Fitch Ratings has downgraded the long-term National Scale ratings of 12 insurance companies in Argentina, and has also revised the companies’ rating outlooks to negative from stable. Fitch said it took the rating actions following its Nov. 27 downgrade of …
Fitch Ratings has issued a statement which points out that the “spate of Asia-Pacific catastrophes in the past two years have prompted reinsurers to take stock of their existing portfolio and re-evaluate their underwriting approach and risk appetite.” As a …
Fitch Ratings has affirmed Lloyd’s of London’s Insurer Financial Strength (IFS) rating at ‘A+’, and the Society of Lloyd’s Long-term Issuer Default Rating (IDR) at ‘A’ as well as Lloyd’s Insurance Company (China) Ltd’s IFS rating at ‘A+’. All three …
According to Fitch Ratings, “while insurance industry concerns factored into Tuesday’s downgrade of Bermuda,” it does not expect Bermuda (re)insurers to be affected, “as all our ratings of Bermuda (re)insurers remain below the new sovereign rating, which also has a …
Workers’ compensation, the largest commercial lines segment representing approximately 18 percent of commercial lines net written premiums in 2011, posted a statutory combined ratio of 117 percent in 2011, according to a new report by Fitch Ratings. This result is …
The end in June of the UK government’s agreement with the country’s insurance industry, the Statement of Principles (SoP) agreement, which provides insurance in high flood risk areas, “may prove positive for the UK insurance industry,” according to a report …
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. …
Fitch Ratings said in its new 2012 outlook report that the P/C insurers’ capital position remains strong. It observed that most P/C insurers have sufficient capital to manage through significant future adversity. The New York-based ratings agency has issued a …
Fitch Ratings has affirmed the ratings of Everest Re Group, Ltd.’s debt-issuing holding company, Everest Reinsurance Holdings, Inc. and its subsidiaries. “Everest’s debt ratings are only one notch lower than the operating companies’ Insurer Financial Strength (IFS) ratings, which reflects …
The three major credit-rating agencies won the dismissal of a lawsuit alleging that five Ohio pension funds lost hundreds of millions of dollars on risky mortgage debt because they relied on flawed ratings that made the debt appear safe. U.S. …
