A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit rating of “a” of Italy’s Societa Cattolica di Assicurazione – Societa Cooperativa. Both ratings gave negative outlooks. Best said the ratings reflect its “expectation …
The worst of the global economic crisis may be yet to come, International Monetary Fund chief Dominique Strauss-Kahn said on Monday. Finance ministers of the Group of Eight nations agreed over the weekend that the global economy was showing encouraging …
Standard & Poor’s Ratings Services has assigned its ‘A’ counterparty credit and financial strength ratings to Arch Reinsurance Europe Underwriting Ltd. (Arch Re Europe), a newly formed Ireland-based operating subsidiary of the Bermuda-based Arch Capital Group Ltd. S&P also said …
The Kazakh unit of AIG said on Tuesday it had no intention of selling its insurance business in the Central Asian state. On Monday, Kazakhstan’s No.1 insurer Eurasia said it had made a formal offer to buy the Kazakh unit …
Standard & Poor’s Ratings Services said that its ratings and outlook on Spain’s Mapfre S.A. (A+/Stable/–; core operating entities Mapfre Empresas, Compania de Seguros y Reaseguros, S.A. and Mapfre Re Compañía de Reaseguros, S.A. are rated AA/Stable/–) and on Massachusetts-based …
Standard & Poor’s Ratings Services commented on an announcement by the Bermuda-based Everest Re Group Ltd. (A-/Negative/–) and related subsidiaries (collectively referred to as Everest). Following its third-quarter earnings release, Everest said it would “be reviewing the asbestos claims notifications …
Italy’s Generali Group has concluded an agreement with PPF Group N.V., an international financial group, headquartered in Amsterdam, Netherlands, which is 95 percent controlled by Petr Kellner, a Czech entrepreneur with a strong track record of success. PPF Group in …
Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings on Kazakhstan-based Eurasia Insurance Co. to “B” from “B+” to equalize with the long-term rating on its new parent, JSC Eurasian Bank. The outlook …
Standard & Poor’s Ratings Services has assigned its “B+” long-term counterparty credit and insurer financial strength ratings and its “kzBBB” Kazakhstan national scale rating to Kazakhstan-based insurer Eurasia Insurance Co. with a stable outlook. “Eurasia is the largest insurance company …
American International Group Inc. announced that its wholly owned subsidiary, Paris-based AIG Europe, S.A., has received approval from the Insurance State Supervision Service of Georgia for the establishment of a branch in Tbilisi, Georgia. “The AIG Companies are well established …
