A New York court ruled Aug. 19 that Larry Silverstein, the leaseholder of the World Trade Center, and his insurers should appoint independent appraisers who should make an attempt to come to an agreement on the value of the destroyed …
Despite submitting separate settlement offers to a federal judge in Manhattan, Swiss Re and World Trade Center developer Larry Silverstein have yet to come to an agreement over the amount of compensation insurers and reinsurers owe after the Sept. 11 …
Standard & Poor’s said the outlook for Hartford Fire Insurance Co. and related property/casualty entities remains negative despite the trend toward improved earnings throughout the remainder of 2002. The negative outlook was established after the World Trade Center disaster. It …
Swiss Re announced that there are no circumstances under which World Trade Center leaseholder Larry Silverstein can ever recover more than $3.5 billion of insurance proceeds under the coverage he purchased. Swiss Re’s experts established the true value of Silverstein’s …
Standard & Poor’s said the outlook for Hartford Fire Insurance Co. and related property/casualty entities remains negative despite the trend toward improved earnings throughout the remainder of 2002. The negative outlook was established after the World Trade Center disaster. It …
Aon Corporation said it has resolved all of the comments raised by the Securities and Exchange Commission (SEC) that were extensively outlined in Aon’s Aug. 7 press release. The comments were the result of customary reviews of Aon’s SEC filings. …
Royal & Sun Alliance Insurance Group, the parent of Royal & SunAlliance USA, reported a Group operating result of $458 million for the first half of 2002. The company also announced an underlying operating result of $558 million that excludes …
For the first six months of the year French reinsurer SCOR registered a robust 16 percent rise in premium income at constant exchange rates. The company attributed the rise to improving non-life reinsurance rates and the group’s selective growth policy, …
A.M. Best Co. has affirmed the financial strength rating of A++ (Superior) of Allianz AG Consolidated, Germany. At the same time, A.M. Best has downgraded Allianz’s debt ratings to “aa+” from “aaa.” The outlook is stable. The rating actions reflect …
Swiss Re announced that there are no circumstances under which World Trade Center leaseholder Larry Silverstein can ever recover more than $3.5 billion of insurance proceeds under the coverage he purchased. Swiss Re’s experts established the true value of Silverstein’s …
