Latest S&P Headlines
All the headlines from our S&P Topic Page, ordered by recency.
S&P’s Maintains Negative Outlook for European Reinsurers
Sep 2 2002 // Standard & Poor’s said that although the European reinsurance market is expected to remain hard beyond 2003, it maintains its negative outlook for the industry for the fifth year running, due to uncertainty over...
S&P’s Comments on Fireman’s Fund Insurance Co.
Aug 30 2002 // Standard & Poor’s commented on Fireman’s Fund Insurance Co. and its related entities (FFIC), saying the double-‘A’-minus counter party credit and financial strength ratings on FFIC remain on...
S&P Puts Kyoei on CreditWatch After Cancellation of Plan to Join Millea
Aug 23 2002 // Standard & Poor’s reacted quickly to the announcement by Japan’s Kyoei Mutual Fire & Marine Insurance Co. that it had canceled plans to join the Millea Group, and would instead become a subsidiary of...
S&P’s Affirms Harleysville Group Ratings
Aug 20 2002 // Standard & Poor’s has withdrawn its public information counterparty credit and financial strength ratings on various Pennsylvania-based Harleysville insurance operating companies after determining that there is...
Willis Group Raised
Aug 19 2002 // S&P raised its counterparty credit rating on Willis Group Holdings Ltd. (Willis) to “BB+” from “BB” due to the company’s continued debt reduction and improved operating fundamentals. It...
SAFECO Affirmed
Aug 19 2002 // S&P assigned its preliminary “BBB+” senior debt, “BBB” subordinated debt, and “BBB-” preferred stock ratings to Seattle-based SAFECO Corp.’s $900 million universal shelf...
Travelers Property Casualty Chairman Responds to Inclusion in S&P’s Index
Aug 16 2002 // Travelers Property & Casualty will have its class B shares included in the Standard & Poor’s 500 Index. Travelers Property Casualty Chairman and CEO Robert Lipp, noted “I am very pleased that the hard...
S&P’s assigns Odyssey Re Holdings BBB-minus rtg
Aug 16 2002 // Standard & Poor’s has assigned its triple-‘B’-minus counterparty credit rating to Canadian-based Odyssey Re Holdings Corp. The outlook is stable. Standard & Poor’s also said that it...
S&P’s Maintains Negative Outlook for European Reinsurers
Aug 16 2002 // Standard & Poor’s said that although the European reinsurance market is expected to remain hard beyond 2003, it maintains its negative outlook for the industry for the fifth year running, due to uncertainty over...
S&P’s: ACE Europe Reports $90 Million Loss for 2001
Aug 15 2002 // Standard & Poor’s Ratings Services said that its ratings and outlook on Belgium- based insurer ACE Insurance S.A.—N.V. will not be affected at this time by the company’s reported negative net income of...
S&P’s Says Too Early to Assess Czech Floods
Aug 15 2002 // Standard & Poor’s says it is too early to assess the impact of the current floods on the Czech insurance market, but that the lessons of the last great floods five years ago might not have been learnt. Reports...
S&P’s Rates ESG Reinsurance
Aug 14 2002 // Standard & Poor’s Ratings Services has placed its double-‘B’-minus long-term counterparty credit and insurer financial strength ratings on ESG Reinsurance Bermuda Ltd., ESG Reinsurance Ireland Ltd.,...
Partridge Named Head of S&P’s Sector Analysis Group
Aug 13 2002 // Robert Partridge was named head of Standard & Poor’s Insurance Sector Analysis Group. Partridge, a nine-year veteran of Standard & Poor’s Ratings Services, was most recently the head of the insurance...
S&P’s Publishes Enhanced Criteria in Analyzing Eligibility of New Classes of Hybrid Capital
Aug 13 2002 // Standard & Poor’s has published enhanced criteria for analyzing the eligibility of new classes of hybrid capital issued by insurers and banks. The article, “Mandatory Convertibles: New Hybrid Capital...
S&P’s Revises Aon Corp. Outlook to Negative
Aug 9 2002 // Standard & Poor’s has revised its outlook on Aon Corp. to negative from stable following the company’s second-quarter 2002 earnings announcement. “This rating action reflects the margin deterioration...
S&P’s Rates Bluewater ASA ‘BBB-‘; Outlook Stable
Aug 9 2002 // Standard & Poor’s assigned its triple-‘B’-minus counterparty credit and insurer financial strength ratings to Oslo-based start-up marine insurer Bluewater Insurance ASA (Bluewater). The outlook is...
S&P’s Places Allianz and Dresdner on Watch Neg
Aug 2 2002 // Standard & Poor’s Ratings Services has placed its long-term ratings, including its double-‘A’-plus counterparty credit and insurer financial strength ratings, on Munich-based insurance group, Allianz...
S&P’s Affirms ‘Bbpi’ Ratings on Pair of Philippine Insurers
Aug 2 2002 // Standard & Poor’s Ratings Services affirmed its double-“B”-pi public information ratings on two Philippine insurers, Malayan Insurance Co. Inc. and Pioneer Insurance and Surety Corp. At the same...
S&P’s Affirms ‘BBB+’ Ratings on Taiwan’s Central Re
Aug 1 2002 // Standard & Poor’s Ratings Services affirmed its triple-‘B’-plus insurer financial strength and counter party credit ratings on Central Reinsurance Corp. (Central Re). The outlook on the counter party...
S&P’s Says Hartford Fire Outlook Remains Negative
Jul 31 2002 // Standard & Poor’s Ratings Services, commenting on Hartford Fire Insurance Co.’s (Hartford Fire) second-quarter earnings, said that the outlook for the company and related property/casualty entities remains...
