A.M. Best Co. downgraded the financial strength rating of The Toa Reinsurance Company of America (TRA), of Morristown, N.J., to “A” (excellent) from “A+” (superior). The outlook is stable. Concurrently, Best assigned an issuer credit rating of “a+” to TRA …
Standard & Poor’s Ratings Services has issued a report noting that Japanese non-life insurance companies recently released results of for the first half of fiscal 2004, which indicate that underwriting profitability remains under pressure. S&P also noted: “While the impact …
A.M. Best Co. announced that it has downgraded the financial strength rating of The Toa Reinsurance Company of America (TRA), based in Morristown, NJ, to “A” (Excellent) from “A+” (Superior), with a stable outlook. Best also assigned an issuer credit …
Swiss Re’s recently issued report on the 2004 hurricane season stresses that, although the number of storms may have been extraordinary, “the impact on insurers has been controllable through a process of event-based risk analysis.” The Report “The 2004 hurricane …
American International Group, Inc. announced that its subsidiaries American Home Assurance Company and AIU Insurance Company will purchase the insurance portfolio of the Royal & SunAlliance (RSA) branch operations in Japan. The agreed on purchase price of the book of …
France’s AXA announced that its consolidated revenues for the first nine months of 2004 rose 1.1 percent on a comparable basis to 54.4 billion euros ($70.3 billion). Highlights of the report are summarized as follows: – Life & Savings revenues …
A day after Muenchener Rueckversicherungs-Gesellschaft (Munich Re) reported good third quarter and nine-month earnings (See IJ Web site Nov. 9), A.M. Best Co. announced that it has affirmed its “A+” (Superior) financial strength rating on the company and its core …
The strongest earthquake to hit Japan in nine years struck on Saturday near Niigata, about 160 miles (260 km) north of Tokyo. 24 persons reportedly died and another 2000 were injured. The quake measured 6.8 in magnitude on Japan’s modified …
Until Commodore Peary’s visit in 1848, Japan was one of the world’s most isolated countries, and it still remains rather unique. But something in the Japanese character and society enabled it to turn its back on the past almost instantaneously, …
Service Providers at Risk As the United States, Europe, Japan and other developed countries turn from industrial-based to service-based economies, more and more people are engaged in providing services, and the more they provide, the more mistakes they make. Historically …
