Standard & Poor’s Ratings Services has placed its “A” long-term counterparty credit and insurer financial strength ratings on Luxembourg-based marine insurer British Marine Luxembourg S.A. (BM) on CreditWatch with positive implications. “The CreditWatch placement reflects the expected change to BM’s …
A.M. Best Co. has assigned a financial strength rating (FSR) of “A-” (Excellent) and an issuer credit rating (ICR) of “a-” to Singapore-based Asia Capital Reinsurance Group Pte. Ltd. (ACR) with a stable outlook. “ACR will operate as a Singapore-based …
A.M. Best Co. has affirmed the financial strength rating of “A-” (Excellent) and the issuer credit rating of “a-” of The West of England Ship Owners Mutual Insurance Association (Luxembourg) (WOE or the Club). The outlook for both ratings is …
Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings on Swiss Reinsurance Co. and its core entities to “AA-” from “AA” following the closure of its acquisition GE Insurance Solutions Corp. (GEIS) (See …
A.M. Best Co. has affirmed the financial strength rating of “B++” (Very Good) and the issuer credit rating of “bbb+” of Luxembourg domiciled Electro Re S.A., the reinsurance subsidiary of France’s Alcatel Group, with a stable outlook. “The rating action …
A.M. Best Co. announced that it has downgraded the financial strength rating of Luxembourg-based West of England Ship Owners Mutual Insurance Association (WOE or the Club) to “A-” (Excellent) from “A” (Excellent) and assigned an issuer credit rating of “a-“. …
Swiss Re announced that 50 percent of its existing shareholders have subscribed for the new shares issued pursuant to its “at-market rights offering” (See IJ Website April 27). “As a result of the substantial take-up by Swiss Re’s existing shareholders, …
Swiss Re announced the launch of its planned $1 billion rights issue to fund its purchase of GE Insurance Solutions (GEIS). In addition, the company provided further information on its forthcoming hybrid capital offerings. The company stressed that no public …
A.M. Best Co. announced that it has assigned a financial strength rating of “A-” (Excellent) and an issuer credit rating (ICR) of “a-” to Luxembourg-based Casiopea Re S.A., the reinsurance captive of Spanish communications provider Telefonica S.A. The outlook on …
In a recently issued bulletin Lloyd’s said it has “reaffirmed its position as the world’s leading specialist insurer with new figures that reveal the global spread of its business in 2005.” According to newly published figures, Lloyd’s notes that in …
