All the headlines from our S&P Topic Page, ordered by recency.
Feb 16 2004 // The Navigators Group, Inc. announced that it expects to record a net pre-tax charge of approximately $31.6 million for incurred losses related to asbestos exposures, after expected reinsurance recoveries million of...
Feb 12 2004 // Pennsylvania’s Harleysville Group Inc. (HGIC) announced that it is increasing loss reserves for prior accident years by $42 million pre-tax, or $0.92 per share after tax, in the fourth quarter of 2003, reflecting...
Feb 11 2004 // Standard & Poor’s Ratings Services announced that it has revised its outlook on U.K.-based insurers AXA Insurance U.K. PLC, AXA General Insurance Ltd., and AXA Direct Insurance Ltd. (collectively AXAI) to...
Feb 3 2004 // According to a new report from Standard & Poor’s Ratings Services, “reinsurance companies are trailing U.S. insurers in their recognition of inadequate reserves, and as their backing turns to bad debt,...
Feb 2 2004 // Standard & Poor’s Ratings Services made several announcements concerning PMA Capital Corp.’s (PMACA) credit ratings. It has lowered its counterparty credit rating on PMACA to “CC” from...
Jan 28 2004 // The St. Paul Cos. announced that the company expects fourth-quarter net income of 19 cents to 21 cents per share and operating earnings per share of zero cents to 2 cents. In the quarter, the company recorded a charge of...
Jan 22 2004 // Standard & Poor’s Ratings Services announced that, following a review, it has affirmed its ratings on Holland’s ING GROEP N.V. and related entities, “including its ‘A+/A-1’ counterparty...
Jan 21 2004 // Standard & Poor’s Ratings Services announced that it has affirmed its ‘AA+’ long-term counterparty credit and insurer financial strength ratings on Jupiter Insurance Ltd., the Guernsey-based captive...
Jan 15 2004 // Both A.M. Best and Standard & Poor’s Ratings Services reacted to XL Capital Group’s announcement yesterday that its aggregate reserve additions in 2003 would be around $908 million pretax ($694 million in...
Jan 15 2004 // Standard & Poor’s Ratings Services has assigned its ‘R’ financial strength rating to Waukegan, Ill.-based Statewide Insurance Co. after the Illinois Department of Insurance ordered the company to be...
Jan 9 2004 // Standard & Poor’s Ratings Services announced that it has lowered its ratings on chassis and marine cargo container lessor Interpool Inc., including the corporate credit rating to ‘BB’ from...
Jan 9 2004 // Standard & Poor’s Ratings Services announced that it has affirmed its ‘A’ insurer financial strength rating on U.K.-based Minster Insurance Co. Ltd. The rating was simultaneously withdrawn at the...
Jan 2 2004 // 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...
Dec 29 2003 // Standard & Poor’s affirmed its ‘BBB+’ counterparty credit rating on W. R. Berkley Corp. At the same time, Standard & Poor’s affirmed its ‘A+’ counterparty credit and financial...
Dec 29 2003 // In addition to affirming W.R. Berkley’s overall ratings (see related article in National news), Standard & Poor’s Ratings Services also announced that it has assigned its preliminary ‘BBB+’...
Dec 23 2003 // 14 securities firms announced that they have formed the Customer Asset Protection Company (CAPCO). The captive insurer, licensed in New York, will provide excess securities account protection (“Excess SIPC”)...
Dec 23 2003 // According to a report released by the Insurance Services Office Inc. (ISO) and the National Association of Independent Insurers, the U.S. property/casualty industry’s net income after taxes increased to $21.1 billion...
Dec 22 2003 // Standard & Poor’s Ratings Services announced that it has lowered its counterparty credit and financial strength ratings on Medical Protective Co. (MedPro), a subsidiary of GE Global Insurance Holdings that it...
Dec 19 2003 // Standard & Poor’s has assigned its ‘AAA’ senior debt rating to Berkshire Hathaway Finance Corp.’s (BHFC) $500 million private-placement debt securities offering.BHFC is a financial subsidiary...
Dec 19 2003 // Standard & Poor’s Ratings Services has lowered its counterparty credit rating on Horace Mann Educators Corp. to “BBB” from “BBB+.”At the same time, Standard & Poor’s lowered...