Standard & Poor’s Ratings Services has placed its “A-” counterparty credit and financial strength ratings on Oil Insurance Ltd. (OIL) on CreditWatch with negative implications. “The CreditWatch placement follows OIL’s recent announcement that 12 of its shareholders will be withdrawing …
A.M. Best Co. has assigned an “a+” rating to the proposed perpetual step up-loan notes (approximately USD 500 million issued in AUD) to be issued by ELM B.V., a bankruptcy remote repackaging vehicle based in the Netherlands. They are to …
A.M. Best Co. has assigned a financial strength rating (FSR) of “B++” (Good) and an issuer credit rating (ICR) of “bbb” to Moroccan reinsurer Société Centrale de Réassurance (SCR), with a stable outlook. “The ratings of SCR reflect the company’s …
A judge in Florida has ordered Motorola Inc. to pay $22.9 million in attorneys fees and costs to lawyers for a now-defunct technology company, months after a trade secrets lawsuit ended in a hung jury. Circuit Judge Leroy Moe ruled …
A.M. Best Co. has affirmed the financial strength rating of “A-” (Excellent) and the issuer credit rating of “a-” of Australia’s Guild Insurance Limited (GIL) with a stable outlook. Best said the ratings reflect GIL’s improved risk-adjusted capitalization, consistent operating …
Bermuda-based Platinum Underwriters Holdings, Ltd. reported net income of $72.8 million, or $1.08 per diluted common share, for the quarter ended March 31, 2007. The bulletin said the results for the quarter include net premiums earned of $284.8 million, a …
Bermuda’s XL Capital Ltd. reported net income available to ordinary shareholders for the quarter ended March 31, 2007 of $549.7 million, or $3.06 per ordinary share, compared with net income of $458.5 million, or $2.56 per ordinary share, for the …
My Safe Florida Home — a state-funded windstorm mitigation initiative — is vowing to take care of the more than 50,000 homeowners on its pilot program waiting list for services and begin accepting new requests for free wind inspections, according …
Denver-based Pinnacol Assurance, a Colorado workers’ compensation insurer, announced it will issue a general dividend to its policyholders. In mid-May, enearly 56,000 eligible Colorado businesses will receive dividend checks totaling $60 million. “Issuing a general dividend for the third straight …
To increase sales insurance agents should: “Put themselves in their prospective client’s shoes.” More and more consumers are shopping online for insurance. Thousands of insurance prospects go online to find local insurance agents everyday. The solution to contact these insurance …