Thirty years ago, so many companies flocked to Connecticut that Stamford, a waterfront enclave of about 100,000 residents, became the third-largest center of corporate headquarters in the U.S., behind only New York City and Chicago. Now businesses are lining up …
S&P Global Ratings has revised its outlook on the Society of Lloyd’s to negative from stable, while reaffirming the market’s ‘A+’ insurer financial strength and long-term counterparty credit ratings on Lloyd’s. With estimated net losses of £3.3 billion ($4.4 billion) …
Saudi Arabia’s central bank is preparing tougher rules for insurance companies as part of a drive to create a smaller number of stronger market players operating in the country, two people with direct knowledge of the matter told Reuters. A …
Hartford, Connecticut’s cash-strapped capital city, suffered a fresh round of credit rating downgrades deeper into junk territory by two Wall Street credit agencies on Tuesday, a day after the city’s bond insurers said they were open to debt restructuring. The …
S&P Global Ratings has assigned its ‘A-‘ long-term financial strength rating to Odyssey Re Europe S.A. (ORESA), with a stable outlook. The rating on ORESA is based on an explicit guarantee provided by Odyssey Reinsurance Co., which has an ‘A-‘ …
Things could get rougher for global reinsurers if annual natural catastrophe claims keep moving closer to the long-term average, Standard & Poor’s said in a new report. It turns out that upward trend has been substantial. As indicated by Aon …
Few parts of the U.S. are as exposed to the threats from climate change as Ocean County, New Jersey. It was here in Seaside Heights that Hurricane Sandy flooded an oceanfront amusement park, leaving an inundated roller coaster as an …
A big change in the Ogden rate in the UK and higher natural catastrophe losses are dampening a wide range of Bermuda-based insurer and reinsurer results in the 2017 first quarter, Standard & Poor’s said in a new report. “Unfavorable …
S&P Global Ratings has raised its long-term counterparty credit and financial strength ratings on Aviabel Cie. Belge d’Assurances Aviation to “A” from “A-“, following the completion of its acquisition on April 1 by AXIS Capital. Confirming a stable outlook for …
This year will be a turning point for the U.S. property/casualty (P/C) insurance sector, as rising claims outpace pricing and reserve releases materially decrease, but it will not be a “softer for longer” rate cycle for the sector, according to …
