A.M. Best Co. has placed under review with developing implications the issuer credit rating (ICR) of “bbb+” and the debt ratings of The Hartford Financial Services Group, Inc., as well as the ICRs of “a+” and the financial strength rating …
A report on Arizona’s property/casualty insurers issued on Thursday shows a drop in written premiums to $7.4 billion, and a large increase in losses incurred to $6.4 billion for 2010. The report, from the Arizona Insurance Council, shows these and …
A report from the FUNDACIÓN MAPFRE, which analyzed 19 Latin American countries, concludes that the Latin American insurance market “achieved in 2010 a 19.3 percent rise in premium volumes compared to the preceding year, reaching €91.370 billion [$120.15 billion], confirming …
The insurance segment of XL Group plc announced the appointment of Jason Harris as Chief Executive of its International P&C Insurance business. He will be based in London and report to Greg Hendrick, CEO of XL’s insurance segment. Upon joining …
France’s AXA S.A. has again topped the list of the world’s 25 largest insurance companies, based on premiums written, compiled by A.M. Best. The lists, which were compiled both on asset value and on net premiums written, reflects the dominance …
As 2011 winds down, Canadian property and casualty (P&C) insurers can “list some notable lows and highs during the year, including unusually large catastrophe losses from wildfires in Slave Lake, Alta., and improved performance in the Ontario auto segment, thanks …
Torus Insurance announced that it has “enhanced its offering in Europe with the appointment of Brian Byrnes as Senior Underwriter for General Property and Marco Sonntag as Senior Underwriter for Casualty.” They are based primarily in Torus’ Cologne office, and …
European insurers Allianz and AXA SA are among the potential bidders for HSBC Holdings Plc’s sale of its general insurance business, which could fetch more than $1 billion, sources familiar with the matter told Reuters. HSBC , Europe’s biggest bank, …
A new report from A.M. Best notes that “intense competition and the effect of the weak economic climate on investment returns and loss experience continue to put pressure on U.K. non-life insurers’ financial performance. “Results for 2010 also provided further …
France’s AXA Group announced that it has successfully completed the sale of its Canadian operations in Property & Casualty and Life & Savings insurance to Intact Financial Corporation for a total cash consideration of C$2.6 billion (€1.9 billion; US$2.524 billion). …
