Latest news with #AlliedWorld
Globe and Mail
11 hours ago
- Business
- Globe and Mail
Markel International appoints Collin Sim as first Casualty Underwriter in Singapore
SINGAPORE , June 25, 2025 /CNW/ -- Markel Insurance, the insurance operations within Markel Group Inc. (NYSE:MKL), today announced the appointment of Collin Sim as Casualty Underwriter, marking the establishment of the company's first dedicated casualty underwriting position in Singapore . In her new role, Sim will be responsible for developing Markel's Casualty presence in Southeast Asia and the broader Asian market. She will focus on building and maintaining strategic relationships with brokers and clients while managing a portfolio of risks in accordance with Markel's underwriting principles. Her appointment supports the company's strategic expansion of casualty underwriting capabilities across the Asia Pacific region. Sim brings over two decades of casualty underwriting expertise across Asia to Markel. She most recently served as Assistant Vice President of General Casualty at Allied World, where she was responsible for managing general casualty direct and facultative business across Southeast Asian markets. Prior to that, she spent 17 years at Gen Re, where she played an instrumental role in developing casualty facultative books across multiple Asian markets, including Singapore , Malaysia , Brunei , and China . Wanshi Lin , Head of Singapore, said: "We are delighted to welcome Collin to Markel. Her extensive experience and deep understanding of the Asian casualty market will be invaluable as we continue to expand our presence in the region. This strategic appointment demonstrates our commitment to building strong underwriting capabilities and delivering exceptional service to our clients and partners across Asia Pacific ." Christian Stobbs , Managing Director - Asia Pacific, commented: "Collin's appointment represents a significant milestone in our regional growth strategy. Her proven track record in developing profitable casualty portfolios and her deep relationships across the Asian insurance market make her the ideal candidate to establish and grow our casualty practice in Singapore ." About Markel Insurance We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide.
Yahoo
12 hours ago
- Business
- Yahoo
Markel International appoints Collin Sim as first Casualty Underwriter in Singapore
SINGAPORE, June 25, 2025 /CNW/ -- Markel Insurance, the insurance operations within Markel Group Inc. (NYSE:MKL), today announced the appointment of Collin Sim as Casualty Underwriter, marking the establishment of the company's first dedicated casualty underwriting position in Singapore. In her new role, Sim will be responsible for developing Markel's Casualty presence in Southeast Asia and the broader Asian market. She will focus on building and maintaining strategic relationships with brokers and clients while managing a portfolio of risks in accordance with Markel's underwriting principles. Her appointment supports the company's strategic expansion of casualty underwriting capabilities across the Asia Pacific region. Sim brings over two decades of casualty underwriting expertise across Asia to Markel. She most recently served as Assistant Vice President of General Casualty at Allied World, where she was responsible for managing general casualty direct and facultative business across Southeast Asian markets. Prior to that, she spent 17 years at Gen Re, where she played an instrumental role in developing casualty facultative books across multiple Asian markets, including Singapore, Malaysia, Brunei, and China. Wanshi Lin, Head of Singapore, said: "We are delighted to welcome Collin to Markel. Her extensive experience and deep understanding of the Asian casualty market will be invaluable as we continue to expand our presence in the region. This strategic appointment demonstrates our commitment to building strong underwriting capabilities and delivering exceptional service to our clients and partners across Asia Pacific." Christian Stobbs, Managing Director - Asia Pacific, commented: "Collin's appointment represents a significant milestone in our regional growth strategy. Her proven track record in developing profitable casualty portfolios and her deep relationships across the Asian insurance market make her the ideal candidate to establish and grow our casualty practice in Singapore." About Markel InsuranceWe are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide. View original content to download multimedia: SOURCE Markel View original content to download multimedia:
Yahoo
12 hours ago
- Business
- Yahoo
Markel International appoints Collin Sim as first Casualty Underwriter in Singapore
SINGAPORE, June 25, 2025 /CNW/ -- Markel Insurance, the insurance operations within Markel Group Inc. (NYSE:MKL), today announced the appointment of Collin Sim as Casualty Underwriter, marking the establishment of the company's first dedicated casualty underwriting position in Singapore. In her new role, Sim will be responsible for developing Markel's Casualty presence in Southeast Asia and the broader Asian market. She will focus on building and maintaining strategic relationships with brokers and clients while managing a portfolio of risks in accordance with Markel's underwriting principles. Her appointment supports the company's strategic expansion of casualty underwriting capabilities across the Asia Pacific region. Sim brings over two decades of casualty underwriting expertise across Asia to Markel. She most recently served as Assistant Vice President of General Casualty at Allied World, where she was responsible for managing general casualty direct and facultative business across Southeast Asian markets. Prior to that, she spent 17 years at Gen Re, where she played an instrumental role in developing casualty facultative books across multiple Asian markets, including Singapore, Malaysia, Brunei, and China. Wanshi Lin, Head of Singapore, said: "We are delighted to welcome Collin to Markel. Her extensive experience and deep understanding of the Asian casualty market will be invaluable as we continue to expand our presence in the region. This strategic appointment demonstrates our commitment to building strong underwriting capabilities and delivering exceptional service to our clients and partners across Asia Pacific." Christian Stobbs, Managing Director - Asia Pacific, commented: "Collin's appointment represents a significant milestone in our regional growth strategy. Her proven track record in developing profitable casualty portfolios and her deep relationships across the Asian insurance market make her the ideal candidate to establish and grow our casualty practice in Singapore." About Markel InsuranceWe are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide. View original content to download multimedia: SOURCE Markel View original content to download multimedia: Se produjo un error al recuperar la información Inicia sesión para acceder a tu portafolio Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información
Yahoo
23-05-2025
- Business
- Yahoo
AM Best Upgrades Credit Ratings of Fairfax Financial Holdings Limited, Its Subsidiaries and Allied World Assurance Company Holdings, Ltd.
OLDWICK, N.J., May 22, 2025--(BUSINESS WIRE)--AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to "a-" (Excellent) from "bbb+" (Good) and upgraded the Long-Term Issue Credit Ratings (Long-Term IR) on the unsecured debt and preferred equity of Fairfax Financial Holdings Limited (Fairfax) (Toronto, Canada) [TSX: FFH]. In addition, AM Best has upgraded the Long-Term ICRs to "a-" (Excellent) from "bbb+" (Good) of Fairfax (US) Inc. (Delaware) and Zenith National Insurance Corp. (headquartered in Woodland Hills, CA), both of which are indirectly, wholly owned downstream holding companies of Fairfax. The outlook of these Credit Ratings (ratings) has been revised to stable from positive. (See below for a detailed listing of Long-Term IRs.) Fairfax's rating upgrades reflect the group's improved earnings in recent years and prospectively. In 2022, Fairfax deployed significant cash assets into higher-yielding fixed-income instruments, which bolstered reliable streams of dividend and interest income. At the same time, the group's underwriting performance recorded record profits despite elevated catastrophe activity. These enhanced returns have allowed the group to grow its capital base and further expand its projected run-rate for operating earnings in future cycles. At the same time, AM Best has upgraded the Financial Strength Rating (FSR) to A+ (Superior) from A (Excellent) and the Long-Term ICRs to "aa-" (Superior) from "a+" (Excellent) of the operating affiliates of Allied World Assurance Company Holdings, Ltd.'s (Allied World Holdings) (Bermuda), collectively referred to as Allied World. Concurrently, AM Best has upgraded the Long-Term ICRs to "a-" (Excellent) from "bbb+" (Good) of Allied World Holdings and its downstream holding company, Allied World Assurance Company Holdings I, Ltd (Bermuda). AM Best also has revised the outlooks to stable from positive. (See below for a detailed listing of the companies and ratings.) The ratings of Allied World reflect its balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management. Allied World's rating upgrades stem from a revision of the operating performance assessment to strong from adequate. Allied World has benefited from improved underwriting ratios, as well as stronger streams of dividend and interest income in recent years. AM Best views Allied World's solid recent and prospective underwriting results as reflective of sound cycle management strategies that have reduced volatility, while at the same time steadily increasing underwriting income. The FSR has been upgraded to A+ (Superior) from A (Excellent) and the Long-Term ICRs to "aa-" (Superior) from "a+" (Excellent) with the outlooks revised to stable from positive for the following operating subsidiaries of Allied World Assurance Company Holdings, Ltd: Vantapro Specialty Insurance Company Allied World Assurance Company, Ltd Allied World Surplus Lines Insurance Company Allied World Assurance Company (U.S.) Inc. Allied World National Assurance Company Allied World Specialty Insurance Company Allied World Insurance Company Allied World Assurance Company (Europe) Designated Activity Company The following Long-Term IRs have been assigned with stable outlooks: Fairfax Financial Holdings Limited— -- "a-" (Excellent) on USD 500 million 5.75% senior unsecured notes, due 2035 -- "a-" (Excellent) on USD 400 million 6.50% senior unsecured notes, due 2055 The following Long-Term IRs have been upgraded with the outlooks revised to stable from positive: Zenith National Insurance Corp.— -- to "bbb+" (Good) from "bbb" (Good) on USD 77.3 million 8.55% subordinated deferrable debentures, due 2028 Fairfax Financial Holdings Limited— -- to "a-" (Excellent) from "bbb+" (Good) on USD 125 million 8.3% senior unsecured notes, due 2026 -- to "a-" (Excellent) from "bbb+" (Good) on CAD 450 million 4.7% senior unsecured notes, due 2026 -- to "a-" (Excellent) from "bbb+" (Good) on CAD 650 million 4.25% senior unsecured notes, due 2027 -- to "a-" (Excellent) from "bbb+" (Good) on EUR 750 million 2.75% senior unsecured notes, due 2028 -- to "a-" (Excellent) from "bbb+" (Good) on USD 600 million 4.85% senior unsecured notes, due 2028 -- to "a-" (Excellent) from "bbb+" (Good) on CAD 500 million 4.23% senior unsecured notes, due 2029 -- to "a-" (Excellent) from bbb+" (Good) on USD 650 million 4.625% senior unsecured notes, due 2030 -- to "a-" (Excellent) from "bbb+" (Good) on USD 600 million 3.375% senior unsecured notes, due 2031 -- to "a-" (Excellent) from "bbb+" (Good) on CAD 850 million 3.95% senior unsecured notes, due 2031 -- to "a-" (Excellent) from "bbb+" (Good) on USD 750 million 5.625% senior unsecured notes, due 2032 -- to "a-" (Excellent) from "bbb+" (Good) on USD 750 million 6% senior unsecured notes, due 2033 -- to "a-" (Excellent) from "bbb+" (Good) on CAD 450 million 4.73% senior unsecured notes, due 2034 -- to "a-" (Excellent) from "bbb+" (Good) on USD 125 million 7.75% senior unsecured notes, due 2037 -- to "a-" (Excellent) from "bbb+" (Good) on USD 1 billion 6.35% senior unsecured notes, due 2054 -- to "a-" (Excellent) from "bbb+" Good) on CAD 250 million 5.23% senior unsecured notes, due 2054 -- to "a-" (Excellent) from "bbb+" (Good) on USD 600 million 6.1 % senior unsecured notes, due 2055 -- to "bbb" (Good) from "bbb-" (Good) on CAD 193.0 million Series G cumulative, five-year rate reset preferred shares -- to "bbb" (Good) from "bbb-" (Good) on CAD 57.0 million Series H cumulative, floating rate preferred shares -- to "bbb" (Good) from "bbb-" (Good) on CAD 260.5 million Series I cumulative, five-year rate reset preferred shares -- to "bbb" (Good) from "bbb-" (Good) on CAD 39.5 million Series J cumulative, floating rate preferred shares -- to "bbb" (Good) from "bbb-" (Good) on CAD 237.5 million Series K cumulative, five-year rate reset preferred shares The following indicative Long-Term IRs on securities available on the universal shelf registration have been affirmed with the outlooks revised to stable from positive: Fairfax Financial Holdings Limited— -- to "a-" (Excellent) from "bbb+" (Good) on senior unsecured debt -- to "bbb+" (Good) from "bbb" (Good) on subordinated debt -- to "bbb" (Good) from "bbb-" (Good) on preferred shares This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Dan Hofmeister, CFA, FRM, CPCU Associate Director +1 908 882 1893 Gregory Dickerson Director +1 908 882 1737 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
22-05-2025
- Business
- Business Wire
AM Best Upgrades Credit Ratings of Fairfax Financial Holdings Limited, Its Subsidiaries and Allied World Assurance Company Holdings, Ltd.
BUSINESS WIRE)-- AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to 'a-' (Excellent) from 'bbb+' (Good) and upgraded the Long-Term Issue Credit Ratings (Long-Term IR) on the unsecured debt and preferred equity of Fairfax Financial Holdings Limited (Fairfax) (Toronto, Canada) [TSX: FFH]. In addition, AM Best has upgraded the Long-Term ICRs to 'a-' (Excellent) from 'bbb+' (Good) of Fairfax (US) Inc. (Delaware) and Zenith National Insurance Corp. (headquartered in Woodland Hills, CA), both of which are indirectly, wholly owned downstream holding companies of Fairfax. The outlook of these Credit Ratings (ratings) has been revised to stable from positive. (See below for a detailed listing of Long-Term IRs.) Fairfax's rating upgrades reflect the group's improved earnings in recent years and prospectively. In 2022, Fairfax deployed significant cash assets into higher-yielding fixed-income instruments, which bolstered reliable streams of dividend and interest income. At the same time, the group's underwriting performance recorded record profits despite elevated catastrophe activity. These enhanced returns have allowed the group to grow its capital base and further expand its projected run-rate for operating earnings in future cycles. At the same time, AM Best has upgraded the Financial Strength Rating (FSR) to A+ (Superior) from A (Excellent) and the Long-Term ICRs to 'aa-' (Superior) from 'a+' (Excellent) of the operating affiliates of Allied World Assurance Company Holdings, Ltd.'s (Allied World Holdings) (Bermuda), collectively referred to as Allied World. Concurrently, AM Best has upgraded the Long-Term ICRs to 'a-' (Excellent) from 'bbb+' (Good) of Allied World Holdings and its downstream holding company, Allied World Assurance Company Holdings I, Ltd (Bermuda). AM Best also has revised the outlooks to stable from positive. (See below for a detailed listing of the companies and ratings.) The ratings of Allied World reflect its balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management. Allied World's rating upgrades stem from a revision of the operating performance assessment to strong from adequate. Allied World has benefited from improved underwriting ratios, as well as stronger streams of dividend and interest income in recent years. AM Best views Allied World's solid recent and prospective underwriting results as reflective of sound cycle management strategies that have reduced volatility, while at the same time steadily increasing underwriting income. The FSR has been upgraded to A+ (Superior) from A (Excellent) and the Long-Term ICRs to 'aa-' (Superior) from 'a+' (Excellent) with the outlooks revised to stable from positive for the following operating subsidiaries of Allied World Assurance Company Holdings, Ltd: Vantapro Specialty Insurance Company Allied World Assurance Company, Ltd Allied World Surplus Lines Insurance Company Allied World Assurance Company (U.S.) Inc. Allied World National Assurance Company Allied World Specialty Insurance Company Allied World Insurance Company Allied World Assurance Company (Europe) Designated Activity Company The following Long-Term IRs have been assigned with stable outlooks: Fairfax Financial Holdings Limited— -- 'a-' (Excellent) on USD 500 million 5.75% senior unsecured notes, due 2035 -- 'a-' (Excellent) on USD 400 million 6.50% senior unsecured notes, due 2055 The following Long-Term IRs have been upgraded with the outlooks revised to stable from positive: Zenith National Insurance Corp.— -- to 'bbb+' (Good) from 'bbb' (Good) on USD 77.3 million 8.55% subordinated deferrable debentures, due 2028 Fairfax Financial Holdings Limited— -- to 'a-' (Excellent) from 'bbb+' (Good) on USD 125 million 8.3% senior unsecured notes, due 2026 -- to 'a-' (Excellent) from 'bbb+' (Good) on CAD 450 million 4.7% senior unsecured notes, due 2026 -- to 'a-' (Excellent) from 'bbb+' (Good) on CAD 650 million 4.25% senior unsecured notes, due 2027 -- to 'a-' (Excellent) from 'bbb+' (Good) on EUR 750 million 2.75% senior unsecured notes, due 2028 -- to 'a-' (Excellent) from 'bbb+' (Good) on USD 600 million 4.85% senior unsecured notes, due 2028 -- to 'a-' (Excellent) from 'bbb+' (Good) on CAD 500 million 4.23% senior unsecured notes, due 2029 -- to 'a-' (Excellent) from bbb+' (Good) on USD 650 million 4.625% senior unsecured notes, due 2030 -- to 'a-' (Excellent) from 'bbb+' (Good) on USD 600 million 3.375% senior unsecured notes, due 2031 -- to 'a-' (Excellent) from 'bbb+' (Good) on CAD 850 million 3.95% senior unsecured notes, due 2031 -- to 'a-' (Excellent) from 'bbb+' (Good) on USD 750 million 5.625% senior unsecured notes, due 2032 -- to 'a-' (Excellent) from 'bbb+' (Good) on USD 750 million 6% senior unsecured notes, due 2033 -- to 'a-' (Excellent) from 'bbb+' (Good) on CAD 450 million 4.73% senior unsecured notes, due 2034 -- to 'a-' (Excellent) from 'bbb+' (Good) on USD 125 million 7.75% senior unsecured notes, due 2037 -- to 'a-' (Excellent) from 'bbb+' (Good) on USD 1 billion 6.35% senior unsecured notes, due 2054 -- to 'a-' (Excellent) from 'bbb+' Good) on CAD 250 million 5.23% senior unsecured notes, due 2054 -- to 'a-' (Excellent) from 'bbb+' (Good) on USD 600 million 6.1 % senior unsecured notes, due 2055 -- to 'bbb' (Good) from 'bbb-' (Good) on CAD 193.0 million Series G cumulative, five-year rate reset preferred shares -- to 'bbb' (Good) from 'bbb-' (Good) on CAD 57.0 million Series H cumulative, floating rate preferred shares -- to 'bbb' (Good) from 'bbb-' (Good) on CAD 260.5 million Series I cumulative, five-year rate reset preferred shares -- to 'bbb' (Good) from 'bbb-' (Good) on CAD 39.5 million Series J cumulative, floating rate preferred shares -- to 'bbb' (Good) from 'bbb-' (Good) on CAD 237.5 million Series K cumulative, five-year rate reset preferred shares The following indicative Long-Term IRs on securities available on the universal shelf registration have been affirmed with the outlooks revised to stable from positive: Fairfax Financial Holdings Limited— -- to 'a-' (Excellent) from 'bbb+' (Good) on senior unsecured debt -- to 'bbb+' (Good) from 'bbb' (Good) on subordinated debt -- to 'bbb' (Good) from 'bbb-' (Good) on preferred shares This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
