The United States and the UK aim to include financial services in a proposed free-trade agreement between Washington and the 27-nation European Union, the British Ambassador to the United States said on Thursday. The accord would aim to smooth out …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘B++’ (Good) and issuer credit rating of “bbb” of Arab Misr Insurance Group S.A.E. (GIG-Egypt), both with negative outlooks. “The ratings of GIG-Egypt benefit from its …
Standard & Poor’s Ratings Services has updated its enterprise risk management (ERM) opinions for all of its rated North American and Bermudian insurance companies. S&P explained that an “insurer’s ERM program is a system of processes and practices that aims …
Standard & Poor’s Ratings Services in a report titled “The Recent Outlook Revision On Bermuda Does Not Affect Bermudian (Re)Insurers“, said that “despite the recent outlook revision on the sovereign credit rating on Bermuda to negative from stable, our counterparty …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A++’ (Superior) and issuer credit rating of “aa+” of French reinsurer Caisse Centrale de Réassurance (CCR); however, both ratings continue to have a negative outlook. The …
Bermuda-based Endurance Specialty Holdings Ltd. announced that Daniel Wadley has joined the company as Executive Vice President and Head of its new Endurance Pro insurance unit. He will be responsible for growing the specialty business unit, which offers Errors & …
British insurer Aviva Plc will cut as many as 2,000 jobs worldwide in the latest cost-cutting drive aimed at revitalizing its flagging fortunes, the company confirmed on Thursday. Chief Executive Mark Wilson told staff the cuts would equate to around …
Aon Benfield Securities Insurance-Linked Securities First Quarter Update 2013 has concluded that “for the annual period ending March 31, investment returns for the Aon Benfield All Bond index had reached 12.69 percent (2012: 5.90 percent). The report, published by the …
Bermuda-based Aspen Reinsurance, the reinsurance unit of Aspen Insurance Holdings Limited, announced the formation of a new division, Aspen Capital Markets, with Brian Tobben appointed as its managing director. Aspen Re said it is establishing the new division to expand …
“A return to an underwriting profit in 2012 enabled the global reinsurance market to continue its growth trajectory despite significant challenges,” according to a new special report by A.M. Best Co. Best cited “deterioration in investment yields” as appearing to …
