Standard & Poor’s Ratings Services has assigned its “A-” long-term debt rating to the proposed 30-year, subordinated, unsecured, callable notes that Spain-based insurance holding company Mapfre S.A. (A+/Stable/–) plans to issue for an expected amount of up to €1 billion. …
Standard & Poor’s Ratings Services has lowered its long-term counterparty credit rating on Spain’s insurance holding company Mapfre S.A. to “A+” from “AA-.” S&P also lowered its long-term rating on the €275 million ($374.7 million) 10-year senior unsecured debt issued …
The ACE European Group has announced some changes to its Continental European country management with immediate effect, as follows: Jeff Moghrabi is to assume the role of Country Manager for ACE France, replacing Olivier Muraire. He will relocate to ACE’s …
A.M. Best Co. has affirmed the financial strength rating of “A+” (Superior) and the issuer credit rating of “aa-” of Spain’s Ocaso, S.A. Seguros y Reaseguros with a stable outlook. “The ratings reflect the company’s superior risk-based capitalization, excellent operating …
ACE Limited has received approval from the UK’s Financial Services Authority to establish a London-based life assurance company, ACE Europe Life Limited, doing business as “ACE Life.” The new Company “will operate in conjunction with the existing network of ACE …
Standard & Poor’s Ratings Services has assigned preliminary credit ratings to the €411.6 million ($551 million) asset-backed floating-rate notes to be issued by a French “fonds commun de créances (FCC), FCC SPARC Europe (Senior).” The transaction involves the securitization of …
France’s AXA Group has launched its second securitization of motor insurance risks based on individual motor policies underwritten by its German, Belgian, Italian and Spanish operations. AXA launched its first motor securitization for its French exposures in 2005 (See IJ …
Federal authorities announced they had broken up a suspected Muslim terrorist cell planning a “chilling” attack to destroy John F. Kennedy International Airport, kill thousands of people and trigger an economic catastrophe by blowing up a jet fuel artery that …
National Insurance Partners Inc. (NIP), a Texas-based risk management and financial solutions firm, has appointed William E. Harrison, Jr. as president. Harrison brings 16 years of experience in the insurance industry to his position. He served as president of Coleman …
Managing catastrophe risk is one of the biggest challenges facing any company’s risk manager. For multinational companies, the challenge of managing catastrophe risk is especially daunting. In the United States, risk managers have access to the latest information and tools …
