Chartis announced that it has entered into a reinsurance transaction with Lodestone Re, which will provide $450 million of protection to Chartis against U.S. hurricanes and earthquakes. “This represents a substantial increase from the $250 million of protection originally sought …
Peoria, Ill.-based RLI Corp. announcedthat it will acquire Contractors Bonding Insurance Co. (CBIC) through an acquisition of its holding company, Data and Staff Service Co. (DSS) for approximately $137 million in cash. The acquisition is subject to regulatory approval and …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and the issuer credit rating (ICR) of “aa” of Allianz Global Corporate & Specialty AG (AGCS AG). Best also affirmed the FSR of …
A.M. Best Co. has upgraded the issuer credit ratings (ICR) to “a+” from “a” and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) of Fireman’s Fund Insurance Companies, which includes Novato, Calif.-based Fireman’s Fund Insurance Company and its intercompany …
Standard & Poor’s Ratings Services has assigned its preliminary ‘BBB+’ senior debt, preliminary ‘BBB’ subordinated debt, preliminary ‘BBB-‘ junior subordinated debt, and preliminary ‘BBB-‘ preferred stock ratings to Aspen Insurance Holdings Ltd.’s recently filed universal shelf registration program. The ratings …
A federal judge in Louisiana recently let 10 insurance companies being sued by Louisiana homeowners over property damage resulting from the installation of defective drywall from China off the hook for coverage from those claims. The early Christmas gift to …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength ratings of ‘A ‘(Excellent) and issuer credit ratings (ICR) of “a+” of Lloyd’s Syndicate 2623, Lloyd’s Syndicate 623, Lloyd’s Syndicate 3623 and Lloyd’s Syndicate 3622. In addition Best …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of Flagstone Reassurance Suisse SA and its reassured affiliate, Flagstone Alliance Insurance and Reinsurance plc, which is based in Cyprus, as …
During a rainstorm in Washington in early 2009, amid the furor over Wall Street’s post-bailout bonuses, an American International Group employee pulled out an umbrella that had the insurer’s name on it. “Somebody came by, grabbed the umbrella and broke …
U.S. health insurance companies that want to increase premiums by 10 percent or more next year would face tougher government scrutiny under new rules proposed Tuesday. The rules, called for under the sweeping healthcare law passed in March, would require …
