A.M. Best Co. announced that it has downgraded the financial strength rating to “B+” (Very Good) from “A-” (Excellent) of Centre Solutions (Bermuda) Ltd. and its operating subsidiaries. Best also changed the under review status for all ratings to negative …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) of Zurich Specialties London Limited (ZSL); has removed the rating from under review with negative implications, and has assigned a stable outlook. “The rating reflects …
Risk Management Solutions (RMS), a provider of products and services for the management of catastrophe risk, has completed a review of catastrophe securitizations that were placed in 2003. Considering publicly available sources, the firm estimated that approximately $1.8 billion of …
Bermuda’s XL Capital Ltd. announced that its global Property and Casualty insurance subsidiary, XL Insurance Switzerland (XLIS), is to fund a career education program developed and offered by the Careers Guidance Office of the City of Zurich. The program’s objective …
Skandia announced that the sale of its Japanese operations to Millea Holdings’ subsidiary, The Tokyo Marine & Fire Insurance Co. Ltd., has now been completed after receipt of the customary regulatory approvals. The transaction, valued at 20 billion yen, or …
Bermuda-based White Mountains Insurance Group, Ltd. announced that it has entered into a definitive agreement with ABB Ltd. of Switzerland to acquire the Swedish-based Sirius Insurance Group for 3.22 billion SKr. ($437 million). ABB indicated that it expected to realize …
During the Winter National Meeting in Anaheim, members of the National Association of Insurance Commissioners (NAIC) elected regulators from South Carolina, North Dakota and Oregon to serve as the association’s 2004 officers. South Carolina Insurance Director Ernst Csiszar, current NAIC …
In an effort to enhance economic and intellectual knowledge-sharing between two similar regions, San Francisco and Zurich are coming together to forge the San Francisco-Zurich Initiative (SFZH Initiative). The program, aimed at facilitating and supporting activities that bring together leading …
The second ever bi-annual conference of the Federation of European Risk Management Associations (FERMA), held Oct. 5 – 8 in Rome, Italy, featured presenters and workshops that highlighted both the similarities and the differences between the U.S. and the European …
The second ever bi-annual conference of the Federation of European Risk Management Associations (FERMA), held Oct. 5 – 8 in Rome, Italy, featured presenters and workshops that highlighted both the similarities and the differences between the U.S. and the European …
