May 6, 2008
A.M. Best Co. has revised the outlook to positive from stable for the ratings of New Zealand’s Pacific International Insurance Limited (PII), and has affirmed PII’s financial strength rating of ‘B+’ (Good) and issuer credit rating of “bbb-“. “The rating …
May 5, 2008
A coalition of U.S. insurers is calling on lawmakers to close a tax loophole that helps foreign insurers, and although it has won the support of presidential hopeful Hillary Clinton, it faces a harder task convincing others. The coalition, led …
May 5, 2008
Patrick G. Ryan, founder and executive chairman Aon Corp., said he intends to retire Aug. 1, 2008. Ryan said the firm’s transition to a new management team under CEO Greg Case is complete. Ryan founded Aon, which has its origin …
May 2, 2008
Standard & Poor’s Ratings Services has revised its outlook on Netherlands-based AEGON N.V. and its core subsidiaries to negative from stable. Concurrently S&P affirmed its ‘A+/A-1’ counterparty credit rating on AEGON N.V. and its ‘AA’ long-term counterparty credit and insurer …
April 25, 2008
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 1225 (United Kingdom), which is managed by AEGIS Managing Agency Ltd (AEGIS UK). The outlook for both ratings …
April 21, 2008
Hull & Co., Big Sky Underwriters, Powers & Co. Hull & Co. Inc. acquired substantially all of the assets of Missoula, Mont.-based Big Sky Underwriters Inc. “The people of Big Sky are well respected in the Northwest marketplace,” said Bob …
April 21, 2008
The 10th edition of the European Insurance Forum (EIF), held at Dublin’s Four Seasons Hotel and sponsored by the Dublin Insurance & Management Association (DIMA) April 7-8, focused on some major issues of worldwide concern, as well as the state …
April 16, 2008
Standard & Poor’s Ratings Services said that its ‘A+’ ratings on the core operating entities of QBE Insurance Group Ltd. (currently ‘A-‘ with a stable outlook) are unchanged after QBE’s announcement that Insurance Australia Group Ltd. (rated ‘AA-‘, but on …
April 11, 2008
Bermuda-based XL Insurance, the global insurance operations of XL Capital Ltd., has announced the formation of a global Product Development team to further address customers’ risk management needs. “The team will work with XL Insurance business units, customers, and brokers …
April 10, 2008
Standard & Poor’s Ratings Services’ latest review of the U.K. insurance market – “Insurance Industry Risk Analysis: U.K. Economic Risk Increases But Unlikely To Put Pressure On Non-Life Ratings” – concludes that, “despite the strength of results and ratings, the …