Standard & Poor’s Ratings Services has issued an analysis of the U.K. motor insurance industry’s reported results, which concludes that “healthy reported numbers continue to hide high releases from prior-year reserves.” “The stable performance indicated by the headline results, as …
Fireman’s Fund Insurance Company, the California-based U.S. operations of Germany’s Allianz SE, announced that it is expanding its operation with the opening of a London office, “which offers film underwriting to European production companies.” Ian Mercer, an insurance executive with …
Standard & Poor’s Ratings Services has revised its outlook on French reinsurer SCOR SE and its guaranteed subsidiaries (collectively SCOR or the group), to positive from stable. SCOR regained an ‘A-‘ rating from S&P in Sept. 2007, following completion of …
The Bermuda-based Catlin Group Limited announced that it is sponsoring a major scientific expedition to capture vitally needed data for scientists studying the impact of global warming on the Arctic ice cap. “The project – to be known as the …
Marsh & McLennan Cos. Inc. , the world’s largest insurance brokerage by market value, is not planning to make a counterbid for U.K.-listed reinsurance broker Benfield Group Ltd, a Marsh spokeswoman said Tuesday. “MMC has no interest in putting forward …
The Modernization of Lloyd’s and the London Market Any institution — and there aren’t many — that survives and thrives for 320 years must find ways to adapt to changing conditions. Lloyd’s of London’s transformation offers some insights as to …
Chubb: Understand Local Culture and Rely on Local Staff When Abroad Chubb Insurance, founded in 1882 in New York, today sells in 28 countries and has about 120 offices throughout North America, Europe, South America and the Pacific Rim, serving …
A.M. Best Co. has removed from under review with negative implications and affirmed the debt rating of “bb+” on $350 million non-cumulative perpetual preferred securities (preferred securities) issued by Stoneheath Re (issuer), a Cayman Islands exempted company. The assigned rating …
Standard & Poor’s Ratings Services has placed its ‘BBB+’ counterparty credit rating on Aon Corp. on CreditWatch with negative implications, following the announcement that Aon has “signed a definitive agreement to acquire unrated, U.K.-domiciled (Bermuda incorporated) reinsurance and risk intermediary …
The Derek Hughes/ National Association of Professional Surplus Lines Offices Ltd. Educational Foundation scholarships went to two University of Alabama student. Recipient Aldrich Callins of Birmingham, Ala. has attended college abroad in the United Kingdom, Japan, Botswana and Australia. He …
