Latest S&P Headlines
All the headlines from our S&P Topic Page, ordered by recency.
S&P Foresees Conflict between U.S. Insurers, Reinsurers
Feb 3 2004 // According to a new report from Standard & Poor’s Ratings Services, “reinsurance companies are trailing U.S. insurers in their recognition of inadequate reserves, and as their backing turns to bad debt,...
S&P Announces Lower Ratings on PMA Capital
Feb 2 2004 // Standard & Poor’s Ratings Services made several announcements concerning PMA Capital Corp.’s (PMACA) credit ratings. It has lowered its counterparty credit rating on PMACA to “CC” from...
St. Paul Boosts Med-Mal Reserves; S&P Ponders Rating
Jan 28 2004 // The St. Paul Cos. announced that the company expects fourth-quarter net income of 19 cents to 21 cents per share and operating earnings per share of zero cents to 2 cents. In the quarter, the company recorded a charge of...
S&P Affirms ING Group’s Ratings; Insurance Outlook Negative
Jan 22 2004 // Standard & Poor’s Ratings Services announced that, following a review, it has affirmed its ratings on Holland’s ING GROEP N.V. and related entities, “including its ‘A+/A-1’ counterparty...
S&P Affirms Jupiter Insurance ‘AA+’ Rating
Jan 21 2004 // Standard & Poor’s Ratings Services announced that it has affirmed its ‘AA+’ long-term counterparty credit and insurer financial strength ratings on Jupiter Insurance Ltd., the Guernsey-based captive...
S&P, A.M. Best React to XL Reserve Announcement
Jan 15 2004 // Both A.M. Best and Standard & Poor’s Ratings Services reacted to XL Capital Group’s announcement yesterday that its aggregate reserve additions in 2003 would be around $908 million pretax ($694 million in...
S&P Assigns Statewide ‘R’ Rating
Jan 15 2004 // Standard & Poor’s Ratings Services has assigned its ‘R’ financial strength rating to Waukegan, Ill.-based Statewide Insurance Co. after the Illinois Department of Insurance ordered the company to be...
S&P Lowers Interpool’s Credit Rating to ‘BB’
Jan 9 2004 // Standard & Poor’s Ratings Services announced that it has lowered its ratings on chassis and marine cargo container lessor Interpool Inc., including the corporate credit rating to ‘BB’ from...
S&P Reaffirms, Withdraws Rating on Minster Insurance
Jan 9 2004 // Standard & Poor’s Ratings Services announced that it has affirmed its ‘A’ insurer financial strength rating on U.K.-based Minster Insurance Co. Ltd. The rating was simultaneously withdrawn at the...
S&P Lowers Harleysville Group Ratings to ‘BBB-‘
Jan 2 2004 // Standard & Poor’s Ratings Services has lowered its counterparty credit and senior debt ratings on Harleysville Group Inc. to “BBB-” from ‘BBB’. It has also removed the ratings from...
W.R. Berkley Corp., Operating Companies Ratings Affirmed; Outlook Negative
Dec 29 2003 // Standard & Poor’s affirmed its ‘BBB+’ counterparty credit rating on W. R. Berkley Corp. At the same time, Standard & Poor’s affirmed its ‘A+’ counterparty credit and financial...
S&P Assigns Preliminary Ratings to Berkley’s $750M Universal Shelf Registration
Dec 29 2003 // In addition to affirming W.R. Berkley’s overall ratings (see related article in National news), Standard & Poor’s Ratings Services also announced that it has assigned its preliminary ‘BBB+’...
Securities Firms Form ‘Excess SIPC’ Protection Insurer; S&P Assigns ‘A+’ Rating
Dec 23 2003 // 14 securities firms announced that they have formed the Customer Asset Protection Company (CAPCO). The captive insurer, licensed in New York, will provide excess securities account protection (“Excess SIPC”)...
P/C Industry’s Net Income Surges, But Slowing Premium Growth May Hamper Further Progress, Report Says
Dec 23 2003 // According to a report released by the Insurance Services Office Inc. (ISO) and the National Association of Independent Insurers, the U.S. property/casualty industry’s net income after taxes increased to $21.1 billion...
S&P Lowers Medical Protective’s Ratings to ‘A;’ Off CreditWatch
Dec 22 2003 // Standard & Poor’s Ratings Services announced that it has lowered its counterparty credit and financial strength ratings on Medical Protective Co. (MedPro), a subsidiary of GE Global Insurance Holdings that it...
S&P Notes: Berkshire Hathaway Finance Corp. Assigned ‘AAA’ Senior Debt Rating
Dec 19 2003 // Standard & Poor’s has assigned its ‘AAA’ senior debt rating to Berkshire Hathaway Finance Corp.’s (BHFC) $500 million private-placement debt securities offering. BHFC is a financial subsidiary...
S&P Cuts Horace Mann’s Credit, Strength Ratings
Dec 19 2003 // Standard & Poor’s Ratings Services has lowered its counterparty credit rating on Horace Mann Educators Corp. to “BBB” from “BBB+.” At the same time, Standard & Poor’s lowered...
S&P Assigns ‘A’ Rating to Gard P&I
Dec 16 2003 // Standard & Poor’s Ratings Services announced that it has assigned its ‘A’ long-term counterparty credit and insurer financial strength ratings to Assuranceforeningen Gard – gjensidig –...
Top 10 2003 Newsmakers
Dec 15 2003 // While less turbulent than 2001-2002, this year hasn’t exactly been a walk in the park. The industry continues to face intractable problems—a lack of capital strength, accompanied by accusations that it’s...
Top 10 2003 Newsmakers
Dec 15 2003 // While less turbulent than 2001-2002, this year hasn’t exactly been a walk in the park. The industry continues to face intractable problems—a lack of capital strength, accompanied by accusations that it’s...
