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Insurance
Rating agency AM Best has upgraded the financial strength rating (FSR) of Travelers from A+ to A++, the highest possible rating. 27 May 2014
Insurance
Moody's Investors Service has formed a dedicated global Islamic finance group (IFG) to meet the growing demand for Islamic finance credit ratings and research, as Islamic capital markets, insurance products and banking continue to register double-digit growth rates. 22 May 2014
Insurance
Standard & Poor’s has upgraded the financial strength and counterparty credit ratings of ACE Limited’s core operating insurance companies to AA from AA- citing the company’s strong balance sheet and track record of superior operating performance relative to its peers. 20 May 2014
Insurance
United Insurance Holdings has signed a non-binding letter of intent to acquire fellow Floridian property and casualty (P&C) insurer Sunshine State Insurance Company (SSIC). 16 May 2014
Insurance
Rating agency AM Best has downgraded the financial strength and issuer credit rating of The Mediterranean & Gulf Insurance & Reinsurance Company (Medgulf Bahrain) and The Mediterranean and Gulf Cooperative Insurance and Reinsurance Company, a Saudi joint stock company, (Medgulf KSA), as a result of material underwriting losses at the Saudi subsidiary. 16 May 2014
Insurance
US property and casualty (PC) insurers suffered losses throughout the first quarter of 2014, driven primarily by higher weather-related losses and elevated non-CAT losses. 16 May 2014
Insurance
Rating agency AM Best has upgraded the issuer credit rating and outlook for the Dubai Insurance Company (DIC) following the insurer’s strong operating results and risk-adjusted capitalisation. 16 May 2014
Insurance
Novae Group, the specialist Lloyd’s insurance group, enjoyed solid growth in the first three months of 2014 in what it described as a challenging rating environment as it targeted more speciality classes of business. 14 May 2014
Insurance
Catlin Group posted very healthy growth in the first quarter of 2014 driven by its reinsurance book and international operations. While its CEO warned on softening rates in catastrophe-exposed lines, he said some hardening was occurring elsewhere. 14 May 2014
Insurance
Troubled insurer Tower Group and its subsidiaries have been downgraded by AM Best following its recent disclosure of a new $63 million reserve charge in its delayed results covering the fourth quarter of 2013. 12 May 2014
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