Standard & Poor’s Ratings Services said today that it has revised its outlook on the core operating entities of French credit insurance group Coface to negative from stable. The core entities are: — France-based Coface S.A., — Germany-based Coface Kreditversicherung …
A.M. Best Co. has withdrawn the financial strength rating (FSR) of ‘B++’ (Good) and issuer credit rating (ICR) of “bbb” of German insurer Wuerttembergische und Badische Versicherungs-AG (WUEBA) and assigned an NR-5 (Not Formally Followed) to the FSR and an …
Guy Carpenter & Company, LLC has published its annual update on legislative and legal developments affecting insurers and reinsurers in Continental Europe. The report – available at: www.GCCapitalIdeas.com – “addresses the implications of the ongoing global financial crisis and highlights …
According to a report from Risk Management Solutions, last week’s extremely heavy rainfall, which continued for three days over Central Europe, triggered severe flooding across parts of the Czech Republic, Germany, Poland and Austria and putting Hungary on a high …
The Swiss Re Group has announced the appointment, effective immediately, of Rudolf Flunger as Head of Insurance & Specialty, the company’s division responsible for commercial insurance, industrial insurance, large corporate risks and specialty re/insurance. Flunger succeeds Agostino Galvagni, who was …
The World Health Organization said Wednesday the world is at the brink of a pandemic, raising its threat level as the swine flu virus spread and killed the first person outside of Mexico, a toddler in Texas. “Influenza pandemics must …
XL Insurance, the global insurance operations of XL Capital Ltd., announced that it will offer insurance solutions to Upper Middle Market companies in Germany with an annual turnover ranging from approximately €30 million (40.48 million to €300 million ($404.8 million). …
Standard & Poor’s Ratings Services has said that its “ratings and outlook on Germany-based global reinsurer Munich Reinsurance Co. (AA-/Stable/–) and core related entities (collectively Munich Re) are unaffected by Munich Re’s withdrawal of its 2010 earnings target” [See IJ …
Willis Group Holdings announced that Adam Garrard has been appointed CEO of Willis Continental Europe and Bill Donovan has been named to succeed him as CEO for Willis Australasia. The appointments were effective January 1, 2009. Both executives will report …
Munich Re has released its annual report on the natural catastrophes that occurred in 2008, which it describes as “one of the most devastating years on record.” 2008’s major catastrophes included a number of tropical cyclones (hurricanes and typhoons) and …
