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New York, March 12, 2004 — Moody’s Investors Service has assigned a Baa3 rating to the senior unsecured notes to be issued by Liberty Mutual Group Inc. (LMGI) in a 144A private placement 144A announced earlier today. Moody’s expects the majority of the proceeds from the $500 million transaction will be used to refinance higher… Continue reading MOODY’S RATES LIBERTY MUTUAL GROUP INC’S SENIOR UNSECURED DEBT Baa3; OUTLOOK REMAINS NEGATIVE

NEW YORK–(BUSINESS WIRE)–March 9, 2004–On March 9, 2004, Standard & Poor’s Ratings Services revised its outlook on United Fire & Casualty Co. (NYSE:UFCS), UFCS’s wholly owned property/casualty subsidiaries (Addison Insurance Co. and Lafayette Insurance Co.), and UFCS’s life subsidiary (United Life Insurance Co.) to negative from stable. At the same time, Standard & Poor’s affirmed… Continue reading S&P Announces: United Fire & Casualty Co. and Subsidiaries Outlook Revised to Negative; ‘BBB+’ Ratings Affirmed

NU Online News Service, March 9, 1:46 p.m. EST—Moody’s Investors Service has lowered its debt ratings for the Chubb Corporation to “A2” from “A1”, citing its concerns over the insurer’s earnings volatility and a potential for asbestos losses hurting profits. Moody’s ratings action follows a review initiated last week. The “Aa2” insurance financial strength ratings… Continue reading Moody’s Downgrades Chubb, Cites Earnings Volatility

HARRISBURG, Pa. (BestWire) – Assets of the failed Reliance Insurance Co. trail the company’s outstanding liabilities by nearly $3 billion, and the gap could grow even wider if the company fails to covert a significant portion of its $3.9 billion in reinsurance recoverables, according to the latest filings by the Pennsylvania Insurance Department.    The… Continue reading RELIANCE’S NEGATIVE SURPLUS IS NEARLY $3 BILLION

NEW YORK, Feb. 24, 2004 On Feb. 24, 2004, Standard & Poor’s Ratings Services lowered its counterparty credit and financial strength ratings on American Physicians Assurance Corp. (APA) to ‘BBB-‘ from ‘BBB’ and then removed the ratings from CreditWatch where they were placed on Nov. 26, 2003. The outlook on APA is negative. The rating… Continue reading S&P Announces: American Physicians Assurance Corp. Ratings Lowered, off Watch; Outlook Negative

Standard & Poor’s Ratings Services has lowered its counterparty credit and senior debt ratings on Harleysville Group Inc. to “BBB-” from ‘BBB’. It has also removed the ratings from CreditWatch, where they had been placed on Oct. 17, 2003, and assigned a negative outlook. Summarizing its reasons for the New Year’s Eve announcement, S&P said:… Continue reading S&P Lowers Harleysville Group Ratings to ‘BBB-‘

OLDWICK, N.J.–(BUSINESS WIRE)–Dec. 24, 2003–A.M. Best Co. has downgraded the financial strength rating to A- (Excellent) from A (Excellent) of Employers Reassurance Corporation (ERAC) (Overland Park, KS). The rating outlook is stable.     The rating reflects ERAC’s superior stand-alone risk-adjusted capitalization and favorable liquidity position. Offsetting factors include weak historical financial performance and withdrawal… Continue reading A.M. Best Downgrades Employers Reassurance Corporation

NEW YORK (Standard & Poor’s) Dec. 23, 2003–Standard & Poor’s Ratings Services said today that it affirmed its ‘BBB+’ counterparty credit rating on W. R. Berkley Corp. (NYSE:BER) and its ‘A+’ counterparty credit and financial strength ratings on BER’s operating companies (collectively referred to as Berkley)     Standard & Poor’s also said that the… Continue reading S&P Affirms W.R. Berkley and Subs Rtgs; Outlook Neg

NU Online News Service, Dec. 8, 3:45 p.m. EST—The sale of New York City-based Atlantic Mutual’s commercial business has some rating agencies placing the company on a rating watch as it realigns itself to become a niche player in the high-end personal lines business.    It was announced last week that Atlantic Mutual is selling… Continue reading Atlantic Mutual Leaves Business; Raters Watch

NU Online News Service, Dec. 8, 3:40 p.m. EST—Fitch Ratings, concerned about Harleysville Group Inc.’s lackluster underwriting results, downgraded its long-term and senior debt ratings for the company to “triple-B” from “triple-B-plus,” while assigning for the first time an “A” insurer financial strength rating for the Harleysville intercompany pool. The debt ratings for Harleysville have… Continue reading Fitch Downgrades Harleysville Debt Ratings