Standard & Poor’s Ratings Services announced that it has assigned its ‘AA-‘ financial strength and long-term counterparty ratings to Tokio Marine & Nichido Fire Insurance Co. Ltd. with a stable outlook. “The rating action follows the inauguration of the new …
Aspen Insurance Holdings Limited announced from its Bermuda headquarters the next stages in the development of its corporate strategy as it expands its business in Bermuda and further diversifies its operations. “In accordance with its strategy to build a balanced …
The Bermuda-based PXRE Group Ltd. said that, while it was too early to give definitive estimates of its losses from the recent hurricanes and typhoons, they would have an impact on the property catastrophe reinsurer’s 2004 results. President and CEO …
France’s SCOR Group estimates that the total gross cost of the cost of the hurricanes in the United States and in the Caribbean, Charley, Frances and Ivan, to be 22.5 million euros million ($27.5 million). SCOR noted that the estimates …
Swiss Re announced that, based on current estimates, it expects its claims related to Hurricane Ivan and Typhoon Songda to be approximately $300 million before tax. The bulletin noted that these estimates are in addition to the estimated $290 million …
The Hartford Financial Services Group, Inc. will present an overview of the company’s Japan operations on Wednesday, September 22, from 3 p.m. to 5 p.m. in Tokyo. Presentations by Greg Boyko, senior vice president in charge of The Hartford’s international …
This is the second in a series of articles on the Asia insurance marketplace. The next article in this series will focus on Japan and will appear in an October issue of Insurance Journal. An ancient Indian parable tells the …
Standard & Poor’s Ratings Services announced that it has raised its financial strength and long-term counterparty ratings on Japan’s Nisshin Fire & Marine Insurance Co. Ltd. to “BBB” from “BBB-“, reflecting “steady progress as scheduled in a business and capital …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) of Sompo Japan Insurance Inc. with a negative outlook. “The rating reflects the company’s superior market profile, stable profit structure and improvement in capitalization,” said …
Members of the National Association of Insurance Commissioners (NAIC) have elected a slate of three new officers in interim elections held during the 2004 NAIC Fall National Meeting. Pennsylvania Insurance Commissioner Diane Koken is the new NAIC president, Oregon Insurance …
