S&P News

Assured Guaranty to Offer City of Hartford Refinancing Plan to Avoid Bankruptcy

Securities insurer Assured Guaranty Ltd. said on Monday it would grant Hartford, the capital of Connecticut, a municipal bond that offers financial support, a move that could help the city avoid filing for bankruptcy. Hartford would likely seek to file …

Insurers Unlikely to Be Impaired by Claims From Tianjin Port Explosion: S&P

Insurers are unlikely to be impaired by the loss claims from the explosions in the Chinese Port of Tianjin last week, according to a report from Standard & Poor’s. “Based on our initial investigation, we expect most of the affected …

P/C Insurers Must Manage Emerging Risks Including the Next Big One

Learning how to manage increasingly complex and evolving risks is essential if property/casualty insurers are to serve the needs of their customers in a changing world. According to analysts and industry executives at Standard & Poor’s Ratings Services’ Insurance 2014: …

Banks Facing $100B More in Costs to Settle Mortgage-Related Cases: S&P

The largest U.S. banks may need to pay out up to an additional $105 billion to settle legacy mortgage-related issues, but have a capital cushion that would help them absorb these losses, according to a report by ratings agency Standard …

New Global Ratings Agency to Vie with Moody’s, S&P, Fitch

Credit ratings organisations from five countries are launching a new global agency, touting it as an alternative to the Big Three agencies which they say no longer meet the needs of the new globalised world. In a statement on Tuesday, …

Dodd-Frank Swaps Rule Could Impact Insurers’ Risk Management, Ratings: S&P

Ratings analysts at Standard & Poor’s say that a Dodd-Frank provision having to do with derivatives could improve insurers’ risk management and have a minor impact on ratings. In response to the financial crisis of 2008, Congress passed the Dodd-Frank …

S&P Report: Reinsurers Discuss Industry Lessons Learned From Hurricane Sandy

A recent report, “Reinsurance Industry Leaders Discuss Lessons Learned From Hurricane Sandy,” published Nov. 29, 2012, on RatingsDirect, Standard & Poor’s Ratings Services, notes that “reinsurers had three very good quarters until Superstorm Sandy hit the U.S. East Coast on …

S&P to Factor Country Risk into Insurance Ratings

Standard & Poor’s will change the way it assigns global ratings to insurers, in part to increase the consideration of country risk in the way a company is evaluated, the credit ratings agency said on Thursday. The changes will apply …

Spanish Economy in ‘Huge Crisis’ after Sovereign Debt Downgrade

Spain’s sickly economy faces a “crisis of huge proportions”, a minister said on Friday, as unemployment hit its highest level in two decades and Standard and Poor’s weighed in with a two-notch downgrade of the government’s debt. Spain’s unemployment rate …

S&P Lowers India’s Rating Outlook to Negative; Investment Rating in Peril

Standard & Poor’s cut India’s credit rating outlook on Wednesday to negative from stable, reflecting the toll that hefty fiscal and current account deficits and political paralysis are exacting on Asia’s third-largest economy. The negative outlook jeopardizes India’s long-term rating …