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OLDWICK, N.J.–(BUSINESS WIRE)–Aug. 28, 2003–A.M. Best Co. has downgraded the financial strength ratings to A+ (Superior) from A++ (Superior) of Muenchener Rueckversicherungs (Munich Re), Germany, and its core subsidiaries. (See list below.) At the same time, A.M. Best has downgraded Munich Re’s EUR 1.15 billion 1.0% senior unsecured convertible Eurobonds due June 2005 to “aa”… Continue reading A.M. Best Downgrades Ratings of Munich Re

Source: Standard & Poor’s CreditWire / Corporate Finance Date: August 07, 2003 NEW YORK (Standard & Poor’s) Aug. 7, 2003–Standard & Poor’s Ratings Services said today that it placed its counterparty credit and financial strength ratings on Chicago, Ill.-based CNA Financial Corp. and its affiliates (collectively, CNA) on CreditWatch with negative implications. Standard & Poor’s… Continue reading S&P Puts CNA Financial and Loews Ratings on Watch Neg

CHICAGO–(BUSINESS WIRE)–Aug. 7, 2003–Fitch Ratings has downgraded various ratings of CNA Financial Corporation (CNA). Both CNA’s and The Continental Corporation’s senior debt ratings were downgraded to ‘BBB-‘ from ‘BBB’. Further, the insurer financial strength ratings for members of The Continental Casualty Pool (CCC), The Continental Insurance Company Pool (CIC) and the primary life insurance subsidiaries… Continue reading Fitch Ratings Downgrades CNA’s Ratings

OLDWICK, N.J.–(BUSINESS WIRE)–July 14, 2003–A.M. Best Co. has affirmed the financial strength rating of B+ (Very Good) of Connaught Insurance Company Limited, the Guernsey-based single parent captive of Thomas Greg & Sons de Colombia S.A. The outlook is stable. The rating reflects the company’s solid operating performance, strong risk-based capitalisation, high levels of liquidity and… Continue reading A.M. Best Affirms Rating of Connaught Insurance Company

OLDWICK, N.J.–(BUSINESS WIRE)–July 10, 2003–A.M. Best Co. has downgraded the financial strength ratings to A+ (Superior) from A++ (Superior) of Great-West Life Assurance Company (GWL) (Winnipeg, Manitoba), its wholly owned core subsidiary, London Life Insurance Company (London, Ontario) and Great-West Life & Annuity Insurance Co. (GWL&A) (Greenwood Village, CO). These ratings have been removed from… Continue reading A.M. Best Downgrades Ratings of Great-West; Affirms Key Financial Strength Ratings and Assigns Initial Debt Ratings to Canada Life

The following statement was released by the rating agency. NEW YORK, July 8 – Standard & Poor’s Ratings Services said today it revised its outlook on various entities of U.K.-based Royal & Sun Alliance Insurance Group PLC (R&SA) to negative from developing. At the same time, Standard & Poor’s affirmed its long-term counterparty credit and… Continue reading S&P Revises Royal & Sun Alliance Entities Outlooks

CHICAGO–(BUSINESS WIRE)–July 7, 2003– Employers can expect more of the same in 2004: double-digit increases to the cost of their health plans. This forecast, according to Aon Consulting’s Spring 2003 Health Care Trend Survey, represents figures from actuaries at more than 20 leading medical, dental, pharmacy and vision insurers. The ramifications for Corporate America: employers… Continue reading AON FORECAST: EMPLOYER HEALTH PLANS TO SEE DOUBLE-DIGIT INCREASES IN 2004 – HEALTH PLAN INCREASES ARE EIGHT TIMES CURRENT INFLATION RATE; INCREASES VARY LITTLE BY PLAN TYPE

LONDON, July 4 – Moody’s Investors Service today downgraded the ratings of Royal & Sun Alliance Insurance Group (RSA) and subsidiaries by one notch. The Insurance Financial Strength Rating (IFSR) of Royal & Sun Alliance Insurance Plc was downgraded to Baa2 from Baa1; its Commercial Paper rating remains unchanged at P-3. The subordinated debt rating… Continue reading Moody’s cuts R&SA’sIFS rating to Baa2

June 26, 3:56 p.m. EDT, New York—A.M. Best has downgraded the financial strength rating of Gulf Insurance Group and its subsidiaries to “A” (Excellent) from “A-Plus” (Superior), citing its concern over the company’s “underwriting deterioration, increased earnings volatility and its diminished standalone capitalization.” The lowered rating for Gulf Insurance Group, which is part of Travelers… Continue reading Best Downgrades Gulf Insurance Rating

OLDWICK, N.J.–(BUSINESS WIRE)–June 26, 2003–A.M. Best Co. has placed the financial strength rating of A (Excellent) of the members of GE Financial/P&C (Fort Washington, PA) under review with developing implications. The action follows the June 25, 2003, announcement that General Electric Company’s (GE) GE Insurance unit agreed to sell GE Property & Casualty Insurance Company… Continue reading A.M. Best Places Rating of GE Financial/P&C Under Review