Standard & Poor’s Ratings Services announced that its ratings on U.K.-based Aspen Insurance U.K. Ltd. (A/Stable/–), Bermuda-based Aspen Insurance Ltd. (A/Stable/–), and Aspen Insurance Holdings Ltd. (Aspen; BBB+/Stable/–) are unaffected by today’s announcement that Aspen intends to sell about 1.22 …
A.M. Best Co. has removed from under review with developing implications and upgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “a” from “a-” of North Dakota-based Aspen Specialty Insurance Company …
New York Insurance Superintendent Eric Dinallo signed a cooperation agreement earlier this week with his counterpart in Macau, a move signaling the increasingly international approach to regulation for the country’s highest profile state commissioner. The agreement, signed Monday by António …
Standard & Poor’s Ratings Services stated that its ratings on the core operating companies of Italy’s Generali Group (AA/Negative/–) are unaffected by the termination of the agreement relative to the joint venture Intesa Vita, which will not be renewed. “Alleanza …
The European Union has joined the Caribbean Catastrophe Risk Insurance Facility’s (CCRIF) 16 member governments – Canada, the World Bank, the United Kingdom, Bermuda, Ireland, France and the Caribbean Development Bank – in donating to the facility’s reserve pool. The …
William Stovin, president and COO of Markel International, has been going in both directions since 2000. That’s the year its parent, Virginia-based Markel Corp., bought the UK and Lloyd’s insurer Terra Nova. Stovin’s been in charge of both shrinking that …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of Bermuda-based Montpelier Reinsurance Ltd. and Montpelier US Insurance Company (MUSIC), which is based in Oklahoma City. Best also affirmed …
A.M. Best Co. has downgraded the issuer credit rating (ICR) to “a-” from “a” of the non-operating holding company, the UK’s AVIVA plc, and the financial strength rating (FSR) to’ A’ (Excellent) from ‘A+’ (Superior) and the ICRs to “a+” …
The American subsidiary of a United Kingdom-based auto insurer says it’s going to open an operations center and bring 40 to 50 jobs to the Richmond area. Admiral Americas and the Greater Richmond Partnership announced the news. They said the …
The UK’s Aviva PLC, Europe’s biggest provider of life insurance and pension products, booked a net loss for 2008, due to a drop in the value of assets amid the financial crisis, which caused the company’s shares to plunge on …
