European insurers were buoyed by strong sales of life insurance and asset management products on the back of a reviving economy in the first quarter, offsetting big disaster damage claims. Germany’s Allianz, Italy’s Assicurazioni Generali, The Netherlands’ Aegon and Belgium’s …
A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of ‘B+’ (Good) and issuer credit rating of “bbb-” of Wisconsin-based Partners Mutual Insurance Company. Best said the negative outlook reflects “Partners’ trend …
A.M. Best Co. has affirmed the financial strength rating (FSR) of A- (Excellent) and issuer credit ratings (ICR) of “a-” of the United Farm Bureau of Indiana Group (the Group) and two members, United Farm Family Mutual Insurance Company (Mutual) …
Europe’s travel industry is counting the cost of air traffic disruption caused by a volcanic ash cloud which forced thousands of flights to be cancelled and is braced for more stoppages this month. British travel company TUI Travel and low-cost …
A.M. Best Co. has affirmed the financial strength rating (FSR) of A- (Excellent) and issuer credit ratings (ICR) of “a-” of Hallmark Insurance Group (Hallmark Group) of Fort Worth, Texas, and its operating members. Additionally, A.M. Best affirmed the ICR …
Munich Re achieved a consolidated profit of €485 million ($633 million) in the first quarter of 2010, slightly ahead of the €437 million ($571 million) in the same period last year. The earnings bulletin explained that “large gains from the …
A.M. Best Co. has issued three separate bulletins announcing that it has removed a number of Berkshire Hathaway’s insurance companies from the “under review with negative implications” status it announced in November. The companies directly affected are: Seaworthy Insurance Company …
Bermuda-based Flagstone Reinsurance Holdings Limited joined a number of reinsurers with diminished results for the first quarter of 2010. The Company reported net operating income of $12.1 million, compared to $31.3 million in Q1, 2009, a 61.4 percent drop. However, …
Bermuda-based PartnerRe Ltd. reported net income of $79.7 million, or $0.85 per share on a fully diluted basis for the first quarter of 2010; the figure includes net after-tax realized and unrealized gains on investments of $110.6 million, or $1.33 …
American International Group Inc. turned a quarterly profit after a year-ago loss as the bailed-out insurer got a boost from its investments and general insurance operations appeared to stabilize. Chartis, the general insurance business, saw net premiums decline, but AIG …
