Switzerland News

Best Affirms Zurich Insurance and Group ‘A+’ Ratings; Outlook Stable

A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit rating (ICR) of “aa-” of Swiss-based Zurich Insurance Company Limited (ZIC)), the main operating company of Zurich Insurance Group Ltd. Best …

Best Affirms Catlin Group and Subs ‘A’ Ratings; Outlook Stable

A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of the Bermuda-based Catlin Insurance Company Limited (CICL), Catlin Insurance Company (UK) and Catlin Re Switzerland …

Best Affirms ACE Limited, No. Am. P&C Affiliates ‘A+’ Ratings

A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa” of the North America property/casualty subsidiaries of ACE Limited, which is based in Zurich, as well as its ratings for …

Flagstone Re to Restructure Business; Sell Lloyd’s Operation

Flagstone Reinsurance Holdings has announced a number of strategic initiatives, which it said are “designed to realign the Company’s strategy and core capabilities.” Flagstone said it “intends to refocus its underwriting strategy to leverage its existing strengths, and streamline its …

Allied World Appoints Fleischmann as New VP for Direct Underwriting

Allied World Assurance Company Holdings, AG announced that Kurt Fleischmann has joined Allied World Europe as Vice President, General Casualty & Professional Lines. He will be based in Zug, Switzerland where Allied World launched a new direct insurance underwriting platform …

Best Affirms Infrassure’s ‘A-’ Ratings; Outlook Stable

A.M. Best Co. has affirmed the financial strength ratings of ‘A-’ (Excellent) and the issuer credit ratings of “a-” of Swiss-based Infrassure Ltd. and its affiliate, Infrassure Ltd., Vaduz, which is based in Liechtenstein. The outlook for all of the …

New York, Swiss Insurance Authorities Sign Cooperation Pact

The New York State Insurance Department and the Swiss Financial Market Supervisory Authority (FINMA) have agreed to a memorandum of understanding allowing for closer cooperation between the two regulatory bodies. The agreement was announced by New York State Insurance Department …

Catlin Re Switz. to Open Madrid Office; Augments Underwriting Staff

Catlin Re Switzerland, the continental European reinsurer of the Bermuda-based Catlin Group Limited, announced that as of July 1, 2011, it will underwrite treaty reinsurance business from a new office in Madrid, focusing on property, casualty and specialty classes of reinsurance …

Catalina Completes Acquisition of Glacier Re

Catalina Holdings (Bermuda) Ltd. announced that, following consent from FINMA, the Swiss Financial Markets Supervisory Authority, it has completed the acquisition of Glacier Reinsurance AG, the Swiss-based reinsurance company in run-off. The bulletin noted that Glacier Re, established in 2004, “wrote …

Best Assigns ‘A’ Rating to Swiss-based Catlin Re

A.M. Best Europe – Rating Services Limited has assigned a financial strength rating of ‘A’ (Excellent) and an issuer credit rating (ICR) of “a” to Catlin Re Switzerland Ltd, the newly formed wholly owned subsidiary of Bermuda-based Catlin Group Limited …