A.M. Best Co. has assigned a financial strength rating of ‘A’ (Excellent) and issuer credit ratings of “a” to China Reinsurance (Group) Corporation (China Re or the Group) and its subsidiaries, China Property & Casualty Reinsurance Company Ltd (CPCR) and …
The recently enacted Dodd-Frank Wall Street Reform and Consumer Protection Act has specific provisions applicable to rating agencies. A comment on the Act’s potential impact from A.M. Best notes that the legislation’s “far-reaching financial market reforms” contain provisions “aimed at …
A comment from Standard & Poor’s Ratings Services notes that the Dodd-Frank Wall Street Reform and Consumer Protection Act “seeks to expand regulation to address many aspects of the financial services sector. Although much of the discussion about this bill …
Standard & Poor’s Ratings Services said today that its ratings on American International Group (AIG; A-/Negative/A-1) and AIG’s insurance subsidiaries (most of which are rated A+/Negative/–) are not affected by the company’s announcement that Robert S. (Steve) Miller has succeeded …
A.M. Best Co. has placed under review with negative implications the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Risk Management Association of Illinois-based Residential Construction Employers Council (RMA). The rating actions reflect Best’s “inability …
A.M. Best Co. has issued two bulletins following the announcement that the Donegal Group has entered into an agreement to acquire all of the outstanding stock of Michigan Insurance Co., a majority-owned stock subsidiary of West Bend Mutual Insurance Co. …
Moody’s downgraded Ireland’s sovereign bond rating by one notch to Aa2 on Monday, citing weaker growth prospects and the high costs of rebuilding the country’s crisis-hit banking system. The rating agency, which cut Ireland from Aa1, said the outlook was …
A.M. Best Co. has downgraded the financial strength rating to ‘B++’ (Good) from ‘A-‘ (Excellent) and the issuer credit rating to “bbb” from “a-” of New Zealand’s Consumer Insurance Services Limited (CISL), both with stable outlooks. The ratings reflect CISL’s” …
Standard & Poor’s Ratings Services said that the ratings on CNA Financial Corp. (BBB-/Stable/–) and its core insurance operating companies (A-/Stable/–) are “unaffected by the company’s announcement that it has entered into an agreement with National Indemnity Co. (NICO; AA+/Stable/–) …
A.M. Best Co. has commented that the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of New York Marine Group and its members and the ICR of ‘”bbb’” of its ultimate holding company, NYMAGIC, …
