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A.M. Best Co. has placed the financial strength rating of A+ (Superior) for the primary life insurance entities of ING Group’s (ING) U.S. operations (ING USA) (Atlanta, GA) (NYSE:ING) under review with negative implications. This rating action follows ING’s recent announcement that it intends to coinsure its U.S. individual life reinsurance business with Scottish Re… Continue reading A.M. Best Places Ratings of ING’s Domestic Life Insurance Entities Under Review With Negative Implications

Standard & Poor’s Ratings Services has lowered its counterparty and financial strength ratings on Fireman’s Fund Insurance Co. (FFIC) and some of its rated subsidiaries and its financial strength ratings on other units to ‘A’ from ‘A+’. The rating outlook remains negative.    The ratings were lowered because of Standard & Poor’s incremental concern regarding… Continue reading S&P Lowers FSR for Fireman’s Fund, Some Subs

A WSJ article (“Did AIG Hold Back on Its News?”, October 5, 2004) described “…transactions that it [AIG] arranged for PNC Financial Services Group, Inc. earlier this decade to allegedly help smooth the bank’s quarterly results.” More importantly, the WSJ article stated “…that the SEC enforcement staff has cited five other transactions, marketed as “GAITS,”… Continue reading Insurance Companies’ Reserves and Financial Results

New York, October 12, 2004 — Moody’s Investors Service announced today that it has placed the insurance financial strength and surplus note ratings of Atlantic Mutual Insurance Company and its rated affiliates on review for possible downgrade. The rating agency stated that the rating action reflects a number of recent events and trends, including the… Continue reading MOODY’S REVIEWS RATINGS OF ATLANTIC MUTUAL FOR POSSIBLE DOWNGRADE

Trinity Universal Insurance Company Affirmed at A2 New York, September 29, 2004 — Moody’s Investors Service downgraded Unitrin, Inc.’s (Unitrin) senior unsecured debt and issuer ratings to Baa1 from A3, and United Insurance Company of America’s (United) insurance financial strength rating to A1 from Aa3. The rating agency also affirmed Trinity Universal Insurance Company’s (Trinity)… Continue reading MOODY’S DOWNGRADES UNITRIN (SENIOR DEBT TO Baa1) AND UNITED INSURANCE CO. OF AMERICA (INSURANCE FINANCIAL STRENGTH TO A1)

OLDWICK, N.J.–(BUSINESS WIRE)–Sept. 29, 2004–A.M. Best Co. has downgraded the financial strength rating to B (Fair) from B++ (Very Good) of Converium Insurance (North America) Inc. (CINA) (Fort Lee, NJ) following the latest announced business plan by its parent company, Converium AG (Converium) (Switzerland). Concurrently, A.M. Best has downgraded the issuer credit rating to “b-”… Continue reading A.M. Best Downgrades and Removes Ratings From Under Review of Converium Insurance and Converium Holdings Both of -North America- Inc.

A.M. Best Co. announced that it has downgraded the financial strength rating to “D” (Poor) from “C+” (Marginal) of Doctors Benefit Insurance Company Ltd., which is located in St. Michaels, Barbados. The rating outlook is stable. “This rating action reflects recent findings that are likely to have a negative impact on Doctors Benefit’s operations and,… Continue reading Best Downgrades Doctors Benefit to ‘D’

Standard & Poor’s Ratings Services affirmed its “AA-” counterparty credit and financial strength ratings on Cincinnati Insurance Co., Cincinnati Casualty Co. and Cincinnati Indemnity Co. (CIC). At the same time, Standard & Poor’s affirmed its “A” counterparty credit and senior unsecured debt ratings on Cincinnati Financial Corp. The outlook remains negative. S&P said the ratings… Continue reading S&P Affirms Cincinnati Insurance and Subsidiaries, But Retains Negative Outlook

NEW YORK–(BUSINESS WIRE)–Sept. 15, 2004–On Sept. 15, 2004, Standard & Poor’s Ratings Services placed all its ratings on PacifiCare Health Systems Inc. (NYSE:PHS; PacifiCare) on CreditWatch with negative implications. The CreditWatch follows today’s joint announcement by PacifiCare and American Medical Security Group Inc. (NYSE: AMZ; not rated) that they have signed a definitive agreement whereby… Continue reading S&P Announces: PacifiCare Health Systems Inc. Ratings Placed On CreditWatch Negative

NEW YORK (Standard & Poor’s) Sept. 15, 2004–Standard & Poor’s Ratings Services said today that it lowered its counterparty credit and financial strength ratings on Physicians Mutual Insurance Co. (PMIC) and its wholly owned subsidiary, Physicians Life Insurance Co. (PLIC), to ‘AA-‘ from ‘AA’. Standard & Poor’s also said that the outlook on these companies… Continue reading S&P: Physicians Mutual Insurance Co. and Subsidiary Ratings Lowered to ‘AA-‘; Outlook Stable