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By Michael Ha NU Online News Service, Oct. 1, 2003, 4:06 p.m. EDT—Fitch Ratings announced it had lowered Atlantic Mutual Companies’ ratings today, citing its concern that the insurer’s plans to sell off most of its marine business renewal rights will not be enough to replenish the needed capital.The New York-based ratings agency said the… Continue reading Fitch Downgrades Atlantic Mutual

New York, September 12, 2003 — Moody’s Investors Service, commenting on the SEC’s announcement of enforcement actions against American International Group, Inc. (AIG) and others arising from an alleged accounting fraud committed at Brightpoint, Inc., noted that it sees no evident ratings impact for AIG and its subsidiaries. According to the SEC, “The fraud charges… Continue reading MOODY’S COMMENTS ON SEC’S ANNOUNCEMENT OF ENFORCEMENT ACTION AGAINST AIG

LONDON, Sept 10 – Standard & Poor’s Ratings Services said today it affirmed its long-term counterparty credit and insurer financial strength ratings on various entities of U.K.-based Royal & Sun Alliance Insurance Group PLC RSA.L (R&SA). At the same time, Standard & Poor’s lowered to ‘BB+’ from ‘BBB-‘ its long-term counterparty credit and insurer financial… Continue reading S&P affirms R&SA’sratings, cuts US subs, off watch

SYDNEY SHARES in AMP Ltd slumped today as concerns resurfaced about the troubled financial services group needing another capital injection. The group reiterated that it was considering a rights issue, believed to be about $1.2 billion, if its plan to demerge its Australian and British businesses is allowed to proceed. Its comments came as the… Continue reading AMP shares slump as capital concerns resurface

$100 million of Surplus Notes Affected New York, September 05, 2003 — Moody’s Investors Service has placed the ratings of the Atlantic Mutual Companies on review for possible downgrade. Included in the review is the Ba1 rating of Atlantic Mutual Insurance Company’s $100 million in surplus notes due in 2028, as well as the Baa1… Continue reading MOODY’S PLACES ATLANTIC MUTUAL’S RATINGS ON REVIEW FOR POSSIBLE DOWNGRADE

NEW YORK (Standard & Poor’s) Sept. 5, 2003–Standard & Poor’s Ratings Services said today that it lowered its financial strength and counterparty credit ratings on the members of the Royal & SunAlliance USA Group (RSA USA) to ‘BBB-‘ from ‘BBB+’: Royal Insurance Co. of America, Royal Indemnity Co., Connecticut Indemnity Co., Security Insurance Co. of… Continue reading S&P Downgrades Royal & SunAlliance USA Group Members

NEW YORK (Standard & Poor’s) Sept. 3, 2003–Standard & Poor’s Ratings Services said today that it lowered its financial strength and counterparty credit ratings on Employers Reinsurance Corp. and affiliated nonlife insurance/reinsurance entities (collectively ERC) to ‘A+’ from ‘AA-‘. Standard & Poor’s affirmed the ‘A+’ ratings on GE Reinsurance Corp. The outlook is negative. At… Continue reading S&P Downgrades Employers Reinsurance Corp.; On Watch

NEW YORK, Sept. 3, 2003 Copyright 2003 Business Wire, Inc. Standard & Poor’s–Standard & Poor’s Ratings Services today lowered its counterparty credit rating on PartnerRe Ltd. (PRE) to ‘A’ from ‘A+’. Standard & Poor’s also lowered its financial strength and counterparty credit ratings on Partner Reinsurance Co Ltd. and the other core companies of PRE… Continue reading S&P Lowers PartnerRe Group Rtgs; Outlook Stable

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