As indicated in the previous article, Validus Holdings has made an unsolicited offer to combine with IPC Holdings Ltd. in response to the Agreement and Plan of Amalgamation between IPC and Max Capital Group Ltd. Standard & Poor’s Ratings Services …
The Bermuda-based Max Capital Group acknowledged that it has received a copy of Validus Holdings, Ltd.’s unsolicited, stock-for-stock, proposal for IPC Holdings, Ltd. The offer somewhat complicates the planned amalgamation of Max and IPC. Standard & Poor’s Ratings Services issued …
Standard & Poor’s Ratings Services announced that its ratings on U.K.-based Aspen Insurance U.K. Ltd. (A/Stable/–), Bermuda-based Aspen Insurance Ltd. (A/Stable/–), and Aspen Insurance Holdings Ltd. (Aspen; BBB+/Stable/–) are unaffected by today’s announcement that Aspen intends to sell about 1.22 …
Standard & Poor’s Ratings has lowered its counterparty credit and financial strength ratings on Bermuda-based R.V.I. Guaranty Co. Ltd. and its U.S.-based subsidiaries–R.V.I. America Insurance Co. and R.V.I. National Insurance Co.–to ‘BBB’ from ‘A-‘. S&P has also removed the ratings …
A.M. Best Co. has removed from under review with developing implications and upgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “a” from “a-” of North Dakota-based Aspen Specialty Insurance Company …
Standard & Poor’s Ratings Services stated that its ratings on the core operating companies of Italy’s Generali Group (AA/Negative/–) are unaffected by the termination of the agreement relative to the joint venture Intesa Vita, which will not be renewed. “Alleanza …
Berkshire Hathaway Inc. is at risk of losing its “AAA” credit rating from Standard & Poor’s, after the ratings agency revised its outlook on billionaire Warren Buffett’s company to “negative” from “stable.” Citing worsening market conditions that have hurt Berkshire’s …
Standard & Poor’s Ratings Services announced that its insurer financial strength rating and outlook on Lloyd’s (Lloyd’s or the Market; A+/Stable/–) “are unaffected by full-year results reported by the Market for the financial year ended Dec. 31, 2008.” S&P reviewed …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of the Bermuda-based Platinum Underwriters Group and its members. Best also affirmed the ICR of “bbb” of Platinum Underwriters Holdings, …
Standard & Poor’s Ratings Services has revised its outlook on Toronto-based property and casualty insurer ACE INA Insurance (ACE Canada) to positive from stable. S&P also affirmed the long-term ‘A’ financial strength and counterparty credit ratings on the company. “The …
