A.M. Best Co. has withdrawn the financial strength rating (FSR) of ‘B++’ (Good) and issuer credit rating (ICR) of “bbb” of German insurer Wuerttembergische und Badische Versicherungs-AG (WUEBA) and assigned an NR-5 (Not Formally Followed) to the FSR and an …
Standard & Poor’s Ratings Services has assigned its ‘A-‘ issue credit rating to Lincoln National Corp.’s (LNC) $300 million issuance of senior notes. S&P also affirmed its ‘AA-‘ counterparty credit and financial strength ratings on LNC’s life insurance operations (Lincoln) …
A.M. Best Co. has downgraded the financial strength rating to ‘B++’ (Good) from ‘A-‘ (Excellent) and the issuer credit rating (ICR) to “bbb+” from “a-” of Novae Insurance Company Limited (NICL) and placed the ratings under review with negative implications. …
Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings on United Arab Emirates (UAE)-based composite insurer Oman Insurance Co. (PSC) to ‘BBB’ from ‘BBB+’. The ratings remain on CreditWatch with negative implications, where …
Standard & Poor’s Ratings Services has raised its long-term counterparty credit and insurer financial strength ratings on the core and guaranteed operating subsidiaries of the Swiss-based reinsurance group PARIS RE Group, including PARIS RE S.A. and PARIS RE Switzerland Ltd., …
Swiss Re announced that it has entered into a transaction with Successor X Ltd. a Cayman Islands exempted company financed through the offering of insurance-linked securities, to receive up to $150 million of payments. They would be triggered in the …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and the issuer credit rating (ICR) of “a-” of South Korea’s Hyundai Marine & Fire Insurance Co., Ltd. (HMFI) both with stable outlooks. “The ratings reflect the …
A Dallas and New Orleans-based hurricane restoration company that has been subject to numerous lawsuits since Hurricane Katrina, and several of the company’s executives, have been charged by the Securities and Exchange Commission with accounting fraud. The SEC alleges Home …
A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A-” (Excellent) from’ B++’ (Good) and issuer credit rating (ICR) to “a-” from “bbb+” of SGI CANADA Insurance Services Limited (SCISL). Best also upgraded the FSR to ‘A-‘ (Excellent) …
A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Bermuda-based BNY Trade Insurance Ltd. Best said the ratings’ revisions reflect BNY Trade’s …
