Cyber risk is becoming increasingly relevant to insurer credit ratings, according to a report from S&P Global Ratings. Overall, S&P said it has noted “more credit-relevant cyber events in the last six months than in the previous six years.” S&P …
S&P Global Ratings has revised its outlook on Allianz Global Corporate & Specialty SE (AGCS) to negative from stable, while at the same time affirmed the insurer’s “AA” financial strength and issuer credit ratings. The outlook revision reflects S&P’s view …
Activist shareholder Voce Capital Management LLC is renewing its fight with the board of Argo Group International Holdings Ltd. This time, Voce is calling for a special meeting of Argo shareholders to elect five independent board members. Argo has been …
S&P Global Ratings said it revised its outlook on Qatar Insurance Co. S.A.Q. (QIC) to negative from stable, although it has affirmed the group’s “A” rating. When QIC acquired four of Markerstudy’s subsidiaries in 2018, it also purchased the parent-related …
AXIS Capital Holdings won an outlook upgrade from Standard & Poor’s Global Ratings as well as an affirmation of its other ratings, thanks to growing confidence in its various strategic initiatives. Standard & Poor’s revised its AXIS outlook to stable …
S&P Global Ratings has affirmed its ‘A+’ insurer financial strength rating and ‘BBB+’ long- and ‘A-2’ short-term issuer credit ratings on American International Group Inc. (AIG), and its ‘A+’ rating on AIG’s core subsidiaries. The rating agency’s outlook for AIG …
S&P Global Ratings placed France’s AXA on CreditWatch with negative implications over its planned $15.3 billion purchase of XL Group Ltd. The ratings agency said it is worried about what the mega-deal could do to AXA’s capital reserves. At issue …
S&P Global Ratings has lowered the long-term issuer credit rating on Bermuda-based RenaissanceRe Holdings Ltd. (RNR) to “A-” from “A” and its long-term financial strength and issuer credit ratings on RNR’s core operating subsidiaries to “A+” from “AA-“. The outlook …
S&P Global Ratings has revised its outlook on the Society of Lloyd’s to negative from stable, while reaffirming the market’s ‘A+’ insurer financial strength and long-term counterparty credit ratings on Lloyd’s. With estimated net losses of £3.3 billion ($4.4 billion) …
S&P Global Ratings has assigned its ‘A-‘ long-term financial strength rating to Odyssey Re Europe S.A. (ORESA), with a stable outlook. The rating on ORESA is based on an explicit guarantee provided by Odyssey Reinsurance Co., which has an ‘A-‘ …
