Willis Ratings ‘Not Affected’ by Gras Savoye Proposed Acquisition: S&P
Standard & Poor’s Ratings Services said that its ratings on Willis Group Holdings plc (BBB-/Positive/–) “are not affected by the company’s proposed acquisition of the remaining 70 percent that it does not already own of French-based insurance broker Gras Savoye …
Climate Change to Worsen Nat Cat Impact on Creditworthiness: S&P Report
Standard & Poor’s Ratings Services has issued a report warning that, “while recent history shows that natural catastrophes may have not been a major rating factor on corporate credit quality in the past, their effect in the future may increase …
Former S&P Europe Insurance Head Clemens Joins Litmus Analysis
Litmus Analysis announced that Karin Clemens, the former head of S&P’s European insurance rating practice, is joining Litmus. She “will bring even further experience in ratings to the Litmus team, working across the full range of Litmus offerings and also …
A.M. Best Affirms Ratings of Third Point Reinsurance & Subsidiaries
A.M. Best has affirmed the financial strength rating (FSR) of A- (Excellent) and the issuer credit rating (ICR) of “a-” of Third Point Reinsurance Company Ltd. (TPRCL) (Bermuda) and Third Point Reinsurance (USA) Ltd. (TPRUSA) (Bermuda). A.M. Best also has …
S&P Removes AXIS, Partner Re from Credit Watch; Affirms Ratings
AXIS Capital Holdings Ltd. And PartnerRe Ltd. Ratings Affirmed, Removed From CreditWatch Negative; Outlook Stable Standard & Poor’s Ratings Services announced that it has affirmed its ‘A-‘ long-term counterparty credit ratings on Bermuda-based AXIS Capital Holdings Ltd. and PartnerRe Ltd., …
Fairfax Financial to Benefit From its Acquisition of Brit plc: Moody’s Report
The proposed acquisition of Brit plc by Fairfax Financial Holdings is “credit positive” for Fairfax, according to Moody’s, which noted that the deal will significantly boost Fairfax’s underwriting capacity at Lloyd’s in a recently published report. Also citing the benefits …
Platinum’s Ratings Remain on CW Positive Pending RenRe Acquisition: S&P
Standard & Poor’s Ratings Services has maintained its ‘BBB’ long-term counterparty credit rating on Bermuda-based Platinum Underwriters Holdings Ltd. on CreditWatch with positive implications. S&P has also maintained its ‘A-‘ counterparty credit and financial strength ratings on Platinum’s operating subsidiaries …
Best Sees No Ratings Changes for Fairfax from Brit Acquistion
A.M. Best has commented that the issuer credit rating (ICR) of “bbb” and the unsecured debt and preferred equity ratings of Fairfax Financial Holdings Limited are unchanged following the announcement that Fairfax is expanding its global presence by acquiring Brit …
Best Sees Minimal Rating Impact from Tax Changes on Reinsurance
A.M. Best has weighed into the ongoing debate over whether or not the ability of “foreign” reinsurers to avoid significant amounts of U.S. taxes by transferring reinsurance premiums paid to foreign affiliates by domestic insurers. In a proposed budget, released …