News

U.S. Loss Reserves Down $14 Billion: Moody’s

Property-casualty insurers in the U.S. have seen their loss reserves dwindle in the past year, losing $14 billion by the end of the fourth quarter, …

Re-Evaluate Ratings System, Says S&P Head

Even before U.S. congressional leaders questioned why ratings agencies continued to uphold AIG’s scores as the company stumbled, the head of a major agency was …

Financial Products Portfolio Still A Risk: AIG’s Liddy

AIG is still at risk from its financial products unit, the company’s chairman and CEO Edward Liddy, told U.S. congressmen Wednesday.
Although the company has …

Briefly… AIG Bonus Uproar, Aviva PLC Ratings Dip

President Barack Obama wants to reclaim $165 million in bonuses paid out to AIG employees. In a March 16 speech, the president said Treasury Secretary …

Aviva PLC Ratings Dip

A.M. Best has downgraded Aviva plc’s (U.K.) financial strength rating from A+ to A, following recent financial results that include £2 billion in investment losses. …

AIG Reveals Counterparties

Global financial institutions and municipalities across the U.S. received the bulk of AIG’s emergency loan funds last year, the company disclosed yesterday.
The company has faced …

A Great Recession, but No Depression: DBRS

Canadians shouldn’t be too quick to think of an early end to the present downturn, says Canadian bond rating agency DBRS. It’s only just begun. …

“Sorry” Doesn’t Mean Liability: Ontario Passes Apology Act

Homeowners, drivers and business owners can say “sorry” without affecting their liability coverage under new legislation passed in Ontario.
According to the Apology Act-Bill 108, …

ICBC Lowers Rates

Stable year-end financial results for British Columbia’s public auto insurer will mean lower optional auto insurance rates for the province’s drivers in 2009.
Although the …

Rumoured ING Canada-Aviva Tie-Up Still Leaves Ample Choice

There are reports this morning that Intact Insurance, the recently rebranded ING Insurance Company of Canada, is in talks to buy the Canadian operations of …

Copyright © 2018 Transcontinental Media G.P.
Transcontinental Media G.P.