OneBeacon, QBE OneBeacon Insurance Group completed its renewal rights and asset sale agreement to transfer its agricultural division to QBE the Americas, a division of QBE Insurance Group Ltd., for approximately $32 million. From offices in Kansas, the new division …
A.M. Best Co. has assigned a financial strength rating of “A+” (Superior) and an issuer credit rating of “aa-” to XL Re Europe Limited, the newly formed Dublin-based entity that will handle XL Capital’s European reinsurance platform (See IJ Website …
OneBeacon, QBE OneBeacon Insurance Group completed its renewal rights and asset sale agreement to transfer its agricultural division to QBE the Americas, a wholly owned division of QBE Insurance Group Ltd., for approximately $32 million. From offices in Kansas, the …
A.M. Best Co. has placed the financial strength rating (FSR) of “A” (Excellent) and issuer credit rating (ICR) of “a” of the Bermuda-based Catlin Insurance Company Limited (CICL) under review with negative implications. In addition Best placed the ICR of …
Broadway producers call them “angels:” rich people who put up the money to fund their shows. In that sense, Equitas, the Lloyd’s vehicle set up in 1996 to run off a mountain of asbestos and environmental claims, has just found …
Standard & Poor’s Ratings Services reacted positively to the news that Berkshire Hathaway’s National Indemnity will initially back and could eventually take over Lloyd’s run-off vehicle Equitas Ltd. (See related article) The rating agency revised to positive from stable its …
Standard & Poor’s Rating Services has assigned its “A+” counterparty credit and financial strength ratings to newly created, Dublin-based XL Re Europe Ltd. The new Company will assume all non-life business previously underwritten by the U.K. branch of XL Re …
Swiss-based reinsurer Converium AG has reached agreement with National Indemnity, a Berkshire Hathaway company, to sell its North American operations for $295 million comprised of $95 million in cash and $200 million in assumption of debt. Converium said it “has …
A.M. Best Co. has upgraded the financial strength rating to “A+” (Superior) from “A” (Excellent) and the issuer credit rating (ICR) to “aa-” from “a+” on ACE European Group Limited (AEGL) (United Kingdom). The outlook for both ratings is stable. …
Insurance companies are the litigation champions confronting an average of 1,696 lawsuits, spanning from product liability and environmental class actions to directors and officers claims, and even coverage fights over hurricanes and terrorist attacks, according to a new survey of …
