New India Assurance downgraded due to deficiencies in financial reporting
SINGAPORE: The global insurance sector rating agency has revised the outlook for New India Assurance Company Limited to Negative from stable earlier, as the company’s...
AM Best affirms credit ratings of Arabia Insurance Company
LONDON: AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of ARABIA Insurance Company s.a.l....
AM Best affirms ratings of State Automobile Mutual Insurance and its subsidiaries
OLDWICK: AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of State...
AM Best assigns negative outlook to Chile’s insurance industry
MEXICO CITY: Insurance sector rating agency, AM Best has assigned a negative market segment outlook to Chile’s insurance industry, citing contractions of premium volume, limited...
AM Best affirms credit ratings of Wright National Flood Insurance
OLDWICK: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit of “a-” of Wright National Flood Insurance Company...
AM Best downgrades credit ratings of General Insurance Corporation of India
SINGAPORE: Global rating agency AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating...
Fitch Ratings affirms PhosAgro’s investment grade credit rating of BBB-/Stable
MOSCOW: PhosAgro, one of the world’s leading vertically-integrated phosphate-based fertilizer producers, announced that Fitch Ratings has affirmed its Long-Term Foreign- and Local-Currency Issuer Default Ratings...
U.S. insurers’ private equity holdings continue to climb
NEW YORK: U.S. insurance companies for a fourth-straight year increased their private equity holdings by nearly 10% in 2019 to $81.3 billion as this asset...
Stock market volatility puts focus on equity price risking Japan’s non-life insurance market
HONG KONG: High common stock leverage among each of Japan’s major non-life insurers brings systematic equity price risk into greater consideration, given the current COVID-19-driven...
U.S. insurance companies’ exposures to commercial mortgage loans crossed $522bn
OLDWICK: According to insurance sector rating agency AM Best, the U.S. life/annuity (L/A) insurance companies continued to increase their exposures to commercial mortgage loans in...
AM Best affirms credit ratings of Samsung Fire & Marine Insurance of Europe Limited
LONDON: AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” of Samsung Fire & Marine...
Performance bond demand spotlights differences between approaches of European and US models
LONDON: European governments need to seriously consider the behavioural consequences of different performance bond models for government investment projects, especially as they embark on projects...