Are you kidding? This is news? Cincinnati is about to go in the tank, because of Fifth Third Bank. Old Republic already IS in the tank. (note Great West, Bituminous and a couple of others are a part of that group) Philadelphia sold! And 2 other Eastern regional carriers (you guess-I’ll leave them nameless) should be sold or merged before the end of 2008. The Iowa regionals are ALL stinging. Liberty and Traveler’s continue to be strong – or any other carrier owned by a foreign parent. Our agency is watching cautiously to see who will have their doors open to new business in 2009.
Which will go first? Hanover or Cincy? Hanover’s recovery makes them ready for sale, even though they are still A-. And cincinnati is rready for sale. Were they downgraded by Best or put on review with negative implications yet? This week i heard Westfield and Cincy may merge?
MUMBAI (Thomson Financial) – Standard & Poor’s Ratings Services it has lowered its outlook on Selective Insurance Group Inc. and its subsidiaries to negative from stable, citing concerns that recent profitability has not been as strong as the ratings agency expected at the current rating level, as well as the decline in capital adequacy since the end of 2006 and relative to peers.
Selective is on the auction block, from what I’ve been hearing.
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Are you kidding? This is news? Cincinnati is about to go in the tank, because of Fifth Third Bank. Old Republic already IS in the tank. (note Great West, Bituminous and a couple of others are a part of that group) Philadelphia sold! And 2 other Eastern regional carriers (you guess-I’ll leave them nameless) should be sold or merged before the end of 2008. The Iowa regionals are ALL stinging. Liberty and Traveler’s continue to be strong – or any other carrier owned by a foreign parent. Our agency is watching cautiously to see who will have their doors open to new business in 2009.
Which will go first? Hanover or Cincy? Hanover’s recovery makes them ready for sale, even though they are still A-. And cincinnati is rready for sale. Were they downgraded by Best or put on review with negative implications yet? This week i heard Westfield and Cincy may merge?
MUMBAI (Thomson Financial) – Standard & Poor’s Ratings Services it has lowered its outlook on Selective Insurance Group Inc. and its subsidiaries to negative from stable, citing concerns that recent profitability has not been as strong as the ratings agency expected at the current rating level, as well as the decline in capital adequacy since the end of 2006 and relative to peers.
Selective is on the auction block, from what I’ve been hearing.