April 6, 2009
A strong earthquake struck near the central Italian town of L’Aquila early this morning, demolishing buildings and infrastructure. The death toll has already reached 50, but local authorities have indicated that many more people are missing and feared dead. Estimates …
March 27, 2009
XL Insurance, the global insurance operations of XL Capital Ltd., announced that it has appointed Tony Cabot as Director of Global Programs. He will be based in Zurich and will be “responsible for leading the unit that provides multinational clients …
March 27, 2009
Standard & Poor’s Ratings Services stated that its ratings on the core operating companies of Italy’s Generali Group (AA/Negative/–) are unaffected by the termination of the agreement relative to the joint venture Intesa Vita, which will not be renewed. “Alleanza …
March 23, 2009
A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit rating (ICR) of “aa-” of the UK-based ACE European Group Limited (AEGL) with stable outlooks. Best said that it expects “AEGL to maintain strong risk-adjusted …
March 12, 2009
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and the issuer credit rating (ICR) of “aa” of Germany’s Allianz Societas Europaea (Allianz SE) and its main subsidiaries. The outlook for all of the ratings is …
February 3, 2009
A.M. Best Co. has withdrawn the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit rating (ICR) of “aa-” of Swiss Reinsurance Company Canada and has assigned a category NR-5 (Not Formally Followed) to the FSR and an “nr” …
February 2, 2009
Standard & Poor’s Ratings Services announced that it has withdrawn its ‘A-‘ long-term counterparty credit and insurer financial strength ratings on Italy-based composite insurer Aurora Assicurazioni SpA (Aurora), ahead of its merger into the new UGF Assicurazioni SpA on Feb. …
January 30, 2009
A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘B++’ (Good) from ‘B’ (Fair) and issuer credit rating (ICR) to “bbb” from “bb+” of Canada’s Coachman Insurance Company, and has revised the outlook to stable from positive. Best …
January 20, 2009
Standard & Poor’s Ratings Services has revised its outlook on the Lloyd’s Syndicate Assessment (LSA) on Advent Underwriting – Syndicate 0780 to stable from positive. S&P also affirmed the assessment of ‘2’ (high dependency). “The outlook revision reflects the recent …
December 29, 2008
“This year’s climate change agenda has, if nothing else, highlighted that next year will be hard going for those wishing to set global agreement for action against climate change,” states a recent article on Lloyd’s web site (www.lloyds.com). The article …