A.M. Best Europe – Rating Services Limited has downgraded the financial strength rating (FSR) to ‘B++’ (Good) from ‘A-‘ (Excellent) and the issuer credit rating (ICR) to “bbb+” from “a-” of UK-based Brit Insurance Limited (BIL), and has kept the …
A.M. Best Co. has affirmed the issuer credit rating (ICR) of “bbb” and the unsecured debt and preferred equity ratings of Fairfax Financial Holdings Limited. Best also affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and ICRs of “a” …
A.M. Best Co. has assigned a debt rating of “a+” to the recently issued CHF 320 million [$350 million] 7.25 percent perpetual subordinated notes with a stock settlement issued by Swiss Reinsurance Company Ltd., and has assigned a stable outlook. …
Thai Reinsurance Pcl expects to post a net loss for a second year in 2012 as the country’s leading reinsurer is hit by higher provisions from flooding last year that have pushed up insurance premiums for natural disasters, a top …
Fairfax Financial Holdings, the property and casualty insurer run by investment guru Prem Watsa, said on Thursday that its fourth-quarter loss widened by 56 percent due to catastrophe claims and losses on the company’s equity hedges. The Toronto-based company lost …
The arrival of the man known as “the Warren Buffett of North” on Research In Motion’s board this week offers a ray of hope to the BlackBerry maker’s impatient shareholders after their disappointment that an insider was named new chief …
Fairfax Financial Holdings Limited announced that it has agreed to acquire approximately 25 percent of the issued and outstanding shares of Thai reinsurer, Thai Reinsurance Public Company Limited, for approximately US$70 million. “As part of the purchase, Fairfax will have …
Fairfax Financial Holdings, which took a 9 percent stake in Bank of Ireland earlier this week, said Thursday its quarterly profit rose from a year earlier due mainly to increases in its stock and bond portfolios. The Toronto-based firm, which …
Toronto-based Fairfax Financial Holdings said Thursday it fell to a fourth-quarter loss as its stock and bond portfolios were hurt by rising interest rates and a decision to hedge investments. The Toronto-based property and casualty insurer lost $364.6 million, or …
A.M. Best has issued a series of ratings announcements relating to Canada’s Fairfax Financial Holdings and its subsidiaries. The bulletins are as follows: A.M. Best Co. has removed from under review with negative implications and downgraded the financial strength rating …
