Standard & Poor’s Ratings Services lowered its counterparty credit and financial strength ratings on Kuwait’s First Takaful Insurance Co. to ‘BB-‘ from ‘BB+’, and assigned the ratings a negative outlook. S&P then withdrew the ratings on First Takaful at the …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a” of Bermuda-based PMG Assurance Ltd., both with stable outlooks. The ratings reflect PMG’s “excellent capitalization, historically strong operating performance and …
Zurich Financial Services Group announced today that its subsidiary, Zurich Insurance Company Ltd, has completed the acquisition of 99.99 percent of Compagnie Libanaise D’Assurances SAL, a privately owned Lebanese insurer with branch operations in the United Arab Emirates, Kuwait and …
Zurich Financial Services Group announced that its subsidiary Zurich Insurance Company Ltd, has signed an agreement to acquire 99.98 percent of Compagnie Libanaise D’Assurances SAL, a privately owned Lebanese insurer with branch operations in the United Arab Emirates (UAE), Kuwait …
American International Group Inc (AIG) plans to raise up to $14.9 billion through an IPO of its Asian life insurance unit AIA Group Ltd, according to a document obtained by Reuters on Monday. The Hong Kong-based company plans to raise …
American International Group Inc received a $1 billion commitment from Kuwait Investment Authority for the IPO of its Asian unit, the first major investment inked before the mega offering’s roughly $15 billion launch. KIA, the country’s sovereign wealth fund, is …
Devastating floods in Pakistan and Russia’s heatwave match predictions of extremes caused by global warming even though it is impossible to blame mankind for single severe weather events, scientists say. This year is on track to be the warmest since …
A.M. Best Co. has affirmed the financial strength rating of ‘A ‘(Excellent) and issuer credit ratings of “a” of Sweden’s Skandia Insurance Company Ltd. and Skandia Life Assurance Company Limited (Skandia UK), the main subsidiaries in Old Mutual plc’s Nordic …
A.M. Best Co. has assigned a financial strength rating of ‘A-‘ (Excellent) and an issuer credit rating of “a-” to Barbados-based Wentworth Insurance Company Limited, an indirect, wholly owned subsidiary of Fairfax Financial Holdings Limited, and has assigned a stable …
A.M. Best Co. has affirmed the financial strength ratings of ‘A-‘ (Excellent) and issuer credit ratings of “a-” of London General Insurance Company Limited (LGI) and London General Life Company Limited (LGL), both with stable outlooks. LGI and LGL are …
