A.M. Best Co. has assigned an initial financial strength rating of A+ (Superior) to The Nichido Fire and Marine Insurance Company, Ltd., Tokyo, Japan, with a negative outlook. The company has a financial size category of XV. The rating reflects …
Standard & Poor’s Ratings Services announced that it has lowered all insurer financial strength and counterparty credit ratings on the core operating companies of France’s AXA group to ‘AA-‘ from ‘AA’ “reflecting an expected reduction in the group’s 2002 operating …
At Swiss Re’s Year-End Economic and Insurance Industry Review 2002 and Outlook 2003, held mid-December 2002 New York, various speakers discussed the precarious situation most of the world’s major economies and insurance markets find themselves in, and identified possible strategies …
Japan’s Aioi Insurance Co. has filed a lawsuit in North Carolina against Fortress Re and its accounting firm, Deloitte & Touche LLP, alleging improper acts by the privately owned reinsurer’s directors and shareholders in regard to losses it suffered from …
The Paris-based SCOR Group confirmed that it has completed the previously announced subscription and sale of the equivalent of 99 million new shares, raising 381 million Euros ($390 million). The new funds came mostly from European investors – No securities …
France’s SCOR Group announced that the subscription period for the preferential rights related to its capital increase came to an end on Wednesday. The company raised an estimated 381million Euros ($387 million). The offer was not registered, nor were any …
Standard & Poor’s announced that the mid-term financial results for Japan’s major non-life insurance companies were within expectations and would not immediately affect its ratings on the companies. S&P said the overall financial results “reflected prolonged economic stagnancy and intensifying …
France’s AXA earned total revenues of Euro 56.911 billion in the first nine months of the year, compared to Euro 55.539 billion in the same period last year, a 2.5 percent increase. Factoring in exchange rate movements and accounting changes …
More than a year after Sept. 11, the U.S., the European Union (EU) and many other countries are still working on ways to provide adequate insurance coverage for their air carriers. While several plans have been suggested, none are actually …
Insurance Journal senior writer Dave Thomas recently interviewed Michelle Duffett, president of the Professional Liability Underwriting Society (PLUS) and owner of Illinois -based Insight Insurance Services. Duffett is the first female president of PLUS. PLUS will hold its 2002 conference …
