A.M. Best Co. has affirmed the Best’s syndicate rating of “A-” of Lloyd’s syndicate 1243, which is managed by Euclidian Underwriting Limited, U.K. The outlook is stable. The rating reflects the financial strength of the Lloyd’s market, which underpins the …
Standard & Poor’s Ratings Services placed its “AA+” counterparty credit and financial strength ratings on Employers Reinsurance Corp. and its wholly owned subsidiaries (collectively referred to as ERC) on CreditWatch with negative implications following parent General Electric Co.’s announcement that …
The property/casualty industry saw a gain in the number of rating downgrades issued by A.M. Best Co. for the second consecutive year, according to the special report, “Rating Downgrades Outpace Upgrades Despite Improved Pricing,” released by A.M. Best. Rating activity …
Bermuda-based IPC Holdings, Ltd. joined the growing number of reinsurers celebrating a good third quarter, as the company announced that its net operating income, which excludes net realized gains and losses, was $46.6 million or $0.97 per share, for the …
Swiss Re and the other insurers involved in the World Trade Center coverage dispute with master leaseholder Silverstein Properties, have released the comprehensive engineering study they commissioned to determine the causes of the twin towers’ collapse following the Sept. 11 …
A federal judge ruled Sept. 25 that the attacks on the World Trade Center last September resulted in “one occurrence” under a policy form used by a trio of insurers of the destroyed complex, according to a Dow Jones report. …
The property/casualty industry saw a gain in the number of rating downgrades issued by A.M. Best Co. for the second consecutive year, according to the special report, “Rating Downgrades Outpace Upgrades Despite Improved Pricing,” released by A.M. Best. Rating activity …
Standard & Poor’s has placed its double-‘A’-plus counterparty credit and financial strength ratings on Employers Reinsurance Corp. and its wholly owned subsidiaries (collectively referred to as ERC) on CreditWatch with negative implications following parent General Electric Co.’s announcement that ERC’s …
A Court in Butler County, Ohio sentenced Ajay Chawla to serve one year in jail and pay a $1,500 fine following his conviction last August on charges of filing an insurance claim with CNA, stating that his father was missing …
Consolidated Edison Co. of New York and a group of its insurers sued the Port Authority of New York and New Jersey recently in search of more than $314.5 million for damages to a substation that was demolished in the …
