Tokio Marine Holdings Inc.’s (TMHD) sale of two European reinsurance subsidiaries is likely to streamline its holdings and boost operational efficiency in the group’s underwriting businesses, Fitch Ratings said. RenaissanceRe Holdings is buying Tokio Millennium Re AG (TMR) and Tokio …
A.M. Best has downgraded the Financial Strength Rating to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Rating to “a-” from “a” of Governmental Interinsurance Exchange (GIE) in Bloomington, Illinois. The outlooks of these Credit Ratings (ratings) remain …
A.M. Besthas downgraded the financial strength rating to A+ (Superior) from A++ (Superior) and the long-term issuer credit rating to “aa-” from “aa+” of Tokio Millennium Re AG (TMR) (Switzerland). In addition, A.M. Best has placed these credit ratings under …
A.M. Best has revised the outlooks to stable from positive and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of bbb+ for Agency Insurance Company of Maryland Inc. (AIC), based in Hanover, Md. The …
Residents on Mexico’s Pacific Coast on Wednesday began clearing up the wreckage left by Hurricane Willa, which ripped through towns overnight, tearing off rooftops, downing power lines and splitting trees apart. Willa, a powerful Category 3 hurricane, hit the northwestern …
Mexico’s insurance industry overall remains well-capitalized and can absorb the financial impact generated from Hurricane Willa, according to an A.M. Best briefing. Hurricane Willa made landfall on Oct. 23 on Mexico’s Pacific Coast (approximately 300 miles west of Mexico City) …
A.M. Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of Aspire General Insurance Co. in Rancho Cucamonga, Calif. Aspire General is a …
Losses to the insurance industry from Hurricane Michael, a Category 4 storm that hit the Florida Panhandle before continuing a path of destruction through several other Southeast states, will be substantial but not enough to cause problems for insurers or …
Hurricane Michael’s torrential rain, storm surge, and hurricane-force maximum sustained winds that reached 140 miles per hour Wednesday could result in a historically devastating event for the northeastern Gulf Coast, according to A.M. Best. After making landfall in the Panhandle …
A.M. Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” of Northern Mutual Insurance Company (MI) (NMIC) in Hancock, Michigan. NMIC …
