The entire Italian Peninsula from Venice to Sicily was plunged into darkness early Saturday morning by a massive power failure that knocked out the national electrical grid, stranding travelers, creating chaos in the streets and largely bringing the country to …
A.M. Best Co. announced that it has affirmed the A-(Excellent) financial strength ratings of Denmark’s Tryg-Baltica Insurance, International Insurance Company (TBI), and its London-based subsidiary Tryg-Baltica International (UK) Limited (TBI-UK). The rating agency also said that it has removed the …
Assurant Group, a provider of specialty risk management programs for the financial services industry, and the Kingston Economic Development Corporation have announced plans for Assurant to build a new operations center in Kingston, Ontario. Plans call for the initial construction …
Nordea, Scandinavia’s largest financial services and insurance group, announced that CEO Thorleif Krarup has resigned “for family reasons,” and will be succeeded by Lars G. Nordstroem. Nordea, formed in 2000 by a merger between Finland’s Merita Bank and Sweden’s Nordbanken, …
California-based Risk Management Solutions (RMS) has expanded its catastrophe modeling capabilities to include windstorm risk in Ireland and Sweden, and earthquake risk in Turkey and the Philippines. The expansion brings the total number of territories in the RMS suite of …
A.M. Best Co. announced that it will maintain the “under review status” with developing implications of its A- (Excellent) financial strength rating on Tryg-Baltica Insurance, International Insurance Company A/S, Denmark, and its wholly owned subsidiary, Tryg-Baltica International (UK) Limited. The …
A violent storm sweeping in off the North Sea over the weekend has left a trail of devastation in Northern England, Wales and Scotland. With wind gusts reaching 120 mph. The storm caused the deaths of 7 persons, halted rail …
The long wait is finally over, as more than 300 million people in 12 member countries of the European Union finally said goodbye to their francs, marks and liras and began using Euros. The conversion is the culmination of a …
A.M. Best announced that it has downgraded the financial strength rating of Denmark’s Copenhagen Reinsurance Group to C+ (Marginal) from B (Fair). It also withdrew its rating on Copenhagen Re at the company’s request. “The lowering of the rating follows …
American International Group and the European insurance consortium Eureko Alliance have agreed to form a cooperative venture to market and service multinational employee benefits programs worldwide. They plan to establish a joint office in Zurich, Switzerland, and will establish joint …
