December 20, 2013
A report from S&P’s rating services notes that “after revising its insurance criteria earlier this year”, the rating agency “affirmed more than 91 percent of its global ratings, raised 7 percent, and lowered 2 percent. The regional and global differences …
December 13, 2013
Bond risk on QBE Insurance Group Ltd. halved in the first 11 months of the year before surging this month as the company said it would lose money. Credit-default swaps on QBE have climbed 41 basis points since Nov. 30 …
November 27, 2013
The largest U.S. banks may need to pay out up to an additional $105 billion to settle legacy mortgage-related issues, but have a capital cushion that would help them absorb these losses, according to a report by ratings agency Standard …
November 11, 2013
Ratings analysts at Standard & Poor’s say that a Dodd-Frank provision having to do with derivatives could improve insurers’ risk management and have a minor impact on ratings. In response to the financial crisis of 2008, Congress passed the Dodd-Frank …
September 4, 2013
Standard & Poor’s said on Tuesday the U.S. government filed a $5 billion fraud lawsuit against it in “retaliation” for its 2011 decision to strip the country of its “AAA” credit rating. The McGraw Hill Financial Inc unit was the …
July 24, 2013
New requirements that will be imposed on insurers that the Group of 20’s Financial Stability Board has designated to be global systemically important insurers (G-SII) may motivate restructurings of these companies down the road, Standard & Poor’s said in a …
May 29, 2013
Standard & Poor’s Rating Services announced that it has completed a review of Allstate Corp. and, under its revised insurance criteria, has affirmed the ‘A-‘ issuer credit rating on the holding company, ‘AA-‘ financial strength ratings on its core insurance …
May 22, 2013
Standard & Poor’s Ratings Services has affirmed its ‘A-‘ counterparty credit and senior debt ratings on AXIS Capital Holdings Ltd., as well as the ‘A+’ counterparty credit and financial strength ratings on its core operating subsidiaries (collectively, AXIS). The outlook …
April 28, 2013
Moody’s Investors Service and Standard & Poor’s on Friday said they have settled two long-running lawsuits seeking to hold them responsible for misleading investors about the safety of risky debt vehicles that they had rated. The lawsuits had accused Moody’s, …
April 26, 2013
A federal judge handed a legal defeat to Standard & Poor’s, ruling that a lawsuit in which Connecticut accused it of fraudulently inflating credit ratings to win business should be moved back to the state court where it began. In …