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Article: Fitch Places 5 Insurers on Rating Watch Negative Amid Katrina Loss Exposures.
- Article from:
- Business Wire
- Article date:
- September 13, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHICAGO -- Fitch Ratings placed the ratings of five North American property/casualty insurance and reinsurance organizations on Rating Watch Negative today based on potential large loss exposures to Hurricane Katrina.
The affected companies include: The Allstate Corporation, Horace Mann Educators Corp., Montpelier Re Holdings, Ltd., PXRE Group Ltd., and State Farm Mutual Automobile Insurance Co. (All affected ratings are listed below.)
Fitch has also reviewed the preliminary loss estimates for the major global reinsurers exposed to Katrina using the same methodology as discussed below for the North American based insurers and reinsurers. To date, Fitch ...