Best Affirms Russian Re’s ‘B+’ Ratings; Outlook Stable

believes that Russian Re’s risk-adjusted capitalization is excellent, supported by the retention of earnings and low investment risks. Following the Russian Federation’s new legislative requirements, Russian Re increased its share capital from RUB 120 million

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Best Affirms Zurich Insurance and Group ‘A+’ Ratings; Outlook Stable

of Swiss-based Zurich Insurance Company Limited (ZIC)), the main operating company of Zurich Insurance Group Ltd.

Best also assigned ratings and affirmed the existing ratings of the debt instruments issued or guaranteed by ZIC, as well as the ICR of

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Best Affirms Donegal Group’s Members, Affiliates Ratings; Outlook Stable

September 28, 2012Email ThisPrintNewslettersTweetArticleComments

A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of

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Best Revises HDI V.a.G., Talanx ICR Outlook to Positive; Affirms Ratings

Rating Services Limited has revised the outlook of the issuer credit rating (ICR) to positive from stable and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the ICR of

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Drought Holds Steady in Midwest, Clouding Winter Crop Outlook

October 12, 2012Email ThisPrintNewslettersTweetArticleComments

The nation’s worst drought in decades showed no signs of improvement last week in parts of the Midwest and Plains where the corn harvest is about two-thirds complete, clouding the prospects for the winter wheat crop, according to a drought report released Oct. 11.

The U.S. Drought Monitor’s weekly update, showing that nearly two-thirds of the lower 48 states remained mired in some form of drought, was released the same day the federal government lowered for the fourth month in a row its projection for the size of this year’s corn crop.

The USDA now estimates that farmers will harvest 10.71 billion bushels of corn, down from last month’s estimate of 10.73 billion bushels. The average yield is about 122 bushels per acre, off from July’s projection of 122.8 bushels.

The dry conditions remained unchanged in Iowa, the nation’s biggest corn producer, with three-fourths of the state still in the extreme or exceptional drought

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Best Affirms Colonial Group and Subs Ratings; Outlook Stable

September 28, 2012Email ThisPrintNewslettersTweetArticleComments

A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A-’ (Excellent) and issuer credit ratings (ICR) of

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Best Affirms MAPFRE RE FSR; Downgrades ICR; Off Review; Negative Outlook

and affirmed the financial strength rating of ‘A’ (Excellent) of MAPFRE RE, Compania de Reaseguros, S.A, a key subsidiary of MAPFRE S.A. (both domiciled in Spain), the ultimate holding company of the MAPFRE Group.

Best also, announced that all of the ratings have been removed from under review with negative implications and assigned a negative outlook.

As Best announced in conjunction with these current rating actions, they follow a series of actions taken last December to address the implications for euro zone insurers. Generally it changed the outlook on the ratings, including MAPFRE Re’s, to negative from stable, while it carried out a more extensive review.

Best explained that the rating actions “consider the higher country risk faced by MAPFRE RE and MAPFRE S.A. (the consolidated group), due to the deterioration in the sovereign creditworthiness of Spain. In particular, the downgrading of the ICR of MAPFRE RE is driven by the assessment of the consolidated group’s financial strength.”

MAPFRE S.A. maintains significant investments in the peripheral euro zone economies, with Spanish debt accounting for 53 percent of the consolidated group’s

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