Russia will likely see more forest fires, droughts and floods in the coming century due to global warming, and policy makers need to prepare for large-scale change, scientists warned in a report released Wednesday. It also said Russia, famous for …
Standard & Poor’s Ratings Services has announced various ratings actions on several subsidiaries of the American International Group. “These actions follow AIG’s decision to revise or terminate guarantees,” explained credit analyst Rodney Clark. “The guarantees had provided the basis for …
A report from Standard & Poor’s Ratings Services entitled, “Tough Times Will Challenge Russian Insurers In 2009-2010”, published on its RatingsDirect web site, concludes that “Russia’s insurance market is still developing and will come under unprecedented stress in 2009-2010 in …
A.M. Best Co. has withdrawn the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit rating (ICR) of “aa-” of Swiss Reinsurance Company Canada and has assigned a category NR-5 (Not Formally Followed) to the FSR and an “nr” …
The worst financial crisis since the Great Depression served to mute the enthusiasm of previous years as some 2,500 business and political leaders met in the Swiss Alps Wednesday for the World Economic Forum. Economist Stephen Roach gave a grim …
A worker has been killed at a Boston construction site. Boston police said Friday that something heavy fell on the construction worker at the Russia Wharf development site on Congress Street around 10 a.m. The man was taken to Boston …
Swiss insurer Zurich Financial Services Group, a serial acquirer in recent years, is not letting tighter credit markets hamper its pursuit of acquisitions, a company executive said on Monday. “Zurich is definitely in a position where it can consider acquisitions,” …
A.M. Best Co. has downgraded the financial strength rating (FSR) to ‘B+’ (Good) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “bbb-” from “a-” for the Barbados-based Imagine Insurance Company Limited, both with stable outlooks. Best then withdrew the …
Brown & Brown, Conner Strong Florida- based Brown & Brown Inc. said it has agreed to acquire the small business insurance unit of Conner Strong Companies, Inc., which is headquartered in Cherry Hill, New Jersey. The small business insurance unit …
Arthur J. Gallagher The HR Group International insurance broker Arthur J. Gallagher & Co. reported it has acquired The HR Group, LLC of Brentwood, Tennessee. Terms of the transaction were not disclosed. The HR Group offers employee benefits products and …
