June 30, 2009
A.M. Best Co. has commented that the financial strength rating of ‘A ‘(Excellent) and issuer credit ratings of “a” of Bermuda-based IPCRe Limited and IPCRe Europe Limited (Dublin, Ireland), both reinsurance subsidiaries of IPC Holdings Ltd. “remain under review with …
June 26, 2009
The British Retail Consortium (BRC), the leading trade organization for UK retailers, and Willis Limited, the UK arm of Willis Group Holdings, jointly announced the formation of a “strategic alliance that offers a range of bespoke insurance services to BRC …
June 18, 2009
A former business executive was sentenced Tuesday to two years of probation for his role in an accounting scandal that cost shareholders of insurer American International Group Inc. more than $500 million. John Houldsworth, the former chief executive officer of …
June 18, 2009
Standard & Poor’s Ratings Services has assigned its ‘A+’ counterparty credit and financial strength ratings to Everest Reinsurance Co. (Ireland) Ltd. S&P also said the outlook on Everest Re Ireland is stable. S&P noted that Everest Re Ireland is a …
June 10, 2009
Standard & Poor’s Ratings Services announced that it has assigned its ‘BBB+’ long-term counterparty credit rating to Beazley PLC, the Jersey-domiciled and Irish-tax resident, ultimate holding company for the Beazley group. S&P also affirmed the ‘BBB+’ counterparty credit rating on …
June 10, 2009
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of the Bermuda-based Everest Re Group, Ltd.’s reinsurance and insurance subsidiaries. Best also affirmed the ICR of “a-” of Everest …
June 3, 2009
French officials said on Wednesday they might never discover why an Air France aircraft crashed into the Atlantic, killing 228 people, and that they might not even find the plane’s black boxes on the ocean floor. Brazilian and French navy …
June 2, 2009
A.M. Best Co. has affirmed the financial strength ratings of ‘A’ (Excellent) and issuer credit ratings of “a” of Electric Insurance Group and its members – Electric Insurance Company (Beverly, MA), Electric Insurance Ireland Ltd, (Dublin, Ireland) and Electric Lloyd’s …
May 18, 2009
Standard & Poor’s Ratings Services issued a statement that its ratings and outlook on Germany’s Allianz SE (AZSE), currently ‘AA’/Stable/’A-1+’, and various core operating entities “are unaffected by the group’s marginal net income reported for first-quarter 2009.” S&P said its …
May 4, 2009
Joseph Tracy has been named president of Travelers Inland Marine business unit. Tracy, who joined Travelers in 2006, most recently served as chief underwriting officer for the Inland Marine business unit. Prior to joining Travelers, Tracy was the head of …