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 anticipates an improvement in SMMI’s …
A Japanese supertanker, which triggered fears of an attack in the sensitive Strait of Hormuz oil shipping route, collided with something, possibly a submarine or mine, UAE port officials inspecting the ship said on Thursday. Damage to the massive crude …
A Japanese oil tanker damaged by a freak wave in the Strait of Hormuz, one of the world’s most important shipping lanes, was making its way to a port in the United Arab Emirates on Wednesday. The ship’s owners reported …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a+” of Bermuda-based Heddington Insurance Limited, both with stable outlooks. The ratings reflect Heddington’s “superior capitalization, consistently positive operating results and the role …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating of “a-” of the Bermuda-based Through Transport Mutual Insurance Association Limited (TTB) and its subsidiary, the UK-based TT Club Mutual Insurance Limited (TTI), …
Tropical Cyclone Phet roared toward the coast of Oman and was expected to make landfall late on Thursday at the earliest before barreling toward the oil-exporting Gulf Arab state’s LNG facilities. But Phet, a Category 4 storm with winds of …
The UK-based RSA Insurance Group plc has agreed to acquire Oman-based Al Ahlia Insurance Company SAOC for OMR 19 million (£31 million – $48.36 million) from ONIC. RSA said “Al Ahlia is the third largest insurer in Oman, with gross …
A.M. Best Co. has upgraded the issuer credit rating to “bbb+” from “bbb” and affirmed the financial strength rating of’ B++’ (Good) of Panamanian insurer Compania Internacional de Seguros S.A (CIS)., and has revised its outlook on both ratings to …
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 …
The Marine insurance market continues to face “choppy seas in the wake of the global economic crisis, with a sharp decline in international trade crippling certain sectors of the shipping community, piracy spreading to new regions, and stalled capital markets …
