Mid-year earnings from bank insurance brokerage hit their highest level ever in the first half of 2008. Bank insurance brokerage earnings in the first six months of 2008 were $2.12 billion, up 6.4 percent from $1.99 billion in the first …
The Annual Reinsurance Rendezvous in Monte Carlo convened this weekend amid concerns over the ongoing credit crisis, the softening of the market and the onslaught of storms in the Caribbean. The current climate for the reinsurance industry is decidedly mixed. …
American International Group sees China becoming a much larger part of its general insurance business within the next five years, Nicholas Walsh, executive vice-president of the foreign general insurance division, said Wednesday. Walsh, a 35-year veteran of the giant insurance …
Darker economic clouds are gathering over the world’s reinsurers as they travel to the Mediterranean coast this weekend to kick-off crucial pricing discussions with their insurance clients in Monte Carlo. Reinsurers should fly down to the south of France in …
Standard & Poor’s Ratings Services has revised its outlook on French reinsurer SCOR SE and its guaranteed subsidiaries (collectively SCOR or the group), to positive from stable. SCOR regained an ‘A-‘ rating from S&P in Sept. 2007, following completion of …
John Charman, chief executive of Bermuda-based Axis Capital Holdings Ltd , said Wednesday that his eyes are open for acquisitions, both large and small. “We would consider acquiring any company that substantially enhances earnings potential,” Charman said at an insurance …
The Alabama Insurance Underwriting Association, a.k.a. the Beach Pool, released a progress report on a series of coastal insurance recommendations made by a state task force following Hurricane Ivan in 2004. The 20-member hurricane insurance issues task force released its …
Standard & Poor’s Ratings Services has assigned its ‘BB-‘ long-term counterparty credit and insurer financial strength ratings and its ‘ruAA-‘ Russian national scale rating to Russian reinsurer Unity Re with a stable outlook. “The ratings are based on the company’s …
A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit rating of “aa” of Allianz S.p.A. (Italy) with stable outlooks. Best said its ratings “reflect the enhancement received from the implicit support of Allianz S.p.A.’s …
Hallmark Financial Services Inc. acquired 80 percent of the outstanding membership interests in Heath XS LLC and Hardscrabble Data Solutions LLC (collectively referred to as “Heath Group”) for cash consideration of $15 million. The transaction was completed using existing holding …
