Both A.M. Best and Standard & Poor’s issued bulletins following the announcement that Ariel Re was selling off its Bermuda-based reinsurance business to Arrow, a unit of investment Bank Goldman Sachs, and its trade credit and surety (C&S) operations, which …
Standard & Poor’s Ratings Services announced that it is “maintaining its stable outlook on the global reinsurance sector despite the near-record level of catastrophe losses in 2011,” as it doesn’t expect “a bias in the direction of any rating actions …
Standard & Poor’s Ratings Services has followed up on the rating actions it announced in December concerning a number of Europe’s largest insurers. S&P has lowered its ratings on the following insurers (and certain related operating subsidiaries and certain holding …
As 2011 winds down, Canadian property and casualty (P&C) insurers can “list some notable lows and highs during the year, including unusually large catastrophe losses from wildfires in Slave Lake, Alta., and improved performance in the Ontario auto segment, thanks …
Standard & Poor’s Ratings announced that it has placed its ratings on the following insurers (and certain related operating subsidiaries and certain holding companies) on CreditWatch with negative implications: • Allianz Group (including the Euler Hermes group) • Aviva Group …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit ratings of “a-” of Torus Specialty Insurance Company and Torus National Insurance Company, both of which are domiciled in Wilmington, Delaware, and are wholly owned …
Standard & Poor’s Ratings Services has lowered its counterparty credit and financial strength ratings on the operating insurance companies of State Auto Group to ‘BBB+’ from ‘A-‘. S&P also lowered its counterparty credit rating on State Auto Financial Corp. to …
Standard & Poor’s Ratings Services has revised its outlook on Allstate Corp., Allstate Insurance Co. (AIC), and its core property-liability insurance companies (collectively, Allstate Protection), as well as the life insurance companies, deemed strategically important to the group (collectively, Allstate …
Standard & Poor’s Ratings Services has affirmed its ‘BBB’ long-term counterparty credit rating on Montpelier Re Holdings Ltd. and its ‘A-‘ counterparty credit and financial strength ratings on the core operating subsidiary, Montpelier Reinsurance Ltd. The outlook is stable. Montpelier …
Standard & Poor’s Ratings Services has raised its long-term counterparty credit and insurer financial strength ratings on Zurich-based reinsurer Swiss Reinsurance Co. Ltd., and its core subsidiaries (collectively Swiss Re, or the group) to ‘AA-‘ from ‘A+’. The outlook on …
