Three major crossings on the Thames are closed to cars — one of them considered too dangerous even to walk across. Even the landmark Tower Bridge was recently shut for two days.
— Mark Landler
Category: International & World
A pair of hungry and feisty starlings were spotted near St. Andrews, Scotland, duking it out over morsels of food.
— FOX News: Chris Ciaccia
Video testimony from two soldiers supports widespread accusations that Myanmar’s military tried to eradicate the ethnic minority in a genocidal campaign.
— Hannah Beech, Saw Nang and Marlise Simons
Josef Koeberl knows how to keep it cool.
— Greg Norman
Using a term that suggests the society is turning “savage,” government ministers signal a shift from the center as President Macron prepares for a new political season.
— Norimitsu Onishi and Constant Méheut
Migrant children detained at the U.S.-Mexico border should be placed in shelters operated by the Department of Health and Human Services shelters rather than in hotels, a federal judge ruled Friday.
— Brie Stimson
With the coronavirus still spreading, many choirs are gathering only online. But one London group is cautiously attempting a way forward.
— Alex Marshall
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has downgraded the Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating to “bbb+” from “a-” of Insurance Corporation of Barbados Limited (ICBL) (Barbados). Concurrently, AM Best has placed these Credit Ratings (ratings) under review with developing implications.
The ratings reflect ICBL’s balance sheet strength, which AM Best categorizes as strongest, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
This rating action follows the announcement that BF&M Limited, ICBL’s majority shareholder, has sold its 51% share ownership in ICBL to Paynes Bay Finance Inc., an investment vehicle owned and controlled by Joe Poulin through his family office, JPK Capital. The rating downgrades reflect the removal of rating enhancement that ICBL received from BF&M Limited.
Additionally, the under review with developing implications status reflects the need for AM Best to assess the new majority shareholder, its strategic plans for ICBL and the potential impact on the company’s rating fundamentals. The ratings will remain under review until AM Best has conducted detailed discussions with JPK Capital and completes its evaluation of the transaction and the implications for ICBL.
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 media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media – Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
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 New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
Contacts
Ricardo A. Longchallon
Senior Financial Analyst
+1 908 439 2200, ext. 5676
ricardo.longchallon@ambest.com
Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com
Sharon Marks
Associate Director
+1 908 439 2200, ext. 55477
Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com
A 28-year-old pregnant Australian woman said Thursday she was not aware she had broken any law before she was handcuffed and led away by authorities for allegedly inciting activists to demonstrate against COVID-19 pandemic-related shutdown orders.
— Julia Musto