More European insurers unveiled writedowns on their investments in a second wave of first-quarter results on Thursday, although some said sales were proving relatively resilient. Analysts said investors were left with something of a mixed picture, with signs of improving …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating of “a-” of Hawaii’s DTRIC Insurance Company Limited, both with stable outlooks. “The ratings,” said Best, “reflect DTRIC’s continued improvement in capitalization, well …
Standard & Poor’s Ratings Services has revised its rating implications to positive from developing on the CreditWatch placement of its ‘BB’ long-term counterparty credit ratings and ‘B’ short-term counterparty credit ratings on Fortis SA/NV and Fortis N.V. (together, “Fortis”), the …
A former Miss West Virginia has won a $7.2 million verdict against nine Internet companies that tried to sell pornographic videos they falsely claimed featured her. A jury in U.S. District Court in Clarksburg last week ordered each defendant to …
The Netherlands ING Group said on Thursday that it plans to divest operations worth up to €8 billion ($10.6 billion) to reduce risk and will focus its banking activities on Europe. ING, which was loss-making in 2008 and got a …
Standard & Poor’s Ratings Services has affirmed its ‘A-‘ counterparty credit and financial strength ratings on Netherlands-based commercial lines insurer Fortis Corporate Insurance N.V. (FCI). S&P has also removed these ratings from CreditWatch with developing implications, where they were placed …
Accounting giant KPMG was hit with a billion-dollar lawsuit Wednesday over claims its “grossly negligent audits” helped trigger the collapse of a top subprime mortgage lender at the start of the U.S. housing crisis. New Century Financial Corp, the largest …
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 …
Kansas City, Mo.-based Westrope has added Joost Hol to its West Coast office in downtown Los Angeles. Joost is a property insurance professional who handled national and international property risks for AIG until 2007. After leaving AIG, he attended the …
Brit Insurance, a diversified UK-based insurer posted lower profits for 2008, but still managed a respectable £89.2 million ($125 million), compared to £191.2 million ($267 million) in 2007. The Company’s earnings bulletin also announced that it is considering moving its …
