Rating Agencies
New York Grabs ‘Shaky’ Lead Over London As Top Financial Center
New York replaced London as the world's leading financial center for the first time, after the City was rocked by a series of scandals and questions over the U.K.'s place in the European Union. New ...
A.M. Best Downgrades Public Service, Affiliates Pending Re for Adverse Development
A.M. Best has downgraded the financial strength rating of Public Service Insurance Co. and its affiliates, Paramount Insurance Co. and Western Select Insurance Co., to "B+" (Good) from "B++" (Good) ...
Fitch Sees Rise in Demand for Private Flood Insurance
As federal subsidies for flood insurance are reduced and the cost of government provided insurance goes up, the demand for private flood coverage could also rise, according to Fitch Ratings. However, ...
Lawyer Says S&P’s Global Biz at Risk on Australia Liability Ruling
Standard & Poor's global business may be at risk after an Australian judge ruled the company misled investors with triple-A ratings on derivatives whose value plunged during the global financial ...
RSA Upgraded by S&P on Planned Share Sale, Buffett Risk Transfer
RSA Insurance Group Plc was upgraded by Standard & Poor's after Chief Executive Officer Stephen Hester announced a stock sale and a deal to transfer risk to Warren Buffett's Berkshire Hathaway ...
AIG U.S. P/C Subs’ Ratings Stable In Spite of Reserve Deficiency: A.M. Best
Rating agency A.M. Best announced Thursday that it affirmed financial strength ratings for AIG's U.S. property/casualty subsidiaries at "A," noting that an estimated reserve deficiency has been ...
Best Downgrades SPARTA to ‘B++’ as Group Mulls Strategies
A.M. Best Co. announced Friday that it has placed the ratings of SPARTA Insurance Group's members (collectively known as SPARTA) under review with negative implications. The rating agency action ...
Reinsurance CEOs: What Alternative Capital Means to Traditional Industry
The hottest topic in the reinsurance world was on the agenda at the Property/Casualty Insurance Joint Industry Forum in January, where two reinsurance executives gave different perspectives on what ...