Rating Agencies
A.M. Best Incorporates Mexican Subsidiary; Opens Office in Mexico City
A.M. Best Co. announced the incorporation of its new subsidiary, A.M. Best América Latina, S.A. de C.V. The new office will be located in the financial district of Mexico City at Paseo de la Reforma ...
Eight P/C Insurer Insolvencies in 2013 are Below Average: A.M. Best
There were a total of eight property/casualty insurers and one life/health insurance company that became financially impaired in 2013, according to A.M. Best. Of the nine impaired companies, eight ...
Top 5 Reserve Boosts in 2013; Fitch Reveals Carriers with Unfavorable Development
Although the property/casualty insurance industry overall will report favorable loss reserve development from prior underwriting periods for the eighth consecutive year in 2013, several individual ...
Five Insurers Lead P/C Industry to 8th Year of Reserve Takedowns: Fitch
Headline reserve charges for Tower Group, Meadowbrook Insurance Group and QBE Americas in 2013 didn't interrupt an eight-year trend of overall prior-year reserve takedowns for the property/casualty ...
Reinsurer Downgrades Ahead, S&P Says; A.M. Best Says Sector Stable
Almost half of the global reinsurers rated by Standard & Poor's are "materially exposed" to competitive pressures, the rating agency said Monday, warning of negative rating actions to come for ...
A.M. Best Moves Tower Rating Status to Developing, Still Under Review
On Friday, A.M. Best Co. announced that it changed the "under review" status Tower Group ratings to "under review with developing" implications rather than "negative" implications—a reaction to ...
Fitch Changes Tower Group’s Rating Watch Status from Negative to Evolving
On Monday, Fitch Ratings revised the Rating Watch status of Tower Group International, Ltd. to Rating Watch Evolving from Rating Watch Negative following Tower's announcement of a planned merger with ...
Fitch Drops Tower Group Rating Another Notch to ‘B’ as RBC Ratios Fall
Fitch Ratings announced Thursday that it downgraded the insurer financial strength ratings of the operating subsidiaries of Tower Group International, Ltd.'s to "B" from "BB." In October 2013, ...