December 15, 2009
Standard & Poor’s Ratings Services announced that it withdrew its ‘A’ counterparty credit and financial strength ratings on XL Europe Ltd. on Dec. 10, 2009. “We withdrew the ratings because of the company’s merger and business portfolio transfer, effective Dec. …
December 10, 2009
Bermuda’s Minister of Finance, the Hon. Paula A. Cox, announced that Bermuda had concluded negotiations of a bilateral agreement with Belgium that provide for a full exchange of information on criminal and civil tax matters between Bermuda and the Kingdom …
December 9, 2009
Standard & Poor’s Ratings Services has assigned its ‘A-‘ issue credit rating to Lincoln National Corp.’s (LNC) $300 million issuance of senior notes. S&P also affirmed its ‘AA-‘ counterparty credit and financial strength ratings on LNC’s life insurance operations (Lincoln) …
December 7, 2009
Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings on United Arab Emirates (UAE)-based composite insurer Oman Insurance Co. (PSC) to ‘BBB’ from ‘BBB+’. The ratings remain on CreditWatch with negative implications, where …
November 24, 2009
New research, conducted by Marsh, has found that senior executives in Europe’s leading organizations are most concerned about customer-related risks and access to credit, as they plan their recovery from the global economic downturn. Marsh said the nearly two-thirds of …
November 13, 2009
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” for the subsidiaries of the UK-based non-operating holding company, AVIVA plc. Best also affirmed the ICR of “a-” and the …
November 13, 2009
A.M. Best Co. has affirmed the financial strength rating of A’- (Excellent) and issuer credit rating of “a-” of the UK-based Sunderland Marine Mutual Insurance Company Limited (SMMI), both with stable outlooks. Best said it expects SMMI’s risk-adjusted capitalization “to …
November 10, 2009
Willis Europe BV, a division of Willis Group Holdings Limited, announced the appointment of Niek Post as Chief Executive Officer of its Dutch operations, effective immediately. He is based in Amsterdam and will report to Adam Garrard, CEO, Willis Continental …
November 6, 2009
Mindful that the suburban West Bank of New Orleans has regained its pre-Hurricane Katrina population and is primed for growth, the Army Corps of Engineers is launching a $1 billion effort to keep the next storm at bay. The new …
October 27, 2009
Standard & Poor’s Ratings Services announced various rating actions on ING Groep N.V. and subsidiaries, following completion of the European Commission (EC) investigation into state aid [See IJ web site – . https://www.insurancejournal.com/news/international/2009/10/26/104811.htm]. S&P outlined the rating actions as follows: …