A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating (ICR) of “a-” of the Bermuda-based Through Transport Mutual Insurance Association Limited (TTB), and its wholly owned subsidiary, the UK-based TT Club Mutual …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of the United Arab Emirates-based Gulf Reinsurance Limited with stable outlooks. “The ratings reflect the company’s excellent projected risk-adjusted capitalization, good projected …
Foreign navies have agreed to protect a vessel installing an undersea high-speed Internet cable from pirates off the coast of Somalia, a Kenyan minister said on Thursday. Sea gangs from lawless Somalia have been increasingly striking the Indian Ocean shipping …
Standard & Poor’s Ratings Services has said that its “ratings and outlook on Germany-based global reinsurer Munich Reinsurance Co. (AA-/Stable/–) and core related entities (collectively Munich Re) are unaffected by Munich Re’s withdrawal of its 2010 earnings target” [See IJ …
Zurich Financial Services Group announced that it has signed an agreement to establish a joint venture company with United Arab Emirates (UAE)-based Abu Dhabi National Takaful Company PSC (TAKAFUL) and create a new family takaful business. The new insurance company, …
Standard & Poor’s Ratings Services has affirmed its ‘BBB-‘ counterparty credit ratings on Max Capital Group Ltd. and Max USA Holdings Ltd. The outlook on both companies remains positive. “The counterparty credit rating on Max Capital reflects its good competitive …
HSBC Insurance Brokers Limited announced that it has established a branch office and received regulatory approval from the Qatar Financial Center (QFC) Authority to provide insurance broking services to corporate customers within The State of Qatar. Steve Bonynge, Managing Director …
According to a recently released report from Marsh, “insurance rates across most lines of business in the Europe, Middle East and Africa (EMEA) region continued to soften in the first half of 2008.” However, “the report also identified trends being …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating (ICR) of “a-” of SALAMA Islamic Arab Insurance Company (P.S.C.), which is based in the United Arab Emirates. The outlook for both ratings …
Standard & Poor’s Ratings Services has lowered its counterparty credit and insurer financial strength ratings on the UK-based Congregational & General Insurance PLC to ‘BB+’ from ‘BBB-‘. S&P also placed its ‘BB+’ rating on the company on CreditWatch with negative …
