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Brit handed 'negative' outlook; rating affirmed
Brit Insurance Ltd (BIL) has received a "negative" outlook on its insurance financial strength (IFS) rating by Fitch Ratings, following concerns over its regional UK expansion.
09 June 2008
Seaton and Stonewall drop jurisdiction objections
The dispute between Randall & Quilter (R&Q) affiliate Cavell USA and private equity owned run-off insurers Seaton Insurance Co and Stonewall Insurance Co is set for an airing in the English courts this autumn.
09 June 2008
Brazil regulations still a challenge
Regulatory hurdles in Brazil are one of the biggest challenges for risk managers despite the recent deregulation of the country's reinsurance market, according to Willis Energy.
09 June 2008
MBIA and Ambac downgraded by S&P
Bond insurers MBIA and Ambac have spoken out after their AAA ratings were downgraded to AA by Standard & Poor's (S&P) and placed under review by Moody's.
09 June 2008
S&P slashes SCA units' ratings to BBB-
Security Capital Assurance (SCA) has been hit by a further blow with the three notch downgrade of its two main operating units from A- to BBB- by Standard & Poors' (S&P) on Friday (6 June).
09 June 2008
Market awaits Florida fund reinsurance decision
Florida property reinsurance underwriters are set to find out tomorrow (10 June) whether they will benefit as a result of fresh demand from the state’s hurricane cat fund.
09 June 2008
Willis will lose HRH contingent commissions in three years
Willis has committed to phasing out its newly acquired contingent commissions within three years following its announced acquisition of Hilb Rogal & Hobbs (HRH) for $2.1bn.
09 June 2008
RBS shareholders back £12bn capital raise; ZFS interest mellowing after job cuts?
The Royal Bank of Scotland (RBS) received some positive news after the bank revealed over 95 percent of shareholders had subscribed to its £12bn rights issue.
09 June 2008
Willis buys HRH in $2.1bn deal
Willis Group Holdings Ltd is to buy the US retail broker Hilb Rogal & Hobbs Company (HRH) in a $2.1bn deal.
09 June 2008
Energy start-up Torus to secure First Reserve backing
Energy and property start-up Torus Insurance is set for a 1 July launch after securing backing from First Reserve Corporation, The Insurance Insider revealed last week.
09 June 2008
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