A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Navigators Insurance Group, which is comprised of Navigators Insurance Company and its wholly owned and 100 percent reinsured subsidiary, Navigators …
Fortis NV Wednesday postponed a shareholder vote until April 28-29 on the sale of its former banking arm to BNP Paribas SA, casting fresh doubt over whether it can complete the deal. Fortis investors, who blocked BNP’s purchase of 75 …
French bank BNP Paribas said it has called off its plan to buy a stake in Belgium’s Fortis, after the Brussels Court of Appeal decided to suspend the transaction for 65 days. [See IJ web site – https://www.insurancejournal.com/news/international/2008/12/16/96333.htm and https://www.insurancejournal.com/news/international/2008/12/15/96289.htm]. …
A.M. Best Co. has downgraded the financial strength rating (FSR) to ‘B+’ (Good) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “bbb-” from “a-” for the Barbados-based Imagine Insurance Company Limited, both with stable outlooks. Best then withdrew the …
A state-led deal to carve up financial group Fortis should be renegotiated following a court ruling that has suspended the transactions, a lawyer for a group of the company’s shareholders said on Sunday. Mischael Modrikamen, representing some 2,000 shareholders, said …
European leaders moved towards agreement on Friday on a multi-billion dollar plan to tackle the global recession and a climate change plan amended to limit impact on struggling industries. Green groups warned that the European Union could forfeit its credibility …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating of “a-” of South Korea’s Hyundai Marine & Fire Insurance Co., Ltd. (HMFI) with stable outlooks. Best said: “The ratings reflect the company’s …
Aon announced that part of its White Rock operation, described as a “unique group of insurance and reinsurance vehicles with operations in key domiciles including Bermuda, Gibraltar, Guernsey and Luxembourg,” has been redomiciled. The move only affects White Rock Insurance …
One of Pat Oliphant’s more recent editorial cartoons shows presidential candidate John McCain held in the trunk of an enraged elephant labeled “The Economy.” “My friends,” says McCain to a bewildered Barack Obama and Sarah Palin, “kindly pay no attention …
The Federation of European Risk Management Associations (FERMA) has issued a bulletin welcoming the vote by the European Parliament on October 7, which endorsed a “vast majority of the special amendments regarding the special status of captive insurance and reinsurance …
