Standard & Poor’s Ratings Services announced that it has assigned its “BB+” preferred stock rating to Arch Capital Group Ltd.’s proposed $100 million issuance of Class B, noncumulative preferred shares. S&P also affirmed its ‘BBB’ long-term counterparty credit and senior …
Lloyd’s has released its official 2005 annual report. The package also contains a report from acting CEO Luke Savage, a statement from Lloyd’s Chairman Lord Peter Levene and a detailed breakdown of Lloyd’s performance by its seven classes of business …
The Senate has approved a change to Gov. Phil Bredesen’s Cover Tennessee health care proposal to eliminate all risk for the state, a move administration officials said could eliminate any private insurers from participating in the plan. The amendment was …
Florida State University sociologists in Tallahassee have found that some South Floridians who survived 1992’s Hurricane Andrew suffered mental health problems many years later, a finding that has led the researchers to predict even more dire consequences for those who …
Swiss-based reinsurer Converium announced that Paolo De Martin and Andreas Zdrenyk have been appointed as new members of the Company’s Global Executive Committee, as Chief Financial Officer and Chief Operating Officer respectively. The appointments take effect as of July 1, …
A.M. Best Co. announced that it has downgraded the financial strength rating of Luxembourg-based West of England Ship Owners Mutual Insurance Association (WOE or the Club) to “A-” (Excellent) from “A” (Excellent) and assigned an issuer credit rating of “a-“. …
France’s SCOR Group reported a healthy first quarter with net income rising 61 percent to €53 million ($68.34 million) from €33 million ($42.55 million) in Q1 2005. Gross written premiums rose 18 percent to €734 million ($946 million). “This growth …
Program manager Smith, Bell and Thompson and Westport Insurance have launched an insurance program for Distributors of Durable Products (DISPRO). Wholesalers in the automobile parts, furniture, equipment, plastics/electrical, hardware, construction and industrial supplies, paper/stationary and miscellaneous goods industries are eligible. …
The Indianapolis/Bloomington offices of Hylant Group have formally honored FCCI Insurance Group with its Regional Carrier of the Year Award for 2005. Tom Nix, chief operating officer of Hylant’s Carmel, Ind. office, presented the award to Elizabeth Dinnin, senior vice …
The Florida Commission on Hurricane Loss Projection Methodology has certified AIR Worldwide Corp.’s 2006 Hurricane Model. This marks the tenth consecutive year that AIR has met the rigorous standards of the Commission since the Commission’s inception in 1996, when AIR …
