Latest S&P Headlines
All the headlines from our S&P Topic Page, ordered by recency.
Industry Applauds Lloyd’s Return to Profitability
Apr 3 2003 // If it were a sports story, it would be something like the Anaheim Angels winning the World Series last year, so when an insurance company, in this case an insurance market, goes from losing almost $5 billion to making...
S&P, A.M. Best Take Rating Actions on Trenwick
Apr 3 2003 // Both Standard & Poor’s Ratings Services and A.M. Best have reacted to the Trenwick Group Ltd.’s announcement that it was in default on its senior notes as of April 1. (See IJ Website April 2). S&P...
S&P’s Report Says Asbestos Driving Rift Between Insurers/Reinsurers
Apr 1 2003 // Asbestos exposure foreshadows a growing rift between insurers and the reinsurance companies that back them, according to a new report by Standard & Poor’s. “Disputes between insurers and reinsurers appear...
S&P Expects to Assign an ‘A’ Rating to Promina General Insurance Subsidiaries
Mar 31 2003 // Standard & Poor’s Ratings Services announced that it expects to raise the insurer financial strength and counterparty credit ratings on the principal Australian and New Zealand-based general insurance...
S&P Sees Limited Impact from Tokio, Nichido Merger
Mar 31 2003 // Standard & Poor’s Ratings Services has issued a statement indicating that “the merger plan between Tokio Marine & Fire Insurance Co Ltd. (AA-/Negative/–) and Nichido Fire & Marine Insurance...
S&P’s Report Looks at Changes to U.S. P/C Capital Model
Mar 31 2003 // Standard & Poor’s has published an article that explains the various criteria changes it has made to its U.S. property/casualty insurance risk-based capital model. The changes include a deduction of goodwill...
S&P’s Lowers American Re-Insurance Rating
Mar 28 2003 // Standard & Poor’s has lowered its counterparty credit and financial strength ratings on American Re-Insurance Co. and American Alternative Insurance Corp. (collectively referred to as American Re) to...
S&P Cuts Munich Re and Core Subsidiaries to ‘AA-‘
Mar 28 2003 // Standard & Poor’s Ratings Services announced that it has it lowered its long-term ratings, including its counterparty credit and insurer financial strength ratings, on Germany’s Munich Reinsurance Co....
Hannover Re Responds to Downgrade by Moody’s
Mar 28 2003 // Germany’s Hannover Re has issued a statement commenting on the actions taken by Moody’s Investors Service this week in downgrading the reinsurer’s financial strength rating from “A2” to...
S&P’s Lowers Kemper Cos. Ratings; Keeps on Watch Negative
Mar 27 2003 // Standard & Poor’s has lowered its counterparty credit and financial strength ratings on the members of the Kemper Insurance Cos. Intercompany Pool (Kemper pool) to ‘B-‘ from ‘B+’. In...
S&P’s Takes Chubb Ratings Off Watch, Lowers Them
Mar 26 2003 // Standard & Poor’s has removed from CreditWatch its long-term counterparty credit and senior debt ratings on Chubb Corp. and lowered them to ‘A’ from ‘A+’ because it does not believe that...
S&P’s Affirms Horace Mann Educator Corp. ‘BBB+’ Rating
Mar 25 2003 // Standard & Poor’s Ratings Services said today that it affirmed its “BBB+” counterparty credit rating on Illinois-based Horace Mann Educator Corp. based on its strong financial position and the...
S&P Affirms Le Mans Re ‘A+’ Ratings
Mar 25 2003 // Standard & Poor’s Ratings Services announced that it has affirmed its ‘A+’ long-term counterparty credit and insurer financial strength ratings on Le Mans Re with a “stable” outlook,...
S&P Affirms AIG’s ‘AAA’ Ratings
Mar 25 2003 // Standard & Poor’s Ratings Services announced that it has affirmed its ‘AAA’ ratings on American International Group Inc. and various AIG operating companies. S&P reaffirmed the increasingly rare...
ACE Comments on S&P Rating Reaffirmation
Mar 24 2003 // Bermuda’s ACE Limited announced today that Standard & Poor’s has reaffirmed its ‘A’ plus financial strength and counterparty credit rating, as well as the ratings of its insurance subsidiaries,...
S&P’s Article Discusses Insurer Credit, Liquidity Support
Mar 19 2003 // Standard & Poor’s has published an article that explains the rating criteria for credit and liquidity support provided by insurers. Capital-markets transactions are often supported by credit or liquidity...
S&P’s Assigns Washington Casualty Co. ‘R’ FSR
Mar 14 2003 // Standard & Poor’s has assigned its ‘R’ financial strength rating to Washington Casualty Co. upon its placement into receivership by Thurston County Superior Court. “This rating action follows...
S&P’s Withdraws Trio of RSA Affiliate Ratings
Mar 13 2003 // Standard & Poor’s has removed its ‘BBB+’ counterparty credit and financial strength ratings on Employee Benefits Insurance Co., Design Professional Insurance Co., and EBI Indemnity Co., which are...
S&P Indicates No Rating Changes After R&SA Earnings Report
Mar 10 2003 // Standard & Poor’s Ratings Services issued a statement that Royal & Sun Alliance Insurance PLC’s recent earnings announcement, which stated that its operating companies’ statutory surplus has...
Allianz Comments on S&P’s “A+” Ratings for its Marine and Aviation Unit
Mar 10 2003 // Standard & Poor’s recently announced that Allianz Marine & Aviation, the transport and aviation insurer of the Allianz Group, has been rated “A+” with a stable outlook, drawing this comment from...
