Standard & Poor’s Ratings Services has revised its outlook on Selective Insurance Group Inc. (SIGI) and its operating subsidiaries (collectively, Selective) to stable from negative. S&P also affirmed its ‘BBB’ counterparty credit rating on SIGI and its ‘A’ counterparty credit …
A.M. Best Co. has downgraded the financial strength rating (FSR) to ‘A-‘ (Excellent) from ‘A’ (Excellent) and the issuer credit rating (ICR) to “a-” from “a” of Macau Insurance Company Limited (MIC). Best also affirmed the FSR of ‘A-‘ (Excellent) …
Protective Life Corporation, of Birmingham, Ala., today announced that its principal subsidiary, Protective Life Insurance Company, has signed an agreement to acquire United Investors Life Insurance Company from Liberty National Life Insurance Company for a purchase price of approximately $316 …
The ACE Group announced that it has “received approval from Malaysia’s financial regulator, the Minister of Finance, through Bank Negara Malaysia, to acquire Jerneh Insurance Berhad, a general insurance company that is majority owned by Jerneh Asia Berhad, an investment …
Florida released a report yesterday listing the market share and earnings of accident and health insurers, and Blue Cross and Blue Shield of Florida, Inc. ranked first in premiums earned, with $3.9 billion in direct premiums earned in 2009. Despite …
A special report from A.M. Best concludes that “robust earnings reports mask challenges ahead for the global reinsurance industry: a convergence of market pressures, low interest rates and tightening financial and market regulations that could impact the industry’s capital. “These …
A study published by Standard & Poor’s Ratings Services – entitled: “Reinsurers Foot The Bill For Chilean Earthquake Losses” – indicates that the global reinsurance industry has “shouldered a significant portion of the economic losses related to the powerful earthquake …
Standard & Poor’s Ratings Services has assigned its ‘BBB+’ senior debt rating to Aon Corp.’s three tranches of recently priced senior debt issues. S&P said it expects that Aon will use the net proceeds from the issues in lieu of …
China will allow insurers to broaden their investment channels into private equity and real estate, a long-awaited move that could unleash as much as $100 billion worth of fresh funding into unlisted firms and the property sector. Chinese insurers are …
The reinsurance sector is vulnerable to a significant insured loss from the Atlantic storm season as their reserve capital has been used to offset low premiums, Fitch Ratings said, as Hurricane Earl threatens to hit land. As Earl lingers as …
