A.M. Best Co. has affirmed the financial strength rating of A (Excellent) of the insurance subsidiaries of OneBeacon Insurance Group, Boston. A.M. Best also affirmed the indicative shelf registration ratings for Fund American Companies Inc. These affirmations follow the completion …
Standard & Poor’s Ratings Services, commenting on Hartford Fire Insurance Co.’s (Hartford Fire) second-quarter earnings, said that the outlook for the company and related property/casualty entities remains negative despite the prospects for improved earnings throughout the remainder of 2002. The …
In the wake of the Sept. 11 attack on the World Trade Center in New York City, the American Society of Workers Comp Professionals Inc. (AMCOMP) assembled the Workers’ Compensation Mental Stress Council to study the impact of stress claims …
Bermuda-based XL Capital Ltd. will add $200 million to its reserves for Sept. 11 terrorism losses and will record an added $120 million second-quarter loss from investments in telecommunications and other companies. The $200 million reserve boost includes $135 million …
Bermuda-based reinsurer PartnerRe Ltd.has affirmed its loss estimate of $400 million from the destruction of the World Trade Center on Sept. 11. The company reported it was making the announcement in response to requests for information.
The world’s oldest underwriter, Lloyd’s of London, announced its intention to unveil final details of a plan to modernize the world’s oldest insurance market. According to Reuters, however, those plans will first be revised to appease the market’s wealthy controlling …
French reinsurer Scor has no plans to pump up its existing reserves to pay for World Trade Center or U.S. liability reinsurance claims, according to Reuters. The news organization reported that Scor CEO Jacques Blondeau said the company had no …
A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) of the insurance operating subsidiaries of the Alea group. The affirmation is based upon the excellent level of consolidated risk-based capital and financial flexibility, improved underlying operating performance …
Missouri workers’ compensation rates for most businesses have risen an average of 6.7 percent this year, based on data through mid-June, according to the Missouri Department of Insurance. Filings with that agency show 56 companies have implemented rate reductions averaging …
At its Insurance 2002 conference in New York recently, Standard and Poor’s offered little consolation to insurance agents and brokers who are looking for quick relief from the pressures of the current hard market. The consensus emerging from the discussion …
