A.M. Best Europe – Rating Services Limited has placed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit rating (ICR) of “a-” of Bermuda-based Omega Specialty Insurance Company Limited (OSIL) and the ICR of “bbb” of Omega Insurance …
Standard & Poor’s Ratings Services has placed its ‘B- (sf)’ rating on Montana Re Ltd.’s Class E notes on CreditWatch with negative implications. The notes, totaling $210 million, were originally placed at the end of December 2010 by Flagstone Re. …
Standard & Poor’s Ratings Services has conducted a detailed analysis of 15 Japanese P/C insurers, and has made several adjustments in its ratings following the earthquake and tsunami, which hit the country on March 11. S&P has revised the outlooks …
Standard & Poor’s Ratings Services said that its ‘BB+(sf)’ rating on Topiary Capital Ltd.’s Series 2008-1 notes will remain on CreditWatch, where it was placed on March 18, 2011, with negative implications. S&P explained that the “calculation agent, RMS, is …
A.M. Best Co. announced that it has recently “assigned its first rating to a captive domiciled in Asia, as the global practice of major corporations self insuring through captives shows further signs of establishing itself in the major insurance markets …
Standard & Poor’s Ratings Services has stated that the ratings on “Berkshire Hathaway Inc. (BRK; AA+/Stable/A-1+) and its insurance subsidiaries are unaffected by BRK’s announcement that it has agreed to acquire specialty chemical manufacturer Lubrizol Corp. in a cash transaction,” …
A.M. Best Co. has affirmed the financial strength ratings of ‘B++’ (Good) and issuer credit ratings of “bbb” of National General Insurance Corporation (NAGICO) N.V. (NAGICO) (St. Maarten) and Nagico Insurance Company Limited (NICL) (Anguilla). The outlook for all ratings …
Standard & Poor’s Tokyo office has issued a comment noting that by some estimates the total damages from the March 11 Japanese earthquake and the fires and tsunami that followed “could hit at least $100 billion, with $35 billion in …
A.M. Best Co. has issued a bulletin indicating that it does not “expect an immediate rating impact on Japanese non-life insurers and reinsurers due to the March 11, 2011 earthquake in Japan. However, the capitalization level will decrease by a …
Fitch Ratings has issued a bulletin, indicating that it “believes that while the 11 March earthquake in Japan will be among the largest insured losses in history, such losses can be absorbed by the insurance and reinsurance industries without widespread …
