Standard & Poor’s Ratings Services has assigned its ‘BB’ counterparty credit rating to Bay Point Re Ltd. and its ‘BB’ senior secured debt rating to Bay Point’s term loan debt facility of up to $125 million with a stable outlook. …
In a comment on its CreditWatch placement of Swiss Reinsurance Co. and its core operating companies, Standard & Poor’s Ratings Services has said that the long-term counterparty credit and insurer financial strength ratings on all entities remain on CreditWatch with …
The U.K.’s insurance community is poised to fully enter the electronic age with the announcement from RI3K and Xchanging of the “London Market Electronic Insurance Exchange” (FELIX). The new system is described as providing “a framework that charts the business …
Harrison County, Miss. supervisors are opposed to the Mississippi Windstorm Underwriting Association’s request to raise insurance rates by as much as 397.8 percent, but the opposition comes as no surprise to Insurance Commissioner George Dale. The association provides coverage for …
Luis Gonzalez surrendered in Miami, Fla. to a detective from the Florida Division of Insurance Fraud and was charged with two counts of acting as an unlicensed public adjuster, a third degree felony punishable by up to five years in …
Standard & Poor’s Ratings Services has assigned its “A+” senior unsecured bank loan rating to Starbound Re Ltd.’s $50 million (Debt III) bank loan, its “BBB-” senior unsecured bank loan rating to Starbound’s $50 million bank loan (Debt II subordinated …
Fitch Ratings commented that it does not anticipate that the ratings of Max Re Capital Ltd. and its insurance subsidiaries will be affected by the recent events related to the company’s ongoing internal investigation. Fitch issued the comment following Max …
Brian Dowd, chairman and chief executive officer of ACE USA and chairman of ACE Westchester Specialty, has been appointed to chief executive officer of the company’s Insurance – North American operating division. John Lupica, president and chief operating officer of …
More than 4900 people have now been confirmed dead following the massive earthquake that hit the Indonesia Island of Java on Saturday, May 27, around 6:00 in the morning local time. More than 20,000 have been injured, and an estimated …
A series of violent storms that swept through South Carolina last weekend caused at least $10 million damage, according to the South Carolina Insurance News Service. A survey by the news service, an industry group, shows at least 5,000 insurance …