Underwriting margins in the United Kingdom remain under pressure in 2008, despite positive rate movement in some sectors, according to a report by A.M. Best, which also suggested that the economic downturn could ultimately lead to a turn in the …
The New York-based Navigators Group announced the hiring of Paul Hennessy as President, Navigators Holdings (UK), Ltd. He will be responsible for Navigators’ operations in Europe, the Middle East and Asia, and will report to Company President and CEO Stan …
A.M. Best Co. has affirmed the issuer credit rating (ICR) of “a” of the non-operating holding company, the UK-based AVIVA plc, and the financial strength rating (FSR) of ‘A+’ (Superior) and ICRs of “aa-” of its rated subsidiaries. Best also …
Standard & Poor’s Ratings Services will hold a telephone conference call today, Thursday, Sept. 18, 2008, at 3 p.m. Eastern Daylight Time to discuss the recent credit events shaking the financial institutions sector. The call will include discussions of “the …
A.M. Best Co. has upgraded the financial strength ratings (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and the issuer credit ratings (ICRs) to “a” from “a-” of Hiscox Insurance Company (Bermuda) Limited, Hiscox Insurance Company Limited (Hisco) and Hiscox Insurance …
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 33, which is managed by Hiscox Syndicates Limited (HSL). Best also affirmed the ICR of “bbb+” of the …
The American Institute for CPCU honored 757 new graduates of the Chartered Property Casualty Underwriter (CPCU program at the 2008 CPCU conferment ceremony in Philadelphia, Pa., the birthplace of the CPCU designation. The 2008 class brings the number of CPCU …
Shares of American International Group Inc. plunged 53 percent Monday as investors grew increasingly nervous after the insurer, once the world’s most valuable insurer by market value, failed to deliver a rescue plan. AIG, hit by $18 billion in losses …
In a new report the Conference Board, a non-profit, business research organization, has concluded “restrictions on greenhouse gas emissions (GHG) are not feasible without significant productivity growth and a transfer of technologies from advanced to emerging economies.” The analysis appears …
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has been honored as the “Re/Insurance Initiative of the Year” at the 2008 Review Worldwide Reinsurance Awards. It’s the first such recognition for the 16-month old facility. A CCRIF bulletin described the ward …
