Fitch affirmed the “AA-” insurer FSR of Associated Electric & Gas Insurance Services Limited (AEGIS) and changed the rating outlook from stable to negative. The negative rating outlook reflects continued poor operating results, declining underwriting and operating cash flows, uncertainty …
Fitch affirmed its “A-” insurer FSR of Merchants Mutual Insurance Company, a Buffalo, N.Y.-based mutual property/casualty insurer; and Merchants Insurance Company of New Hampshire Inc. The outlook for each rating is stable. The rating is based on each company’s expertise …
Zurich-based Allianz Risk Transfer (ART) received an “AA” financial enhancement rating (FER) from S&P. The rating was the first FER issued to a European multiline insurance company. At the same time, S&P assigned an “A1+” short-term counterparty credit rating to …
A.M. Best Co. affirmed the “A” FSRs of SAFECO Corporation’s property/casualty and life/health subsidiaries and removed all ratings from under review. In addition, SAFECO’s commercial paper rating of “AMB-2,” senior debt rating of “bbb+” and capital securities rating of “bbb” …
Fitch affirmed the ratings of American International Group Inc. (AIG) and its insurance subsidiaries. The ratings are supported by AIG’s placement as the preeminent U.S.-based global insurance organization with excellent worldwide brands and franchises, strong balance sheet fundamentals and very …
S&P lowered its counterparty credit and insurer FSR for U.K.-based insurer Independent Insurance Co. Ltd. to “BB” from “BBB+.” S&P also revised the Credit Watch implications on Independent to negative, from developing, where they were placed on May 24 of …
Financial Pacific Insurance Group announced that A.M. Best affirmed a rating of “A-” for its principal operating subsidiary Financial Pacific Insurance Company. Financial Pacific Insurance Co. is a Rocklin, Calif.-based property/casualty insurer which focuses on small commercial risks in California, …
The impact on insurers of the Electronic Signatures in Global and National Commerce Act of 2000 (also known as “E-Sign”) was recently discussed at a Capitol Hill hearing. Christopher Roe, vice president and legal counsel for Fireman’s Fund Insurance Company …
Manufacturers Bank announced that it had entered into a referral alliance with AXA Advisors LLC to provide bank customers with a full range of insurance and investment products through Shuster Financial Group LLC. Michael Aarons, senior vice president at Manufacturers …
Kemper Insurance Companies, Aquila Inc. and its wholly owned affiliate Aquila Re Ltd. announced they have joined together to market and underwrite products that protect buyers or sellers of electric power from unexpected spikes in the price of replacement power …
