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Spanish market faced with unexpected EUR600mn Klaus bill
Spain's state-sponsored natural catastrophe and terrorism programme, the Consorcio de Compensación de Seguros (Consorcio), is locked in a serious disagreement with the commercial (re)insurance...
16 March 2009
Everest Re loses AA- rating as back years 'plague' results
Ratings agency Standard & Poor's (S&P) has downgraded the insurer financial strength (IFS) rating of Bermudian reinsurer Everest Re to A+ from AA-.
16 March 2009
S&P upgrades SCOR to A
SCOR SE has regained its Standard & Poor’s (S&P) "A" status, as the agency rewarded the reinsurer's underwriting performance and financial resilience with an upgrade to its counterparty credit and insurer financial strength ratings.
16 March 2009
HSBC puts UK insurance arm up for sale
HSBC has put its former Lloyd's insurance business HSBC Insurance (UK) Ltd up for sale, The Insurance Insider can reveal.
16 March 2009
S&P upgrades SCOR to A
SCOR SE has got its Standard & Poor’s (S&P) 'A' back as the agency rewarded the French reinsurer’s underwriting performance and financial resilience with an upgrade of its counterparty credit and insurer financial strength ratings.
13 March 2009
Berkshire loses AAA debt ratings, IFS on negative outlook
Ratings agency Fitch has downgraded the issuer default rating (IDR) of Berkshire Hathaway Inc to AA+ from AAA and its senior unsecured debt ratings from AAA to AA.
13 March 2009
Chaucer mulls approaches as bid deadline passes
Up-for-sale Lloyd’s insurer Chaucer Holdings is mulling a number of approaches after the deadline it set for formal bids passed yesterday (12 March).
13 March 2009
Hannover Re talks tough on mid-year renewals
Outgoing Hannover Re CEO Willie Zeller said the 11 percent rate increases it saw in its US catastrophe lines at the key 1/1 renewals are “encouraging but frankly not enough”.
12 March 2009
Hannover Re falls to first loss in its history, scraps dividend
Global reinsurer Hannover Re has reported a loss of EUR127mn for 2008 – the first annual loss in its history – as investment losses cancelled out a strong underwriting performance.
11 March 2009
Novae pulls out of Chaucer talks
Lloyd’s insurer Novae Group has pulled out of merger discussions with rival Chaucer Holdings.
11 March 2009
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