A.M. Best Co. has downgraded the financial strength rating to ‘B++’ (Good) from ‘A-‘ (Excellent) and the issuer credit rating to “bbb+” from “a-” of Hong Kong’s Wing Lung Insurance Company Limited (WLI). The outlook for both ratings is stable. …
A bailout of troubled CL Financial Ltd. by Trinidad and Tobago’s central bank has been having ripple effects across the Caribbean, where regulators are liquidating the sprawling firm’s insurance subsidiaries to protect depositors. The Trinidad-based conglomerate, weakened by bad real …
Standard & Poor’s Ratings Services has placed its ‘BBB-‘ counterparty credit rating on Max Capital Group Ltd. on CreditWatch with positive implications following the company’s announcement that it will merge with IPC Holdings Ltd., a leading provider of property catastrophe …
Standard & Poor’s Ratings Services has issued a comment on its CreditWatch placement of Norway-based non-life insurer ASA (NEMI). The ‘BB’ insurer financial strength and long-term counterparty credit ratings on NEMI remain on CreditWatch with developing implications, where they were …
A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and the issuer credit rating (ICR) of “aa-” of Spain’s MAPFRE RE, Compania de Reaseguros, S.A. with a stable outlook. “The ratings reflect MAPFRE RE’s integral role within …
A.M. Best Co. has affirmed the financial strength rating of ‘B+’ (Good) and issuer credit rating of “bbb-” of Jordan’s Arab Orient Insurance Company with a stable outlook. “The ratings reflect Arab Orient’s strong risk-adjusted capitalization, leading business position in …
A.M. Best Co. has affirmed the Best’s Syndicate Rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 1225 (United Kingdom), which is managed by AEGIS Managing Agency Ltd (AEGIS UK). The outlook for both ratings …
A.M. Best Co. has assigned an issuer credit rating (ICR) of “bbb” and affirmed the financial strength rating (FSR) of B++ (Good) of Jamaica International Insurance Company Limited (JIIC) with a stable outlook. “The ratings reflect JIIC’s favorable capitalization, profitable …
The Atlantic hurricane season has begun. The National Hurricane Center has designated Tropical Storm Dean, with winds up to 80 mph, as the first hurricane and issued a warning that it is headed for the Caribbean’s Lesser Antilles. This morning …
Federal authorities announced they had broken up a suspected Muslim terrorist cell planning a “chilling” attack to destroy John F. Kennedy International Airport, kill thousands of people and trigger an economic catastrophe by blowing up a jet fuel artery that …
