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 …
Standard & Poor’s affirmed all its ratings on Germany’s Allianz group, including its double-‘A’-plus long-term counterparty credit and insurer financial strength ratings, and its ‘A-1’-plus short-term ratings, but has revised its outlook to negative from stable. “This is due mainly …
Zurich North America’s Zurich Emerging Markets Solutions (ZEMS) group has concluded a political risk insurance cooperation agreement with IFTRIC, the Israeli government-owned export credit agency to provide political risk insurance for Israeli exporters who export to emerging markets. The announcement …
France’s AXA Group reported lowered cash earnings of € 1.201 billion ($1.059 billion) for the year 2001, despite a 2 percent rise in gross revenues to € 74.8 billion ($65.97 billion). Like almost everyone else in the insurance industry AXA …
If the reports in an article in the French daily Le Monde are correct, the U.S. Attorney’s Office, Bank Regulators and representatives from the French Bank Credit Lyonnais (CL) are near to reaching a deal over the claims against the …
A report commissioned by the European Financial Services Round Table (EFR) has concluded that “the completion of the single market for financial services in Europe would create substantial benefits for consumers across Europe and also for economic growth.” The EFR …
To prosecute, or not to prosecute. The U.S. Department of Justice continues to face that dilemma in its ongoing investigation of French bank Credit Lyonnais’ (CL) role in the takeover of Calif.-based Executive Life in 1991. The U.S. attorney’s office …
The increasingly sophisticated business of constructing catastrophe models is driven by three main imperatives: what are the chances of a given event happening; what are the upper and lower limits of a catastrophic occurrence; and what effect, depending on the …
The increasingly sophisticated business of constructing catastrophe models is driven by three main imperatives: what are the chances of a given event happening; what are the upper and lower limits of a catastrophic occurrence; and what effect, depending on the …
Nationwide Holdings is seeking “substantial” damages from France’s AXA Group as a result of the money laundering scandal that affected PanEuroLife, a Luxembourg-based insurer which Nationwide acquired in 1998. The exact allegations of the complaint, which was filed with the …
