Standard & Poor’s Ratings Services announced that it has assigned its “A-” long-term counterparty credit and insurer financial strength ratings to Denmark’s non-life insurer Codan Forsikrings A/S (Codan Forsikrings) with a stable outlook. “The ratings on Codan Forsikrings reflect its …
Sweden’s Skandia Insurance Company Ltd. announced that it has reached a settlement agreement with its former Chairman, Lars Ramqvist, in a dispute over actions he and other board members took in 2000-01. Under the terms of the agreement, Ramqvist has …
Bermuda-based PartnerRe Ltd. announced that claims relating to its exposure to Windstorm Erwin, which hit Northern Europe in early January, are expected to be between $50-$60 million. Windstorm Erwin battered Northern Europe from Ireland to Russia over the weekend of …
California isn’t alone in trying to cope with deadly weather. Northern Europe has been lashed by the most powerful storm to hit the continent since Lothar and Martin ravaged France, Switzerland and Germany in 1999. This time, due to a …
A severe winter storm, packing winds up to 150 km/hr (94 mph) and heavy rains has paralyzed much of Northern Europe, caused at least 14 deaths, knocked out power over wide areas and severely interrupted sea, air and land transport. …
Germany’s Allianz announced that it has been providing “on the ground” support to customers in Phuket, Thailand, the popular tourist island which was hit by the tsunamis that devastated Southeast Asia. “When Allianz in Thailand heard of the tsunami on …
A.M. Best Co. announced that it has downgraded the financial strength rating to “B++” (Very Good) from “A-” (Excellent) of Tryg-Baltica Insurance, International Insurance Company A/S (TBI) (Denmark) and has placed the rating under review with negative implications. The decision …
Standard & Poor’s Ratings Services announced that it has raised its long-term counterparty credit and insurer financial strength ratings on Sweden’s If P&C Insurance Ltd. and Finland’s If P&C Insurance Co. Ltd., which are both operating entities of the If …
First Acceptance Corporation, Nashville-based retailer, service provider and underwriter of non-standard personal automobile insurance, has announced the election of three new members to the company’s board of directors. Named as new board members were Rhodes R. Bobbitt, 59, of Dallas, …
When Vulcan AMPS LLC dispatched a team of workers to Iraq last fall, managers knew it would be risky. What they didn’t count on was just how much more expensive it would become to insure employees and the company against …
