Standard & Poor’s Ratings Services announced that it has lowered its long-term counterparty credit and insurer financial strength ratings on U.K.-based CNA Reinsurance Co. Ltd. to single-‘B’-plus from triple-‘B’-minus, removed them from CreditWatch, and has withdrawn the ratings at the …
Eighty-four years ago at the 11th minute of the 11th hour of the 11th day of the 11th month the guns fell silent across Europe for the first time in over four years. The Great War had ended. Most countries, …
AIG may not qualify as an international conglomerate quite yet, but if it continues the way it’s going some day it just might. A report from Bangalore, India notes that a $750 million private equity fund run by AIG has …
Standard & Poor’s Ratings Services announced that it has lowered its long-term counterparty credit and insurer financial strength ratings on various operating entities of U.K.-based Royal & Sun Alliance Insurance Group PLC to single-‘A’-minus from single-‘A’, following the group’s announcement …
Bermuda-based Trenwick Group Ltd. reported an operating loss of $135 million, or $3.67 per share, for the third quarter of 2002 and an operating loss of $142.6 million, or $3.88 per share for the first nine months of 2002. The …
Aegon NV, the Netherlands giant insurer and financial services group, beat analysts’ expectations for the third quarter as it recorded a net profit 429 million Euros [the Euro is currently trading at parity with the dollar], a drop of 28 …
The U.K.’s Royal & Sun Alliance Insurance Group plc reported that the Group’s combined operating result was $739 million for the first nine months of 2002, compared to $482 million for the same period in 2001. “Excluding the World Trade …
Bermuda’s PXRE Group Ltd. announced a significant increase in third quarter net income of $11 million compared to a net loss of $33.8 million in the third quarter of 2001. That figure reflected a net loss of $35.3 million related …
Swiss Re’s chief US economist, Kurt Karl, stated that the Federal Reserve Board’s decision to lower the target federal funds rate to 1.25 percent from 1.75 percent was an attempt to “bolster the economy and confidence.” Karl believes that “the …
Standard & Poor’s Ratings Services announced that it has lowered its long-term counterparty credit and financial strength ratings, on Canadian property and casualty insurer Co-operators General Insurance Co. (CGIC) to triple-‘B’-minus from triple-‘B’ with a negative outlook, and has removed …
