The federal government has again postponed until 2013 the deadline for all states to be in compliance with the REAL ID program, which sets minimum national standards for drivers licenses and identification cards.

The move has been cheered by states that see REAL ID as a costly mandate from the federal government. However, key House Republicans criticized the extension as not in the best interests of national security.

The REAL ID law, a recommendation of the 9/11 Commission, was passed by Congress in 2005 and supported by President George W. Bush as a nationwide identification system aimed at stopping terrorists, criminals and illegal immigrants.

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A.M. Best Co. has affirmed the financial strength rating of ‘A’ and issuer credit ratings of “a” of Endurance Specialty Insurance Ltd. and its affiliates. Best also affirmed the ICR of “bbb” and debt ratings of the publicly traded parent company, Endurance Specialty Holdings, Ltd.

The outlook for all ratings is stable. All of the above companies are domiciled in Bermuda.

The ratings reflect Endurance’s “strong level of risk-adjusted capitalization, solid historical operating performance over the last few years and its specialty focused, diversified business profile,” said Best. “Over the last fe

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Iran’s biggest crude oil tanker operator, NITC, said on Friday that its club of ship insurers had declined to renew policy cover for the coming year due to the impact of tightening sanctions in the European Union.

Western nations suspect Iran is seeking to develop a nuclear bomb, although Tehran says the program is peaceful.

NITC gets its third party liability insurance and pollution cover from the P&I Club market, which are marine insurers owned by shipping clients.

“NITC has found itself caught up in a situation of tightening sanctions as a totally innocent party, along with some 100 other Iranian shipping companies,” NITC chairman and managing director Mohammad Souri said in a statement.

Souri said it hoped for an early resolution of this matter and “speedy renewal of cover” from international group clubs.

“In the meantime, the company has been obliged to ensure that alternative P&I arrangements are in place for all ships trading in its international fleet, up to the required level of $1 billion of pollution cover for each incident,” he said.

“That cover is being provided by a mixture of fixed-premium insurers and other insurance companies based outside the EU, with adequate and suitable reinsurance provision.”

Dutch insurer Aegon announced a 19 percent drop in fourth quarter net profit Thursday, and said it would issue shares worth about 900 million euros ($1.24 billion) to pay back a state loan.

The company said it made a net profit of 318 million euros in the fourth quarter, lower than the 363 million euros predicted by analysts polled by Dow Jones Newswires. This was partly the result of impairment charges and other charges for the consolidation of US-based operations.

Aegon, which received three billion euros from the Dutch government amid the global financial crisis in October 2008, hopes to repay the outstanding 2.25 billion euros “by the end of June 2011″.

Some of the money would also come from selling a US life insurance subsidiary, Transamerica Reinsurance, according to Aegon spokesman Dick Schiethart.

The company hopes to resume dividend payments next year. Aeg

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