November 23, 2009
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a+” of Swiss-based Mondial Assistance International AG (MAI) and its U.S. subsidiary, New York-based Jefferson Insurance Company. The outlook for …
November 20, 2009
A.M. Best Co. has assigned a debt rating of “bbb” to the recently issued $350 million 8.00 percent 30-year senior unsecured notes due 2039 of Transatlantic Holdings, Inc. (TRH) with a stable outlook. Standard & Poor’s Ratings Services assigned the …
November 20, 2009
A.M. Best Co. has affirmed the financial strength ratings (FSR) and issuer credit ratings (ICR) of the P/C and life/health insurance subsidiaries of Assurant, Inc. Best also affirmed the ICR of “bbb” and debt ratings of Assurant. At the same …
November 18, 2009
Munich Reinsurance America, Inc. announced that it now offers a reinsurance product for insurance companies impacted by rising insured losses from ‘local’ natural catastrophes. “The Nat Cat Frequency Cover is designed to protect insurers against the accumulation of losses resulting …
November 18, 2009
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of South Korea’s Dongbu Insurance Company, Ltd., both with stable outlooks. “The ratings reflect Dongbu’s solid market profile, sound underwriting performance and …
November 13, 2009
A.M. Best Co. has affirmed the financial strength rating of A’- (Excellent) and issuer credit rating of “a-” of the UK-based Sunderland Marine Mutual Insurance Company Limited (SMMI), both with stable outlooks. Best said it expects SMMI’s risk-adjusted capitalization “to …
November 9, 2009
AXA Asia Pacific rejected a $10.3 billion bid from parent AXA SA and Australian rival AMP Ltd on Monday, an initial hurdle for the French insurer’s bold ambitions to expand in Asia. AXA SA, Europe’s second-largest insurer it would raise …
November 9, 2009
Bermuda-based Validus Holdings reported net income of $499.2 million, or $5.21 per diluted common share for the three months ended September 30, 2009, compared with a net (loss) of ($126.3) million, or ($1.71) per diluted common share, for the three …
November 9, 2009
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Bahamas-based Royal Star Assurance Limited (RSA), both with stable outlooks. The ratings reflect” RSA’s solid risk-adjusted capitalization, favorable operating results and …
November 6, 2009
American International Group may be a shadow of its former self but for the second straight quarter it has posted a profit. AIG reported net income of $455 million. Third quarter 2009 adjusted net income was $1.9 billion, compared to …