Standard & Poor’s Ratings Services reported that it lowered its long-term counterparty credit and insurer financial strength ratings on Switzerland-based reinsurer Converium AG and its main operating subsidiaries (collectively referred to as Converium) to “A-” from “A.” In addition, S&P …
Federal emergency management officials have added 13 Indiana counties to the list of those eligible to receive assistance from the late-May storms and more recent flooding, Gov. Joe Kernan said. This brings the total number of counties to 53 that …
French businessman François Marland, who currently resides in Switzerland, has admitted his role in denouncing the actions of Credit Lyonnais (CL) when it acquired California-based Executive Life in 1991. In an interview with Paris Match, reported in Le Monde and …
Guy Carpenter and EQECAT announced their intention to jointly develop the “DACH Flood” software, which they described as “an accumulation tool that will allow users to assess their exposure to flood in Europe using a fully probabilistic modeling approach.” The …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) of Converium AG (Switzerland) and its core subsidiaries. The outlook for all ratings is stable. “The ratings reflect expected improvement in Converium’s consolidated earnings in …
California-based Computer Sciences Corporation announced that it has been selected to enter into due diligence and contractual negotiations for a multi-year information technology (IT) applications outsourcing agreement with Swiss-based Zurich Financial Services. Under the terms of the proposed global agreement, …
A.M. Best Co. affirmed the financial strength rating of “B++” (very good) of Switzerland’s Infrassure Ltd. with a stable outlook. The rating reflects the company’s improving and solid risk-adjusted capitalization, strong market position in its specialist engineering niche and very …
A.M. Best Co. announced that it has affirmed the financial strength rating of “B++” (Very Good) of Switzerland’s Infrassure Ltd. with a stable outlook. “The rating reflects the company’s improving and solid risk-adjusted capitalisation, strong market position in its specialist …
Bermuda-based PartnerRe Ltd. announced that Thomas Renggli has been appointed to head the company’s Finite Reinsurance, Global unit. He will be based in Zurich, Switzerland and will be responsible for the production and management of PartnerRe’s Finite Reinsurance portfolio in …
Bermuda-based AXIS Capital Holdings Limited announced that the underwriters of its secondary offering have exercised their option to purchase an additional 3,000,000 common shares, in full, at a price of $27.91 to cover over-allotments. In a separate announcement A.M. Best …
