial Group to ‘BBB+’ from …
A special report from A.M. Best concludes that the UK non-life market will “remain tough this year, with insurers facing diminishing prior-year reserve redundancies, low investment returns and the uncertain effects of the economic downturn on claims experience.” Best’s report …
A.M. Best Co. has upgraded the financial strength ratings (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit ratings (ICR) to “a” from “a-” of Pennsylvania-based Praetorian Insurance Company and Minnesota-based NAU Country Insurance Company. Both are operating companies …
The Tennessee Supreme Court has reversed precedent and made it easier for workers to sue their employers when they believe they were fired illegally. The court ruled 3-2 that employers must prove that workers’ claims of discrimination or retaliation are …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit ratings of “a-” of Cayman Islands-based United Insurance Company and its subsidiary, United Re (Europe) S.A., domiciled in Luxembourg. The outlook for all of ratings …
