The recent run of large natural disasters to hit Japan likely has put downward pressure on the creditworthiness of the nation’s three largest non-life insurance groups, according to S&P Global Ratings in a market briefing. Following July’s heavy rains, Typhoon …
After global insured natural catastrophe losses hit record highs in 2017, will reinsurers be able to withstand another year of active natural catastrophes? S&P Global Ratings indicates that while reinsurers are entering this year’s hurricane season with robust earnings and …
S&P Global Ratings placed France’s AXA on CreditWatch with negative implications over its planned $15.3 billion purchase of XL Group Ltd. The ratings agency said it is worried about what the mega-deal could do to AXA’s capital reserves. At issue …
Global reinsurance pricing in aggregate was flat to up about 5 percent during the January 2018 renewals, and more price hikes can be expected in loss-affected areas during the year, according to S&P Global Ratings. After last year’s spate of …
Hartford, Conn.-based The Hartford and New York City-headquartered Travelers confirmed they are among several companies giving their employees bonuses of $1,000 each if they earn $75,000 or less annually as a result of what U.S. Treasury Secretary Steven T. Mnuchin …
S&P Global Ratings has placed its ‘B+’ financial strength ratings for Hochheim Prairie Farm Mutual Insurance Assoc. (HPFMIA) and its subsidiary, Hochheim Prairie Casualty Insurance Co. (HPCIC; collectively Hochheim) on CreditWatch with negative implications. Hochheim, headquartered in Yoakum, Texas, only …
Thirty years ago, so many companies flocked to Connecticut that Stamford, a waterfront enclave of about 100,000 residents, became the third-largest center of corporate headquarters in the U.S., behind only New York City and Chicago. Now businesses are lining up …
S&P Global Ratings has revised its outlook on the Society of Lloyd’s to negative from stable, while reaffirming the market’s ‘A+’ insurer financial strength and long-term counterparty credit ratings on Lloyd’s. With estimated net losses of £3.3 billion ($4.4 billion) …
Saudi Arabia’s central bank is preparing tougher rules for insurance companies as part of a drive to create a smaller number of stronger market players operating in the country, two people with direct knowledge of the matter told Reuters. A …
Hartford, Connecticut’s cash-strapped capital city, suffered a fresh round of credit rating downgrades deeper into junk territory by two Wall Street credit agencies on Tuesday, a day after the city’s bond insurers said they were open to debt restructuring. The …
