A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) of Germany’s Allianz AG and its core subsidiaries, and has assigned an issuer credit rating of “aa-” to these companies, which reflect its opinion, “expressed …
According to the findings of a survey commissioned by The Insurance Leadership Institute of GE Insurance Solutions, independently conducted by Tillinghast, European insurers are becoming increasingly concerned by the growth of tort claims litigation. The results of the survey were …
Standard & Poor’s Ratings Services announced that it has revised to stable from negative its outlook on Assicurazioni Generali SpA, the parent and main property-casualty company of the pan-European insurance group Generali, and related entities. S&P also affirmed the Group’s …
A federal appeals court Aug. 30 upheld the conviction of a lawyer who tried to sink his $1.9-million yacht and then sought nearly double the price in insurance payments. The court upheld the conviction of Rex DeGeorge for conspiracy, mail …
A little more than a year ago, Britain’s Prince William celebrated his 21st birthday with a costume party at Windsor Castle. While William was addressing the partying crowd, a stranger wearing a black beard, white turban and pink dress and …
Research amongst European and U.S. Risk Managers concludes that within the next five years over half will be using alternative risk financing as a key part of their risk programs, according to ACE European Group. “This apparent trend has emerged …
The California-based PMI Group, Inc. announced that its wholly owned subsidiary, PMI Mortgage Insurance Company Limited (PMI Europe), has received regulatory approval to operate an Italian branch. PMI Europe’s office in Italy can now offer its array of products covering …
Standard & Poor’s Ratings Services announced that it has lowered its long-term sovereign credit ratings on the Republic of Italy to “AA-” from “AA”, due to the deterioration of public finances both in 2004 and beyond. In a separate bulletin …
AIG United Guaranty, whose affiliate companies provide mortgage guaranty insurance, announced plans to expand both its European and Asian operations as part of its “international growth program.” It has appointed a number of senior executives to head the expansions. In …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) of Spain’s Mapfre Asistencia Compania Internacional de Seguros y Reaseguros SA with a stable outlook. “The rating reflects the company’s strategic importance to its ultimate …
