Latest S&P Headlines
All the headlines from our S&P Topic Page, ordered by recency.
CGNU Group Members Affirmed
Nov 12 2001 // Standard & Poor’s (S&P) affirmed its “AA” counterparty credit and insurer financial strength rating (FSR) on the core operating companies of the CGNU Group. Concurrently, S&P raised its...
Trenwick Ratings Lowered
Nov 12 2001 // S&P lowered its counterparty credit rating and FSR on Trenwick America Reinsurance Corp., Trenwick International Ltd. (Trenwick International), Chartwell Ins. Co. (Chartwell), Insurance Corp. of NY, Dakota Specialty...
Chubb Removed from CreditWatch
Nov 9 2001 // Standard & Poor’s removed from CreditWatch and lowered its counterparty credit and senior debt ratings on Chubb Corp. to “AA-” from “AA+”, its preferred stock rating to “A”...
S&P Reaffirms PartnerRe Ratings, Off CreditWatch
Nov 6 2001 // Standard & Poor’s announced that it has removed Bermuda-based PartnerRe from its CreditWatch, and has affirmed the company’s single-‘A’-plus counterparty credit and single-‘A’-minus...
KKR Commits $100 Million to Alea Group; S&P Reaffirms ‘A-‘ Ratings
Nov 5 2001 // Standard & Poor’s announced that it has affirmed its single ‘A-‘minus long-term counterparty credit and insurer financial strength ratings on the operating subsidiaries of the Alea Group, and has...
S&P Comments on the Reinsurance Business
Nov 5 2001 // Standard & Poor’s recently announced that reinsurers are reducing their emphasis on long-standing client relationships and adopting a more clinical approach to underwriting, as both the insurance and reinsurance...
S&P’s Affirms Nationwide Lloyds Rating
Nov 5 2001 // Standard & Poor’s affirmed its “BBpi” financial strength rating (FSR) on Nationwide Lloyds. The affirmation is based on the accumulation of large underwriting losses as of year-end 2000, which is...
Industry Weathering World Trade Center Losses, Uncertainties Remain
Nov 1 2001 // Despite the record losses terrorism wreaked on the insurance industry since the Sept. 11 attacks on the World Trade Center, the global insurance business not only remains on solid footing with the powerful backing of...
Lloyd’s Confirms S&P WTC Gross Loss Figure
Oct 24 2001 // Lloyd’s confirmed an earlier report from Standard & Poor’s that gross losses from the events of September 11 will be around £5.4 billion ($7.7 billion). The net loss estimate of £1.3 billion...
S&P: Maintenance of Ratings Depends on Mitigating Terrorism Risks
Oct 24 2001 // Wholesale withdrawal from terrorism coverage is shielding the U.S. insurance industry from widespread rating actions following the September attacks, but it leaves U.S. commerce highly vulnerable to any future acts of a...
S&P Downgrades Ratings of Trenwick Group
Oct 19 2001 // International ratings agency Standard & Poor’s announced that it has lowered its counterparty credit and financial strength ratings on “the core and strategically important operating companies of Trenwick...
S&P Confirms ZFS’ Converium ‘A+’ Rating
Oct 18 2001 // International rating agency Standard & Poor’s affirmed its single-‘A’-plus counterparty credit rating and insurer financial strength ratings on reinsurance companies Converium Ltd., Zurich...
S&P Puts Le Mans Re on CreditWatch Developing Due to WTC Loss Estimates
Oct 17 2001 // Standard & Poor’s announced that it now considered its CreditWatch already in place on Le Mans Re to be “developing” rather than “positive” primarily due to its loss estimates from the...
S&P Affirms National Interstate Insurance ‘BBBpi’
Oct 9 2001 // Standard & Poor’s affirmed its “BBBpi” financial strength rating on National Interstate Insurance Co., based in Richfield, Ohio. The rating action reflects the company’s good capitalization and...
Hartford to Raise Equity Towards Sept. 11 Losses; S&P Removes from Watch, Affirms Hartford Financial
Oct 8 2001 // The Hartford Financial Services Group Inc. plans to raise equity capital to replace its estimated $450 million reduction in shareholders’ equity from the World Trade Center disaster of Sept. 11. The company plans to...
S&P Takes Action on PartnerRe and Subs
Oct 8 2001 // Standard & Poor’s affirmed its single-‘A’-plus counterparty credit rating on PartnerRe Ltd. and its double-‘A’ counterparty credit and FSR on Partner Reinsurance Co. Ltd. and PartnerRe...
S&P Lowers Ratings on Copenhagen Re
Oct 5 2001 // Standard & Poor’s announced that it has lowered its counterparty credit and insurer financial strength ratings on Denmark’s Copenhagen Re and its British subsidiary The Copenhagen Re Co.(U.K.) to...
S&P Report: Reinsurers Solid After WTC Attack
Oct 3 2001 // The four major engines of global reinsurance–Swiss Re, General & Cologne Re, Munich Re, and Employers Re–form the backbone of a financially sound insurance response to the World Trade Center attack of...
S&P Watching Hartford Following Disaster
Sep 25 2001 // Standard & Poor’s commented recently on its CreditWatch placement of ratings on Hartford Financial Services Group Inc. (HFSG), Hartford Accident & Indemnity Co., and related entities following the...
Members of Premier Ins. Group on CreditWatch Neg
Sep 24 2001 // Standard & Poor’s (S&P) placed its “A+” counterparty credit and financial strength ratings on American Excess Insurance Exchange RRG (AEIX), American Diversified Reinsurance Ltd., and Premier...
