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CCNMatthews – May 02, 2003 14:45 OLDWICK, NEW JERSEY–A.M. Best Co. has placed the financial strength rating of A- (Excellent) of Gerling Canada Insurance Company (Toronto) under review with developing implications. In March, Gerling Canada in tandem with its parent company, Gerling Konzern Allgemeine (Germany), had its rating affirmed; however, the outlook was changed to… Continue reading A.M. Best Places Rating Of Gerling Canada Under Review

(The following statement was released by the rating agency) NEW YORK, May 2 – Standard & Poor’s Ratings Services said today that it lowered its counterparty credit and financial strength ratings on Boston-based Liberty Mutual Insurance Co. (Liberty Mutual) and related entities to ‘A’ from ‘A+’ and removed them from CreditWatch, where they were placed… Continue reading S&P cuts Liberty Mutual Insurance ratings

MELBOURNE (Standard & Poor’s) May 1, 2003–Standard & Poor’s Ratings Services said today that it placed on CreditWatch Negative the ‘AA-‘ insurer financial strength and counterparty credit ratings on AMP Life Ltd., the Australian operating subsidiary of AMP Ltd. AMP Ltd. is a Sydney-based life insurance and funds management group, with operations in Australia and… Continue reading AMP Ratings Placed on CreditWatch Negative

By Mark Skertic Tribune staff reporter May 1, 2003 The collapse of a deal to sell Kemper Insurance Cos.’ underwriting operations resulted in layoffs for about 1,000 employees Wednesday, including 400 in the Chicago area. Last week, a deal to sell Kemper’s insurance underwriting operations to a Swiss-backed investment group fell through. “A lot of… Continue reading Kemper laying off 1,000 in wake of deal collapse

NEW YORK–(BUSINESS WIRE)–April 30, 2003–Standard & Poor’s–Standard & Poor’s Ratings Services said today that it affirmed its ‘BBB’ counterparty credit and financial strength ratings on American Fire & Casualty Co., Ohio Casualty Insurance Co., Ohio Security Insurance Co., and West American Insurance Co., which make up the Ohio Casualty Insurance Co. Intercompany Pool (OCIP), based… Continue reading S&P Affirms Ohio Casualty Ratings; Outlook Negative

NU Online News Service, April 24, 3:11 p.m. EDT— The beleaguered Kemper Insurance Companies said this morning that its previously announced “letter of intent” prepared for the sale of its core middle-market business has been discontinued. The agreement under discussion had involved Kemper’s selling off its middle-market business–including workers’ compensation, auto offerings, as well as… Continue reading Kemper’s Sale Deal Discontinued

New York, April 16 – Moody’s Investors Service has placed the B2 insurance financial strength ratings of Conseco Inc.’s insurance subsidiaries on review for possible downgrade. The rating agency has also confirmed the debt ratings of Conseco (senior at Ca), which continue to have a developing outlook. According to Moody’s, the review will focus primarily… Continue reading Moody’s Puts Conseco Subsidiaries’ B2 Financial Ratings On Review For Downgrade

Business Wire – April 16, 2003 14:24 OLDWICK, N.J.–(BUSINESS WIRE)–April 16, 2003–A.M. Best Co. has downgraded the financial strength ratings to A (Excellent) from A+ (Superior) of Allianz Insurance Company (AIC) and its direct subsidiary, Allianz Underwriters Insurance Company, both of Burbank, CA. The rating outlook is stable for both companies. These rating actions reflect… Continue reading A.M. Best Downgrades Ratings of Allianz Insurance and Allianz Underwriters

New York, April 15 – Standard & Poor’s Ratings Services said it lowered its long-term counterparty credit and insurer financial strength ratings on Germany-based reinsurer Hannover Ruckversicherungs AG (Hannover Re) and other core members of the Hannover Re group to ‘AA-‘ from ‘AA’. At the same time, all ratings were removed from CreditWatch, where they… Continue reading Standard & Poor’s Cuts Hannover RE Ratings

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