According to findings from a new joint study by Guy Carpenter & Company, Inc. and MMC Securities Corp., the catastrophe bond market experienced substantial growth in 2003, as cat bonds remained an important complement to the reinsurance market. “Total bond …
A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) of The Nichido Fire and Marine Insurance Company Ltd. of Japan and its reinsured affiliate, Nichido Insurance Company (Pacific) Limited (Guam). The outlook has been revised to stable …
Caryn Siebert Caryn Brenna Siebert has been selected as president and CEO of Orange, Calif.-based Carl Warren and Company. Siebert previously served as vice president & national director of claims operations at Safeco Insurance Company. Siebert, an attorney and former …
A recently released Swiss Re Sigma study has concluded that as the complexity of risk increases brokers face a greater demand for their services. The report entitled ‘Commercial insurance and reinsurance brokerage – love thy middleman’, examines developments in the …
Standard & Poor’s Ratings Services announced that it has revised its outlook on Sompo Japan Insurance Co. of America (SJA; A+/Stable/–) to stable from negative. S&P said the “outlook revision followed Standard & Poor’s revision of its outlook on SJA’s …
Standard & Poor’s Ratings Services announced that it has revised the outlooks to stable from negative on its financial strength and long-term counterparty credit ratings on seven Japanese insurance companies. The announcement gave the following details: — Tokio Marine & …
A.M. Best Co. announced that it has affirmed the “A+” (Superior) financial strength rating of Japan’s Mitsui Sumitomo Insurance Company Ltd. with a stable outlook. “The rating reflects Mitsui Sumitomo’s superior capitalization, strong market presence and stable operating performance,” said …
A.M. Best Co. announced that it has affirmed the financial strength rating of “B++” (Very Good) of Japan’s Fuji Fire & Marine Insurance Company, Limited. Best also assigned a financial strength rating of “B++” (Very Good) to Fuji Fire’s wholly …
Mayor Anthony Williams has signed into law a bill enacted by the Council of the District of Columbia that combines the functional operations of the Department of Insurance and Securities Regulation (DISR) with those of the Department of Banking and …
A.M. Best Co. has affirmed the A (Excellent) financial strength rating of NIPPONKOA Insurance Company Ltd (NIPPONKOA) (Japan). The rating outlook is stable. The rating reflects NIPPONKOA’s excellent business profile, secure risk-adjusted capitalization and improvement in insurance results. Adding to …
