A.M. Best Co. announced that it has affirmed the financial strength ratings of “A” (Excellent) of Swiss-based Zurich Financial Services Group (ZFS) and its core subsidiaries. It has also assigned an issuer credit rating (ICR) of “a” to each of …
According to the findings of a survey commissioned by The Insurance Leadership Institute of GE Insurance Solutions, independently conducted by Tillinghast, European insurers are becoming increasingly concerned by the growth of tort claims litigation. The results of the survey were …
Boston-based Liberty Mutual Group will further expand its Latin American insurance business with the purchase of the insurance operations of AGF Allianz Chile S.A., a unit of France’s AGF, which is in turn a division of Germany’s Allianz AG. The …
Houston-based HCC Insurance Holdings Inc. announced that Pamela J. Penny, CPA, is joining the company on Aug. 16, 2004, as senior vice president of Finance. Penny has over 27 years of accounting experience including 12 years with KPMG where she …
Research amongst European and U.S. Risk Managers concludes that within the next five years over half will be using alternative risk financing as a key part of their risk programs, according to ACE European Group. “This apparent trend has emerged …
Standard & Poor’s Ratings Services announced that it has lowered its long-term sovereign credit ratings on the Republic of Italy to “AA-” from “AA”, due to the deterioration of public finances both in 2004 and beyond. In a separate bulletin …
AIG United Guaranty, whose affiliate companies provide mortgage guaranty insurance, announced plans to expand both its European and Asian operations as part of its “international growth program.” It has appointed a number of senior executives to head the expansions. In …
Standard & Poor’s Ratings Services announced that it has affirmed its “AA-” long-term counterparty credit and insurer financial strength ratings on Spanish reinsurer Mapfre Re Compania de Reaseguros, S.A. (Mapfre Re) and its U.S.-based subsidiary Mapfre Reinsurance Corp. (MRC). The …
Standard & Poor’s Ratings Services announced that it has affirmed the “AA” long-term counterparty credit and insurer financial strength ratings on Mapfre Mutualidad de Seguros y Reaseguros a Prima Fija (Mapfre Mutualidad), the main operating entity of Spanish insurance group …
A.M. Best Co. announced that it has assigned stand-alone financial strength ratings of “A” (Excellent) to MAPFRE PRAICO Insurance Company (MAPFRE PRAICO) and MAPFRE Pan American Insurance Company (MAPFRE Panam), each a member of the MAPFRE PRAICO Group. All of …
