Latest S&P Headlines
All the headlines from our S&P Topic Page, ordered by recency.
Calif. State Comp Insurance Fund Rating Lowered, Off WatchNeg
May 8 2001 // Standard & Poor’s (S&P) removed from CreditWatch and lowered its counterparty credit and financial strength ratings on the California State Compensation Insurance Fund from “A” to...
Swiss Re Affirmed
May 7 2001 // The “AAA” counterparty credit and insurer financial strength rating on Swiss Reinsurance Co. (SRZ) and related core subsidiaries were affirmed by Standard & Poor’s (S&P), which also revised the...
S&P Downgrades Republic Underwriters
May 7 2001 // The “AApi” FSRs on Republic Underwriters Insurance Co. (RUI) was lowered to “Api” by S&P. The rating action also applies to RUI’s 100 percent reinsured affiliates: Republic Lloyds;...
S&P Affirms General Casualty of WI
May 7 2001 // The “Api” FSR on General Casualty of Wisconsin was affirmed by S&P. The rating action also applies to the company’s related pool members: Regent Ins. Co.; General Casualty of Illinois; Hoosier Ins....
AIG Affirmed
Apr 23 2001 // The “AAA” debt and counterparty credit ratings on American International Group Inc. (AIG) were affirmed by Standard & Poor’s (S&P). Concurrently, the “AAA” insurer FSR and...
S&P Places Aon Corp. Ratings on WatchNeg
Apr 21 2001 // The ratings of Aon Corp. (Aon) and fellow subsidiaries were put on CreditWatch with negative implications by Standard & Poor’s (S&P) on April 20. The rating action came subsequent to Aon’s...
S&P Puts State Fund on CreditWatch Negative
Apr 20 2001 // Ratings for the California State Compensation Insurance Fund were placed on CreditWatch with negative implications by Standard & Poor’s on April 17. The action was taken on SCIF’s “A”...
HIGHLANDS’ S&P RATING LOWERED
Apr 16 2001 // Standard & Poor’s has lowered its financial strength ratings on all members of the Highlands Insurance Group, to double-‘Bpi’ from triple-‘Bpi.’ Included in the downgrade are Highlands...
S&P Lowers PAULA Insurance Co FSR to ‘CCCpi’
Apr 11 2001 // Standard & Poor’s lowered its financial strength rating on PAULA Insurance Co. to triple-‘Cpi’ from single-‘Bpi’. The rating action reflects the company’s deteriorating surplus,...
Australian Insurer HIH Seeks Bankruptcy Protection as Losses Mount
Apr 9 2001 // HIH Insurance Ltd., following in the footsteps of ReAC and GIO, became the latest Australian insurance company to be forced to the wall by mounting losses. Rumored to be in deep trouble for the last six months, the...
S&P Lowers Highlands Ratings
Apr 4 2001 // Standard & Poor’s has lowered its financial strength ratings on all members of the Highlands Insurance Group, to double-‘Bpi’ from triple-‘Bpi.’ Included in the downgrade are Highlands...
S&P Lowers SAFECO Ratings, McGavick Responds
Mar 29 2001 // On March 28, Standard & Poor’s removed the ratings of SAFECO Corp. and related entities from CreditWatch and lowered SAFECO’s counterparty credit rating and senior unsecured debt rating from...
S&P Affirms RLI
Mar 26 2001 // The “A+” counterparty credit rating and FSR on RLI Insurance Co. was affirmed by S&P. The rating action also applies to the company’s subsidiary Mt. Hawley Insurance Co. S&P cited RLI’s...
S&P Affirms Oregon Mutual
Mar 26 2001 // The “BBBpi” FSRs on Oregon Mutual Insurance Co. was affirmed by S&P. The rating action was based on the consolidated results of the company and its wholly owned subsidiary, Western Protectors Insurance...
S&P Affirms Halcyon
Mar 26 2001 // The “AApi” FSR on Halcyon Insurance Co. was affirmed by S&P, which cited the company’s participation in a reinsurance agreement with affiliate, Progressive Casualty Insurance Co., as the basis for...
S&P Realigns US Insurance Groups Along Customer Lines
Mar 21 2001 // Standard and Poor’s is making changes to the way it evaluates the financial strength of insurance companies. At the company’s annual Financial Services Seminar in Las Vegas, Steve Dreyer, the newly appointed...
HIH Insurance in Liquidation, S&P Withdraws Ratings
Mar 16 2001 // Australia’s HIH Insurance has placed itself in provisional liquidation following its failure to obtain sufficient funds to continue operations. Administrators at KPMG, an international accounting and consulting firm,...
HIH Insurance in Liquidation, S&P Withdraws Ratings
Mar 16 2001 // Australia’s HIH Insurance has placed itself in provisional liquidation following its failure to obtain sufficient funds to continue operations. Administrators at KPMG, an international accounting and consulting firm,...
S&P Affirms AA Ratings For Generali Subs
Mar 15 2001 // International rating agency Standard & Poor’s announced that had affirmed “it’s double-‘A’ long-term counterparty credit and financial strength ratings and its...
S&P Study Shows Increase in U.S. Insurance Industry Failures
Feb 28 2001 // According to a recently published study conducted by Standard & Poor’s, the number of U.S. insurers that failed in 2000 increased to 56, compared with 40 in 1999. Of the 56 failures, 31 were property/casualty...
