Standard & Poor’s Ratings Services announced that it has assigned its “AA-” insurer financial strength rating to London-based Mitsui Sumitomo Insurance (London) Ltd. (MSIL). The outlook is stable. “The rating on MSIL is supported by a guarantee provided by Japan-based …
AIR Worldwide Corporation (AIR) announced it has performed the risk modeling and analysis in support of a private placement by Helix 04 Limited, a Bermuda special purpose exempted company. The five year, $100 million transaction provides catastrophe cover to Converium …
A.M. Best Co. announced that it has withdrawn the financial strength rating of “B++” (Very Good) of Unum Japan Accident Insurance Co. Ltd. following the change in ownership to Hitachi Capital Corporation. “UnumProvident Corporation sold Unum Japan to Hitachi Capital …
Representatives from the Federal Emergency Management Agency (FEMA) are touring storm damaged counties in Kentucky today to determine if the commonwealth qualifies for federal disaster relief. The Governor’s Office and Kentucky Emergency Management officials are drafting a letter that will …
Standard & Poor’s Ratings Services has issued a report on the unconsolidated financial results of Japan’s 10 major non-life insurers for fiscal 2003 (ended March 31, 2004), indicating that they are “within its expectations and will not affect its ratings …
A.M. Best Co. announced that it has downgraded the financial strength rating to “A-” (Excellent) from “A” (Excellent) of new York-based NIPPONKOA Insurance Company of America, with a stable outlook. “The downgrade reflects A.M. Best’s opinion that NKA is no …
Net U.S. investment in Europe has slowed considerably in the past decade, J. Bradford DeLong, professor of economics at the University of California at Berkeley, told directors of RiskProNet International Inc., at recent conference. At home, he said, the U.S. …
Deloitte & Touche LLP, a national professional services firms, has named Byron Spruell national leader of its Business Insurance Consulting (BIC) group. In addition, Greg Thaler has been named associate national director of the BIC practice. Spruell, based in Houston …
In a classic “good news/bad news” situation, France’s AXA Group reported first quarter consolidated revenues of 20 billion euros ($24.1 billion), adjusted for currency fluctuations. The figure indicates a 2.3 percent overall increase. But, on a reported basis this turns …
Standard & Poor’s Ratings Services announced that it has revised the outlooks to stable from negative on its long-term counterparty credit and financial strength ratings on NIPPONKOA Insurance Co. Ltd. (A+/Stable/–) and Aioi Insurance Co. Ltd. (A-/Stable/–), “reflecting the companies’ …
