A.M. Best Co. announced that it has assigned a financial strength rating of “A” (Excellent) to ACE INA UK Ltd. and at the same time has affirmed the financial strength rating of “A” (Excellent) of ACE Insurance S.A.-N.V. (Belgium). The …
Sweden’s Skandia has issued a bulletin announcing that details of the sale of its19.36 percent stake in If P&C Insurance to Finland’s Sampo plc have been completed. The two companies first announced the sale last February. As part of the …
Standard & Poor’s Ratings Services announced that it has affirmed its “A” insurer financial strength rating on U.K. non-life insurer Groupama Insurance Co. Ltd. and removed the company from CreditWatch, where it had been placed on Jan. 14, 2004. The …
A.M. Best Co. announced that it has placed the financial strength rating of “A-” (Excellent) of Ireland’s Carraig Insurance Limited under review with negative implications. Best said its decision follows “the announcement of the takeover of its parent, Aventis S.A., …
Swiss-based Converium reported its “best quarter operating income so far,” with $77.2 million, up 192.4 percent, and net earnings of $65.7 million, up 157.6 percent. Other highlights cited by the world’s 10th largest reinsurer included the following: — Return on …
The federal jury that has been deliberating the complex issue of how much Silverstein Properties, the master leaseholder of the World Trade Center, should recover from its insurers has reached a partial verdict. On Thursday the jurors told the court …
Residual auto insurance market services provider AIPSO has named Errol Horne as the new manager of its North Central region, which includes the Minnesota, North Dakota and South Dakota auto insurance plans. Horne, who will replace the retiring James P. …
Columbus, Ohio-based financial and actuarial services firm Demotech Inc. announced that it has purchased the publishing and distribution rights to the 2004 and all future editions of CDS Performance of Title Insurance Companies. The company purchased the publication from Corporate …
Chicago-based commercial lines insurer CNA announced that its chief financial officer, Robert V. Deutsch, will step down once a replacement is found. CNA reported a first-quarter loss of $125 million thanks to the sale of its life insurance benefits unit. …
The nation’s report on fatalities shows there were 43,220 deaths overall on the nation’s highways in 2003, up slightly from 42,815 in 2002. At the same time, injuries from motor vehicle crashes declined slightly in 2003, to the lowest levels …
