Latest S&P Headlines
All the headlines from our S&P Topic Page, ordered by recency.
Cat model reassessments cause rating and capital changes
Jun 19 2006 // Last fall’s disastrous hurricanes provided some rough times for the catastrophe modeling industry. Consequently the principal cat modelers — Applied Insurance Research, EQE International’s EQECAT, and...
Ratings review
Jun 19 2006 // Safeco Outlook Positive Standard & Poor’s Ratings Services affirmed its “A+” counterpart credit and financial strength ratings on the Safeco Intercompany Pool members. S&P also affirmed its...
Hartford Resolves Equitas Claims, Completes Review; S&P Comments
Jun 16 2006 // The Hartford Financial Services Group has entered into an agreement with Equitas, the Lloyd’s runoff vehicle, and all Lloyd’s syndicates reinsured by Equitas that “resolves, with minor exception, all of...
S&P Lowers Norsk Hydro Captive Insurer INF’s Ratings to ‘A-‘
Jun 15 2006 // Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings on Oslo-based Industriforsikring a.s. (INF) to ‘A-‘ from ‘A’, and...
S&P Reacts to Winterthur Sale; AXA Revised to ‘Stable’; Winterthur to ‘Positive’
Jun 14 2006 // Standard & Poor’s Ratings Services reacted quickly to the announcement that AXA and Credit Suisse have reached an agreement to sell Winterthur, the Swiss bank’s insurance division to the French insurer for...
Former S&P Analyst Ashab Joins Benfield
Jun 14 2006 // Benfield, an independent reinsurance and risk intermediary, has appointed Mohammed Ashab as senior vice president to its Financial Consulting practice. Before joining Benfield, Ashab was a director at Standard and...
For Reinsurers, Demand Is Up, Capacity Is Down, Alternatives Gaining
Jun 14 2006 // Whether in the U.S., the U.K., Bermuda, or elsewhere, the message from reinsurance companies is the same: demand is up, and capacity is down. However, it is still a lively market, with alternative capital sources such as...
S&P Lowers Swiss Re Ratings; Raises ERC, GE Re, GEIS
Jun 13 2006 // Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings on Swiss Reinsurance Co. and its core entities to “AA-” from “AA”...
S&P Affirms Kingsway’s ‘BBB- Ratings
Jun 13 2006 // Standard & Poor’s Ratings Services has affirmed its “BBB-” long-term counterparty credit and senior unsecured debt ratings on Toronto-based Kingsway Financial Services Inc. with a stable...
S&P Lowers OCIL’s Avalon Re Notes
Jun 8 2006 // Standard & Poor’s Ratings Services has lowered its subordinated debt rating on Avalon Re Ltd.’s Series C variable rate notes, which are due June 6, 2008, to “CCC-” from “B.”...
S&P Affirms CCR’s ‘AAA’ Rating
Jun 8 2006 // Triple “A” ratings have been on the endangered species list for some time, but they do still exist. Standard & Poor’s Ratings Services has just affirmed its ‘AAA’ long-term counterparty...
S&P Alters Approach to Gauging Insurers’ Terrorism Exposure
Jun 8 2006 // Standard & Poor’s Ratings Services said it is changing its process for evaluating the terrorism exposure of insurers and reinsurers. The updated process is partly a response to the increased insurance retentions...
S&P Assigns Ratings to Swiss Re’s ‘Successor Programme’ Notes
Jun 7 2006 // Standard & Poor’s Ratings Services has assigned its senior secured debt ratings to the principal at-risk variable-rate notes issued under Swiss Reinsurance Co.’s Successor shelf program (See previous...
S&P Puts ERAC on CreditWatch
Jun 7 2006 // Standard & Poor’s Ratings Services has placed its “A” financial strength rating on Employers Reassurance Corp. (ERAC), a subsidiary of GE Insurance Solutions (GEIS) on CreditWatch with developing...
S&P Affirms PZU’s ‘A-‘ Rating; Revises Outlook to ‘Negative’ After Firing of CEO
Jun 6 2006 // Standard & Poor’s Ratings Services has revised its outlook on Polish non-life insurer Powszechny Zaklad Ubezpieczen S.A. (PZU S.A.) and life insurer Powszechny Zaklad Ubezpieczen na Zycie S.A. (PZU Zycie), core...
S&P Assigns Arab Orient ‘A-‘ Rating
Jun 6 2006 // Standard & Poor’s Ratings Services has assigned its “A-” long-term counterparty credit and insurer financial strength ratings to Dubai-based Arab Orient Insurance Co. (PSC) (AOIC) with a stable...
Earnings High For U.S. Commercial Lines Insurers, S&P Reports
Jun 6 2006 // At the midpoint of 2006, many commercial insurers are generating exceptional earnings, according to an article published by Standard & Poor’s Ratings Services. The article, which is titled “U.S. Commercial...
S&P Raises Bluewater Ratings to ‘BBB’
Jun 1 2006 // Standard & Poor’s Ratings Services has raised its long-term counterparty credit and insurer financial strength ratings on Oslo-based non-life insurer Bluewater Insurance ASA to “BBB” from...
Spain’s MAPFRE to Change Corporate Structure, Expand; S&P Comments
Jun 1 2006 // Spain’s largest domestic insurance group, Sistema Mapfre, announced a major structural reorganization, which will eventually result in all of the Group’s activities being concentrated in its publicly traded...
Standard & Poor’s Downgrades Mercury Insurance from Stable to Negative
Jun 1 2006 // Standard & Poor’s Ratings Services has revised its outlook on Mercury Casualty Co. (Mercury Casualty), Mercury Insurance Co. (Mercury Insurance), and Mercury Insurance Co. of Florida (collectively referred to as...
