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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

term debt ratings of PMA Capital Corporation (PMACC – senior at Baa3) and the A3 insurance financial strength rating of PMA Capital Insurance Company (which operates under the “PMA Re” brand name) on review for possible downgrade. The Baa1 insurance financial strength ratings of the members of PMA Insurance Group were affirmed, with the outlooks… Continue reading Moody’s Reviews Ratings Of PMA Capital And PMA RE For Possible Downgrade

OLDWICK, N.J.–(BUSINESS WIRE)–Feb. 10, 2003–A.M. Best Co. has placed the debt ratings of UnumProvident Corp. (Chattanooga, Tenn.) under review with negative implications, as well as its insurance subsidiaries’ financial strength ratings. (See listing below.) This action is in response to UnumProvident’s recent announcement that the plans to bolster its statutory capital position within certain of… Continue reading A.M. Best Places UnumProvident’s Ratings Under Review