Insurance Australia Group Ltd IAG will restructure its Australian and New Zealand business to deliver $130 million in savings a year, as it winds bank its operations in the United Kingdom.The insurer said it will continue to pursue growth opportunities in Asia, focussing on Thailand, Malaysia, India and China.But...
WASHINGTON -- A mortgage rescue plan to save hundreds of thousands of homeowners from foreclosure drew overwhelming Senate support Monday, inching toward passage despite Republican objections. The Senate voted 76-10 to advance the bill, a broad array of housing measures including overhauls of the Federal Housing Administration,...
NEW YORK -- Fitch Ratings has taken the following rating actions on the two Ameriquest Net Interest Margin NIM Trusts listed below: Series 2005-RN4: --$7.4 million class A downgraded to 'BBB' from 'AAA'. Underlying Transaction: Ameriquest Mortgage Securities Inc., series 2005-R4 Series...
It must be a bear market because even billionaire Warren Buffett's Berkshire Hathaway Inc. has slumped almost 20 percent since December. The decline exceeds the drop of the Standard & Poor's 500 Index and marks the worst first half for the Omaha, Neb.-based investment and holding company...
DETROIT, July 2 /PRNewswire/ -- The Michigan Attorney General announced on July 2 he was filing a lawsuit against Blue Cross Blue Shield of Michigan challenging a capital transaction between BCBSM and Accident Fund. The Attorney General has taken the position that BCBSM is not authorized by...
WASHINGTON -- A massive foreclosure rescue bill cleared a key Senate test Tuesday by an overwhelming margin, with Democrats and Republicans both eager to claim election-year credit for helping hard-pressed homeowners. The mortgage aid plan would let the Federal Housing Administration back $300 billion in new, cheaper...
PHILADELPHIA, June 17 /PRNewswire/ -- Sherlock Company reported in its PULSE research publication that Blue Cross Blue Shield Plans posted a 18.2% decline in operating earnings as revenues increased by 7.4% in 2007. Insured membership decreased by 1.4% to 51.5 million as ASO revenues posted a mean increase of...
DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/research/b11317/uk_employers_liab) has announced the addition of the "UK Employers' Liability Insurance 2008" report to their offering. Introduction The UK employers' liability market saw profitability deteriorate in 2007 as the soft cycle took its toll on many competitors. This report provides...
OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating of B++Good and the issuer credit rating of "bbb+" of Life Insurance Corporation International B.S.C. C LIC Bahrain. The outlook for both ratings remains stable. The ratings reflect LIC's improved and strong risk-adjusted capitalisation, stable financial...
OLDWICK, N.J. -- A.M. Best Co. has upgraded the financial strength rating FSR to B++ Good from B+ Good and issuer credit rating ICR to "bbb" from "bbb-" of Heartland Fidelity Insurance Company Heartland (Washington, D.C.). The outlook for both ratings is stable. The ratings reflect Heartland's consistent...
ATLANTA -- Atlanta based AssuranceAmerica Corporation (OTCBB:ASAM) today announced that its insurance carrier has been approved by the Tennessee Department of Insurance to write automobile coverages in that state. According to The National Association of Insurance Commissioners, Tennessee generates almost $3 billion in automobile insurance premium annually, making it one...
OLDWICK, N.J. -- A.M. Best Co. has upgraded the financial strength rating FSR to C++ Marginal from C+ Marginal and issuer credit rating to "b" from "b-" of Hereford Insurance Company Hereford (Long Island City, NY). The outlook for both ratings has been revised to stable from negative. ...
OLDWICK, N.J. -- A.M. Best Co. has downgraded the financial strength rating FSR to C+ Marginal from B- Fair and issuer credit ratings ICR to "b-" from "bb-" of the primary operating insurance subsidiaries of Scottish Re Group Limited Scottish Re Cayman Islands [Other OTC: SKRRF.PK]. Concurrently, A.M. Best has...
OLDWICK, N.J. -- A.M. Best Co. has assigned a financial strength rating FSR of B+ Good and an issuer credit rating ICR of "bbb-" to AmFirst Insurance Company AmFirst (Oklahoma City, OK). The outlook assigned to both ratings is stable. The ratings reflect AmFirst's niche market focus in...
NEW YORK & LONDON -- Fitch Ratings believes that Phase II of the insurance contracts standard proposed by the International Accounting Standards Board IASB represents a good opportunity to bring greater comparability and increased disclosure to the insurance industry, as discussed in a special report published today. The...
NEW YORK -- Fitch Ratings has taken the following rating actions on one UBS Mortgage Asset Securitization Transaction MASTR Asset-Backed Securities MABS Net Interest Margin NIM Notes: MABS NIM Trust 2005-OPT1 --$7.3 million class A notes downgraded to 'AA' from 'AAA'. Underlying Transaction: MASTR...
NEW YORK -- Fitch Ratings today has affirmed Marsh & McLennan Companies, Inc.'s MMC ratings as follows: -- Senior debt at 'BBB'; -- Issuer Default Rating IDR at 'BBB'; -- Short-term IDR at 'F2'. The Rating Outlook is Stable. Fitch's...
OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating of A Excellent and issuer credit rating of "a" of New Zealand Local Government Insurance Corporation Limited Civic Assurance New Zealand. The outlook for both ratings is stable. The rating affirmations reflect Civic Assurance's solid risk-based...
OLDWICK, N.J. -- A.M. Best Co. has upgraded the financial strength rating FSR to B- Fair from C++ Marginal and issuer credit rating to "bb-" from "b" of Country-Wide Insurance Company (Country-Wide) (New York, NY). The outlook for both ratings is stable. The upgrades reflect Country-Wide's strengthened risk-adjusted...
OLDWICK, N.J. -- Across the board, GAAP results for health insurers were good in 2007, with many companies seeing a larger portion of their revenues coming from government programs. But some companies have already lowered their earnings guidance for 2008 as a result of lower interest rates and high claims...
Articles 2008-05-12
<< Previous
page 1 of 1
Next >>
Premier Vendor Content
Whitepapers, webcasts & resources from our Power Center Sponsors
