Many European countries observed Sunday, Jan. 27 as Holocaust Memorial Day, a time set aside to honor the memory of the 12 million human beings—over six million of them Jewish—who perished at the hands of the Nazis during World War …
German insurance giant Allianz AG confirmed the adverse affects of last September’s attacks on the World Trade Center with the announcement that preliminary figures indicated a net operating profit for 2001 of around € 1.7 billion ($1.48 billion), down sharply …
Standard & Poor’s took steps to equalize the ratings of French-based credit insurance group EULER and Germany’s Hermes Kreditversicherungs-AG (Hermes) following their announcement that they were close to finalizing the terms for combining their operations. S&P affirmed its ratings on …
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 …
Standard & Poor’s today affirmed its “AA” long-term counterparty credit and insurer financial strength ratings on the operating entities of Paris-based global insurance group AXA, as well as its “A+” long-term counterparty credit ratings on AXA and AXA Financial Inc., …
Former Secretary of State Lawrence Eagleburger reportedly stormed out of a meeting with European insurers yesterday, and abruptly resigned his position as Chairman of the International Commission on Holocaust Era Insurance Claims (ICHEIC); however, after protracted discussions he was persuaded …
France’s AXA Group plans to expand the sales of its insurance products in Germany through the country’s Tchibo coffee chain in a move aimed at countering the sales efforts of its three biggest rivals in Germany, who’ve recently increased their …
The Bureau Enquêtes Accident (BEA), the investigation agency charged with examining the crash of the Air France supersonic Concorde near Paris in July 2000, has released its final report. It confirms that the plane struck a metal piece on the …
France’s SCOR announced that a late surge in claims that emerged at the end of the year has led to a downward revision of its earnings estimate for 2001. The company stated that, “In view of the combined impact of …
A.M. Best announced that it has downgraded the financial strength rating of France’s SCOR to A (Excellent) from A+ (Superior) and has removed the rating from under review. The new rating also applies to all of SCOR’s subsidiary companies, as …
