Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings on Atradius Credit Insurance N.V., Atradius Reinsurance Ltd., Atradius Trade Credit Insurance Inc., and Compañía Española de Seguros y Reaseguros de Crédito y Caución …
Fitch Ratings announced that it is “continuing its evaluation of insurance ratings globally, focusing on the impact of declines in investment portfolio market values, and other market pressures, related to the current recessionary economic environment.” Fitch had previously moved its …
A.M. Best Co. has commented that the financial strength rating of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of ING Canada Group (the Group) are unchanged following the announcement by ING Canada Inc. that its major shareholder, The …
French bank BNP Paribas and stricken Belgian financial group Fortis have agreed to revisions to the latter’s carve-up on Friday in a bid to convince Fortis investors angered by the initial terms to accept the deal. The Belgian government, which …
Willis Group Holdings announced that Adam Garrard has been appointed CEO of Willis Continental Europe and Bill Donovan has been named to succeed him as CEO for Willis Australasia. The appointments were effective January 1, 2009. Both executives will report …
Swiss insurer Zurich Financial Services Group, a serial acquirer in recent years, is not letting tighter credit markets hamper its pursuit of acquisitions, a company executive said on Monday. “Zurich is definitely in a position where it can consider acquisitions,” …
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 …
Standard & Poor’s Ratings Services said today that it has revised its outlooks on ING Groep N.V., ING Verzekeringen N.V., ING Bank N.V., and certain related entities to negative from stable. S&P also affirmed its ‘AA-/A-1+’ counterparty credit ratings on …
Standard & Poor’s Ratings Services has revised its outlook on Netherlands-based Eureko B.V. and related core subsidiaries to negative from stable. S&P also affirmed the ‘A-‘ long-term counterparty credit rating on Eureko B.V. and the ‘A+’ long-term counterparty credit and …
Standard & Poor’s Ratings Services has revised to negative from stable its outlook on Atradius Credit Insurance N.V., Atradius Reinsurance Ltd., Atradius Trade Credit Insurance Inc., and Compañía Española de Seguros y Reaseguros de Crédito y Caución S.A.–the core operating …
