Latest S&P Headlines
All the headlines from our S&P Topic Page, ordered by recency.
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 The rating was simultaneously withdrawn at the...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...
S&P Lowers Allianz Canada Ratings to ‘BBB+’
Dec 10 2003 // Standard & Poor’s Ratings Services announced that it has lowered its counterparty credit and financial strength ratings on Allianz Insurance Co of Canada and Trafalgar Insurance Co. of Canada (collectively...
Atlantic Mutual Cos. Ratings Fall on CreditWatch
Dec 10 2003 // Standard & Poor’s has placed its ‘BBB’ counterparty credit and financial strength ratings on Atlantic Mutual Insurance Co., Centennial Insurance Co., and Atlantic Lloyds Insurance Co. of Texas...
