June 2, 2011
Standard & Poor’s has affirmed its ‘A’ counterparty credit and financial strength ratings on Platinum Underwriters Reinsurance Inc. and Platinum Underwriters Bermuda Ltd. (collectively referred to as Platinum). S&P also affirmed its ‘BBB+’ counterparty credit rating on Platinum Underwriters Holdings …
May 31, 2011
A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” for Minnesota-based Benchmark Insurance Company. Best said the rating affirmation reflects Benchmark’s “adequate level …
May 27, 2011
Standard & Poor’s Ratings Services has lowered its rating on the Class 2009-1 notes issued by Residential Reinsurance 2009 Ltd. to ‘B+(sf)’ from ‘BB-(sf)’. S&P explained that the rating action “is related to the changes in AIR Worldwide Corp.’s model …
May 26, 2011
Standard & Poor’s Ratings Services has published a report, which concludes that the Indian non-life insurance sector has “substantial growth potential because market penetration remained low–leaving significant room for further growth.” S&P’s article – “The Indian Non-Life Insurance Sector Is …
May 18, 2011
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Mexico’s Mapfre Tepeyac S.A., both with stable outlooks. The ratings reflect Mapfre Tepeyac’s “solid balance sheet, growing market presence and adequate …
May 12, 2011
A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A+’ (Superior) from’ B++’ (Good) and the issuer credit ratings (ICRs) to “aa-” from “bbb” of Keystone Insurance Company and its subsidiaries, AAA Mid-Atlantic Insurance Company (AAA MAIC) and …
May 12, 2011
Standard & Poor’s Ratings Services has revised its outlook on New York-based Navigators Group Inc. and its insurance units to negative from stable. S&P also affirmed its ‘BBB’ counterparty credit rating on Navigators Group Inc. and its ‘A’ counterparty credit …
May 2, 2011
In an article published on its web site Standard & Poor’s Ratings Services said it has outlined its “updated enterprise risk management (ERM) opinions for all of its rated North American and Bermudan insurance companies. “An insurer’s ERM program is …
April 27, 2011
Standard and Poor’s threatened to cut Japan’s sovereign credit rating again, warning the huge cost of last month’s devastating earthquake will hurt already weak public finances unless bickering politicians can agree to raise taxes. It affirmed its long-term sovereign credit …
April 19, 2011
Standard & Poor’s has issued a corrective statement concerning one of the cat bond ratings listed in the bulletin it issued on April 18. The Series 2011-1 Class A notes, rated BB+ (sf)/Watch Neg BB+ (sf) issued by Foundation Re …