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London, April 11 – Moody’s Investors Service today placed under review for possible downgrade the ratings of Royal & Sun Alliance Insurance Group (RSA) and its subsidiaries. Moody’s commented that the review will focus particularly on the capital position of the group, which weakened significantly in 2002. Results were adversely affected by a number of… Continue reading Moody’s Puts Royal & Sun Alliance Units Under Review For Possible Downgrade

Prudential and Aviva have become the latest insurers to have their solvency requirements relaxed by the Financial Services Authority. Both firms were granted permission by the regulator to assess their assets and liabilities on a more realistic basis. Friends Provident was also granted a waiver on Wednesday, while Legal & General became the first firm… Continue reading Insurance giants have solvency requirements relaxed

New York, April 8 – Moody’s Investors Service lowered today the debt ratings of ING Groep N.V. (ING Group) and ING Verzekeringen (ING Insurance) to Aa3 from Aa2 for senior debt and to A1 from Aa3 for subordinated debt. The debt ratings of ING America Insurance Holdings, Inc (ING AIH) and related subsidiaries were also… Continue reading Moody’s Cuts ING Group, ING Insurance Ratings

New York, April 8 – Standard & Poor’s Ratings Services said today that it lowered its counterparty credit rating on AEGON N.V. to ‘A+/A-1’ from ‘AA-/A-1+’ because of Standard & Poor’s view that future absolute earnings will be less strong over the short to medium term based on higher credit provisioning, tighter credit spreads, and… Continue reading Standard & Poor’s Cuts Aegon’s Ratings

London, April 8 – Moody’s Investors Service has changed the rating outlook on Swiss Reinsurance Company and subsidiaries to negative from stable. The company is rated Aa1 for insurance financial strength. The outlook change is based largely on the continued negative trend in the company’s profitability, a pronounced decline in its capital position in recent… Continue reading Moody’s Changes Rating Outlook For Swiss RE To Negative From Stable

NU Online News Service, April 7, 4:50 p.m. EST—Completing a rating review that started when ACE revealed $2.2 billion in asbestos losses back in January, Moody’s Investors Service in New York announced today that has lowered some debt and financial strength ratings of ACE Limited. The ratings downgraded in today’s action include long-term and short-term… Continue reading Moody’s Lowers Some ACE Limited Ratings

NU Online News Service, April 4, 3:30 p.m. EST—Moody’s Investors Service announced today that it has downgraded its rating for the world’s largest reinsurer, Munich Re. New York-based Moody’s said the rating action involves lowering financial strength ratings to “Aa3” from “Aa1” for Munich Reinsurance Company, as well as the group’s Hamburg-Mannheimer Versicherungs AG and… Continue reading Moody’s Downgrades Munich Re

OLDWICK, N.J.–(BUSINESS WIRE)–April 2, 2003–A.M. Best Co. has downgraded the financial strength rating to A+ (Superior) from A++ (Superior) of the property/casualty affiliates of Erie Insurance Group (Erie). Along with this action, the group’s life affiliate, Erie Family Life Insurance Company, has been downgraded to A (Excellent) from A+ (Superior). Both companies are located in… Continue reading A.M. Best Downgrades Ratings of Erie Insurance Group and Erie Family Life

OLDWICK, N.J.–(BUSINESS WIRE)–April 2, 2003–A.M. Best Co. has withdrawn the financial strength rating of C (Weak) and assigned a NR-4 rating (Company Request) to Trenwick America Reinsurance Corporation (Stamford, CT). Concurrently, A.M. Best has downgraded the debt rating of the group’s U.S. holding company, Trenwick America Corporation, to “d” from “c” relating to its $75… Continue reading A.M. Best Withdraws Financial Strength and Debt Ratings of Trenwick Group

Travelers Property Casualty Corp. announced that it is strengthening certain reserves at Gulf Insurance, its majority owned subsidiary, resulting in a first quarter 2003 charge to Travelers of approximately $77 million, or $0.08 per share, after reinsurance, tax and minority interest. This reserve strengthening primarily relates to a line of business that insured residual values… Continue reading Travelers P/C Announces First Quarter 2003 Reserve Actions