Standard & Poor’s Ratings Services issued a bulletin noting that Australia and New Zealand’s Promina Group Ltd.’s reported half-year profits of A$135 million ($U.S.$87 million) after tax, indicating that the results were “broadly in line with Standard & Poor’s expectations …
Insurance Australia Group Ltd. joined the growing ranks of insurers reporting strong profits. The group, which includes Insurance Australia Ltd. the successor to NRMA, the country’s largest auto insurer, reported full year, 2002-03, net profits of A$153 million (U.S. $100 …
Standard & Poor’s has released a report on the life and nonlife insurance sectors in Australia that concludes the two are facing “very different operating environment dynamics in 2003.” It is the rating agency’s first industry report card that looks …
Fifty-three years ago, 13 young American women started something that seemed so small back then. They built it up and nurtured it with their spiked shoes and flat putters and today, what seemed like a novel idea more than half …
Despite its relatively small size, rocky terrain and famously inclement weather, Scotland has given the world two extraordinary gifts—whisky and golf. Although, like most games, it’s played with a ball, golf isn’t the equivalent of a “combat situation.” You don’t …
AXA reported consolidated revenues of Euro 37.5 billion for the first half of 2003. On a comparable basis (adjusted for scope and currency changes), revenues grew by 3.5 percent compared to the same period last year. On a reported basis, …
The ongoing investigation into the collapse of Australia’s HIH Insurance Ltd. in March of 2001 with debts in excess of A$5.3 billion (U.S. $3.57 billion) has produced its first criminal charges against the bankrupt insurer’s former management team. A report, …
Cybersettle, Inc., a leading online settlement company, announced that it has been granted patents in Australia and Singapore for its systems and methods used in resolving disputes. It received a similar patent in the U.K. earlier this year. “The Cybersettle …
Standard & Poor’s Ratings Services announced that it has affirmed its ‘AA’ counterparty credit and insurer financial strength ratings on IAG New Zealand Ltd. with a stable outlook. “The rating affirmation takes into account the merger and integration of New …
Workers’ compensation costs per claim in Illinois were among the highest of the states analyzed in a new study and continuing to rise, according to the Workers Compensation Research Institute (WCRI). The study of 12 states, representing 50 percent of …
