Author: Farkas Laura

OLDWICK, N.J.–(BUSINESS WIRE)–Feb. 26, 2003–A.M. Best Co. has downgraded the financial strength ratings to B+ (Very Good) from B++ (Very Good) of Annuity and Life Re Holdings’ (NYSE: ANR) (Bermuda) life insurance subsidiaries and the indicative senior debt rating on ANR’s $200 million shelf registration to “b+” from “bbb-“. Additionally, all ratings remain under review… Continue reading A.M. Best Downgrades Ratings of Annuity & Life Re

PALM BEACH GARDENS, Fla.–(BUSINESS WIRE)–Feb. 26, 2003– Manufacturers Life Insurance Company, Allianz Life Insurance Company of North America, Kemper Investors Life Insurance Company, Phoenix Life Insurance Company, and AIG Life Insurance Company were among 71 companies downgraded by Weiss Ratings, Inc., in its recent review of 983 life and health insurers. A total of 22… Continue reading Manufacturers, Allianz, and AIG Downgraded by Weiss Ratings; 71 Life and Health Insurers Downgraded; 22 Upgraded in Recent Review

NEW YORK, Feb 25 – Fitch Ratings, the international rating agency, has downgraded the Insurer Financial Strength ratings of Royal & Sun Alliance Insurance plc (RSAIP) and its U.S. insurance subsidiaries to ‘BBB+’ from ‘A-‘ (Aminus). The agency has also downgraded RSAIP’s Long-term rating to ‘BBB-‘ (BBB minus) from ‘BBB’, and the rating on the… Continue reading Fitch cuts Royal & Sun Alliance’s ratings

OLDWICK, N.J.–(BUSINESS WIRE)–Feb. 19, 2003–A.M. Best Co. has downgraded the financial strength rating to B++ (Very Good) from A- (Excellent) of MLMIC Group, which is based on the consolidated operating performance and financial condition of Medical Liability Mutual Insurance Company, and its wholly owned subsidiaries, Princeton Insurance Company, OHIC Insurance Company and Professional Liability Insurance… Continue reading A.M. Best Downgrades MLMIC Group, Princeton Insurance Company and OHIC Insurance Company

NEW YORK–(BUSINESS WIRE)–Feb. 18, 2003–Standard & Poor’s Ratings Services said today that it placed its ‘BB+’ counterparty credit and financial strength ratings on the members of the Kemper Insurance Cos. Intercompany Pool on CreditWatch with negative implications because Kemper will be significantly challenged to meet Standard & Poor’s expectations in terms of earnings, capital adequacy,… Continue reading S&P Places Kemper ‘BB+’ Ratings on CreditWatch Neg

Fitch Ratings has downgraded Allianz Group’s insurer financial strength rating to AA minus from AA and long-term issuer rating to A from AA minus. Fitch said the action was taken over concerns that the current capital position of the group has been weakened considerably since the first half of 2002. Capital has declined as falling… Continue reading Fitch downgrades Allianz Group

LONDON–(BUSINESS WIRE)–Standard & Poor’s–Feb. 12, 2003–Standard & Poor’s Ratings Services said today it raised its long-term counterparty credit rating on Sweden-based Skandia Insurance Co. Ltd. (Skandia) to ‘A’ from ‘BBB’. At the same time, Standard & Poor’s removed the rating from CreditWatch, where it was originally placed on July 30, 2002. The outlook is negative.… Continue reading S&P Raises Skandia Ins. Rtg to A; Off Watch; Otlk Neg

PARIS–(BUSINESS WIRE)–Standard & Poor’s–Feb. 12, 2003–Standard & Poor’s Ratings Services said today that it had lowered all insurer financial strength and counterparty credit ratings on the core operating companies of Paris-based global insurance and asset management group AXA to ‘AA-‘ from ‘AA’ reflecting an expected reduction in the group’s 2002 operating earnings growth, as well… Continue reading S&P Cuts AXA Group Entities to ‘AA-‘; Outlook Stable

MELBOURNE, Australia–(BUSINESS WIRE)–Standard & Poor’s–Feb. 12, 2003–Standard & Poor’s Ratings Services said today that it has removed from CreditWatch and affirmed the ratings on AMP Life Ltd. at ‘AA-‘ The outlook is negative. At the same time, Standard & Poor’s has removed from CreditWatch and lowered its ratings on the AMP U.K. operating companies, group… Continue reading S&P: AMP Off Watch; Life Affirmed; Rtgs on Subs Lwrd

NEW YORK–(BUSINESS WIRE)–Standard & Poor’s–Feb. 12, 2003–Standard & Poor’s Ratings Services said today that it lowered its long-term counterparty credit and financial strength ratings on Continental Assurance Co. (CAC) and Valley Forge Life Insurance Co. (VFL), which are CNA Financial Corp.’s (CNA) life operations, to ‘A’ from ‘A+’, primarily because Standard & Poor’s wanted to… Continue reading S&P Lowers CNA’s Life and Surety Companies Ratings; Property/Casualty Ratings Affirmed