Following its positive decision last May, the European Commission formally accepted the applications by Bulgaria and Romania to join the European Union as of January 1, 2007. They will increase the number of EU member countries to 27, and will …
It’s not just the Italian Football (soccer) team that’s in an expansive mood. Italy’s Generali Group announced that it has signed an agreement for the acquisition of a 51 percent shareholding in Bulgarian insurer Orel-G Holding AD. The shares will …
The river Danube, which wends its way through much of Central and Southeastern Europe, has reached its highest level since 1895 in many places. Flooding in Serbia/Montenegro, Bulgaria and Romania has inundated towns, villages and farmland, forcing thousands from their …
Euler Hermes ACI, a provider of trade credit insurance and risk mitigation information, has released a special global risk analysis report from its U.S. headquarters in Maryland. The company, a subsidiary of French insurer AGF, which is in turn part …
Guy Carpenter & Company Ltd. reported the release of European Flood Report 2005 – Central and Eastern Europe, a detailed summary and review of 2005 Central and Eastern European flood activity. The report, available in both English and German, also …
American International Group Inc. announced that its wholly owned subsidiary, Paris-based AIG Europe, S.A., has received approval from the Insurance State Supervision Service of Georgia for the establishment of a branch in Tbilisi, Georgia. “The AIG Companies are well established …
A number of European insurers and reinsurers have indicated that despite the widespread damages caused by the ongoing floods in Germany and Eastern Europe, their exposure to claims is limited. With analysts now increasing their overall damage estimates daily – …
Dutch financial services giant ING Group has concluded a “strategic alliance” with Greece’s Piraeus Bank which will enlarge its operations in the country, and give it a firm base for further expansion in the region. The two companies announced agreement …
The latest sigma study from Swiss Re provides a detailed overview of Central and Eastern European insurance markets with an analysis of the latest developments in life and non-life insurance in 27 countries, including the CIS, and on progress among …
Germany’s Allianz is in talks with the Czech government concerning the acquisition of its 30 percent holding in the country’s biggest insurance group, Ceska Pojistovna. The move would further strengthen Allianz’ rapidly growing operations in Eastern Europe. CP has 43 …
