OLDWICK, N.J.–(BUSINESS WIRE)–March 7, 2003–A.M. Best Co. has downgraded the financial strength rating to A (Excellent) from A+ (Superior) of Liberty Mutual Insurance Companies (Liberty Mutual) (Boston, MA). A.M. Best has also downgraded the financial strength rating to A (Excellent) from A+ (Superior) of Liberty Northwest Group (Portland, OR). The financial strength rating of A… Continue reading A.M. Best Downgrades Ratings of Liberty Mutual; Assigns Debt Ratings
Author: Farkas Laura
S&P Lowers Farmers Mutual Ins Co & Rltd Rtgs to ‘Bpi’
NEW YORK–(BUSINESS WIRE)–March 7, 2003–Standard & Poor’s–Standard & Poor’s Ratings Services today said it lowered its counterparty credit and financial strength ratings on Farmers Home Mutual Insurance Co. (Farmers Home) and Pioneer Insurance Co. (MN) (Pioneer) to ‘Bpi’ from ‘BBpi’ on March 7, 2003. In addition, the ‘Bpi’ counterparty credit and financial strength ratings on… Continue reading S&P Lowers Farmers Mutual Ins Co & Rltd Rtgs to ‘Bpi’
A.M. Best Comments on Royal & Sun Alliance USA Insurance Pool and Royal Surplus Lines Insurance Company
OLDWICK, N.J.–(BUSINESS WIRE)–March 6, 2003–A.M. Best Co. has commented that the financial strength ratings of A- (Excellent) of the Royal & SunAlliance USA Insurance Pool (R&SA-USA) (NYSE: RSA) and the affiliated Royal Surplus Lines Insurance Company remain unchanged following the parent company’s announcement of the 2002 year-end results. The U.S. rating outlooks remain negative. As… Continue reading A.M. Best Comments on Royal & Sun Alliance USA Insurance Pool and Royal Surplus Lines Insurance Company
More pain for AMP
By Bruce Brammall 04mar03 WEEKEND pessimism from AMP chief executive Andrew Mohl did nothing to give the company a floor for its share price yesterday. The market again thumped the insurer and funds manager, sending it sharply lower before a slight afternoon recovery. Its shares fell to as low as $6.60, down 40c from Friday’s… Continue reading More pain for AMP
Kemper Announces Intention To Sell Businesses To New Venture
Long Grove, IL, Mar. 4 – Business Wire – The Kemper Insurance Companies today announced plans to sell certain lines of its existing businesses to a new company being capitalized by private equity funds managed by Securitas Capital, LLC, a private equity investment firm affiliated with Swiss Re; The Cypress Group L.L.C.; Gilbert Global Equity… Continue reading Kemper Announces Intention To Sell Businesses To New Venture
A.M Best Continues Eagle Insurance Group’s Secure “B+” (Very Good) Rating
In conjunction with an announcement regarding Kemper Insurance Companies, A.M. Best announced today that Eagle Pacific Insurance Company and Pacific Eagle Insurance Company (Eagle Insurance Group) are now being rated separately from Kemper and continue to merit their “B+” (Very Good) financial strength ratings. A.M. Best describes this rating to be in the “Secure” range.… Continue reading A.M Best Continues Eagle Insurance Group’s Secure “B+” (Very Good) Rating
S&P Withdraws Rating on Principal Insurance — HK
HONG KONG–(BUSINESS WIRE)–March 3, 2003–Standard & Poor’s–Standard & Poor’s Ratings Services said today that it had withdrawn its ‘AA’ insurer financial strength rating on Principal Insurance Co. (Hong Kong) Ltd. at the company’s request. Copyright 2003, Standard & Poor’s Ratings Services
Best Lowers Kemper Rating
Oldwick, NJ, Business Wire March 3, 2003 A.M. Best Co. has lowered the financial strength rating to B (Fair) from B+ (Very Good) of the participants in the Kemper Insurance Companies (Long Grove, IL) inter-company pool, 10 reinsured affiliates and one domestic affiliate. The rating remains under review with negative implications. Additionally, A.M. Best has… Continue reading Best Lowers Kemper Rating
A.M. Best Downgrades Ratings of Ullico Inc.’s Insurance Operations
Oldwick, NJ, Mar. 3 – Business Wire – A.M. Best Co. has downgraded the financial strength ratings to B (Fair) from B+ (Very Good) of ULLICO Inc.’s (Wilmington, DE), life/health subsidiaries, Union Labor Life Insurance Company (Baltimore, MD) and its wholly-owned subsidiary, ULLICO Life Insurance Company (Austin, TX). Also, the financial strength rating has been… Continue reading A.M. Best Downgrades Ratings of Ullico Inc.’s Insurance Operations
S&P Revises Swiss Reinsurance Co. Outlook to Negative
At the same time, Standard & Poor’s affirmed the ‘AA+/A-1+’ counterparty credit and ‘AA+’ insurer financial strength ratings on the group. “The outlook revision reflects the weaker than expected 2003 renewals and that expected profits for 2002 will fall short of Standard & Poor’s expectations,” said Standard & Poor’s credit analyst Stephen Searby. “It also… Continue reading S&P Revises Swiss Reinsurance Co. Outlook to Negative