Standard & Poor’s Ratings Services has assigned its ‘A’ counterparty credit and financial strength ratings to Switzerland-based Catlin Re Switzerland (CRCH), a new insurance entity created as a subsidiary to Catlin Insurance Co. Ltd. (CICL; A/Stable). The outlook is stable. …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit rating of “aa-” of Lloyd’s Syndicate 2001, which is managed by Amlin Underwriting Limited. Best has also affirmed the ICR of …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Swiss-based Amlin AG, a reinsurance subsidiary of the Amlin Group, which was formerly based in Bermuda as …
The Bermuda-based Everest Re Group announced that it has entered into discussions with Heartland Crop Insurance, Inc. regarding a potential acquisition of the Kansas-based company by Everest Reinsurance Holdings, Inc. or one of its affiliates. Everest Re said the “parties …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Hong Kong-based NIPPONKOA Insurance Company (Asia) Limited, both with stable outlooks. The rating affirmations reflect NIPPONKOA Asia’s “sound risk-based capitalization, high …
Massachusetts-based insurer The Hanover has appointed David B. Greenfield as executive vice president and senior finance officer. Greenfield will assume the roles of chief financial officer and principal accounting officer in March. Greenfield most recently served as executive vice president …
Bermuda-based PartnerRe Ltd. Has updated its loss estimate relating to the September 3, 2010 New Zealand earthquake. The Company said it “now expects its loss estimate for the New Zealand Earthquake to be in the range of $140 – $160 …
In a brief announcement Lloyd’s insurers Beazley plc and Hardy Underwriting Bermuda Limited noted that Beazley has withdrawn its offer to acquire Hardy. The decision to withdraw the offer follows Hardy’s rejection of Beazley’s “final proposal,” submitted to Hardy’s Board …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of South Korea’s Dongbu Insurance Company, Ltd., both with stable outlooks. Best said the ratings reflect Dongbu’s “strong capitalization and favorable operating …
Bermuda-based PartnerRe Ltd. announced the repurchase of 1,283,336 common shares in a privately negotiated transaction with an institutional shareholder. The shares, totaling approximately 1.7 percent of total common shares outstanding as of September 30, 2010 were purchased at a price …
