Aon Corp. has completed its $1.43 billion acquisition of Benfield Group Limited, creating Aon Benfield, reinsurance intermediary and capital advisor, which will launch on Dec. 1. “The completion of this transaction marks an important milestone in the history of our …
Insurers Increasingly Concerned Over Growing Threat of Attacks Yo, ho, ho and a tanker of oil – Pirates of the Caribbean they’re not. Today’s descendants of the marauders of the Spanish Main operate from “mother ships” in fast, well-equipped and …
AIR Worldwide Corporation has released the AIR Inland Flood Model for Great Britain. “The new probabilistic model will help companies better manage on-and-off flood plain risk for properties in England, Wales, and Scotland,” said the announcement. “It covers residential and …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating of “a-” of Malaysian Reinsurance Berhad (Malaysian Re), both with stable outlooks. “The ratings reflect Malaysian Re’s stable and excellent underwriting performance, conservative …
Standard & Poor’s Ratings Services has affirmed its ‘BBB+’ counterparty credit and senior unsecured debt ratings on Aon Corp. and has removed the ratings from CreditWatch, where they had been placed with negative implications on Aug. 22, 2008. The outlook …
Pressures that could harden the property and casualty insurance market loom over insurance carriers entering into the final weeks of 2008, says a new industry report by the global insurance broker Lockton. In its Fall 2008 Market Update, a snapshot …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating of “a-” of South Korea’s Hyundai Marine & Fire Insurance Co., Ltd. (HMFI) with stable outlooks. Best said: “The ratings reflect the company’s …
Fear of conflict, instability, crime and increasing state intervention arising from the financial crisis might sound like good news for political risk consultancies that have sprung up in recent years — but in reality the industry is feeling the crunch, …
Standard & Poor’s Ratings Services has assigned its ‘A+’ financial strength rating to ACE Insurance (Switzerland) Ltd. (AISL), a newly formed subsidiary of Switzerland-based insurance and reinsurance holding company ACE Ltd. S&P also affirmed its ‘A-‘ counterparty credit rating on …
Swiss Re has completed the acquisition of Barclays Life Assurance Company Ltd. for a cash purchase price of £762 million ($1.235 billion). Swiss Re noted that the transaction was first announced on August 5, 2008 and that it has now …
