Germany’s Allianz Group posted net income of € 1.9 billion ($1.73 billion) in the first quarter compared to € 704 million ($641 million) in the same period last year, a sizeable 170 percent increase, even though a portion of it …
France’s AXA announced plans to undertake a wholesale restructuring of its p/c operations in the U.K. which will eventually involve the loss of between 700 and 1000 jobs. The job cuts are aimed at stopping the losses and improving the …
France’s AXA Group reported that consolidated revenues for the first quarter rose 1.9% to € 21.1 billion ($19.2 Billion) compared with the prior year period, largely driven by a hefty 24.3 percent rise in international insurance sales which surged by …
Bermuda-based XL Capital Ltd reported that its net income for the first quarter ended March 31 was $89.5 million, or $0.65 per share, compared with $218.9 million, or $1.73 per share, in the first quarter of 2001, a 59 percent …
A report from Dow Jones indicates that France’s AXA Group plans to increase the capitalization of its Corporate Solutions Division with a cash injection of between € 500 million and € 1 billion ($441 million and $882 million). The Division, …
Mondial Assistance, which was originally established in France in 1974, became a wholly owned subsidiary of Allianz when it acquired AGF. The division now employs approximately 5,000 people, has offices on all five continents, and last year processed about twelve …
The heads of France’s AXA Group and Germany’s Commerzbank have both indicated that their company’s respective stakes in French bank Credit Lyonnais may be for sale, but that they have no immediate plans to do so. According to a report …
Six of the world’s largest insurance companies announced that they intend to establish a joint venture in Luxembourg, named Special Risk Insurance and Reinsurance Luxembourg S.A. (SRIR), to provide “limited coverage” for physical loss or damage to insured properties with …
France’s AXA Group, one of the world’s largest insurers, announced that it aims at optimizing the purchase of goods and services by AXA companies, and described the move as “one of the keys to the operational excellence of the Group.” …
France AXA Group hopes to acquire the Hôtel Drouot, the collective enterprise that runs Paris’ famous art auctions, and has bid € 82 million ($72.8 million) to for its property assets and publishing rights. Drouot’s origin go back to the …
