Standard & Poor’s Ratings Services has assigned its ‘A-‘ insurer financial strength and counterparty credit ratings to Ireland-based insurer RSA Insurance Ireland Ltd. with a stable outlook. “The ratings on RSA Ireland reflect its strategic importance to Royal & Sun …
Houston-based specialty insurer HCC Insurance Holdings, Inc. has acquired VMGU Insurance Agency, an underwriter of the lumber, building materials, forest products and woodworking industries. The acquisition, along with recently announced transactions in the public risk insurance sector, will further extend …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating (ICR) of “a-” of Bermuda-based Validus Reinsurance, Ltd. Best also affirmed the ICR of “bbb-” of Validus Holdings Ltd. as well as the indicative …
Insurance Australia Group Limited (IAG) announced that it has agreed to sell its mass market distribution businesses in the UK for a total value of £73.5 million (approximately A$165 million – US$113.74 million). The bulletin explained that the move is …
A.M. Best Co. has downgraded the financial strength rating (FSR) to ‘B+’ (Good) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “bbb-” from “a-” for the Barbados-based Imagine Insurance Company Limited, both with stable outlooks. Best then withdrew the …
ACE Europe (ACE) announced that it has “further strengthened its environmental risk team with the appointment of Chris Strong as Environmental Risk Underwriter.” ACE said it made the appointment in anticipation of the “forthcoming implementation of the EU Environmental Liability …
Willis Limited, the UK arm of Willis Group Holdings, announced that it will “work with the UK-based Non-Executive Directors Association (NEDA) to develop products and services aimed at mitigating liability exposure for its members. “NEDA was established in 2007 to …
Zurich Financial Services Group announced that Zurich Insurance Ireland Limited (ZIIL), the Group’s Dublin-based European general insurance risk carrier, will be changing its name and incorporation status to Zurich Insurance Public Limited Company (ZIP), as of January 1, 2009. In …
European leaders moved towards agreement on Friday on a multi-billion dollar plan to tackle the global recession and a climate change plan amended to limit impact on struggling industries. Green groups warned that the European Union could forfeit its credibility …
American International Underwriters (AIU), the ), the international property/casualty insurance organization of American International Group, Inc. (AIG), announced a number of executive appointments. Ralph Mucerino, senior vice president of American International Group, Inc. and president, AIG Global Marine & Energy, …
