After months of rumors, speculation and maneuvering, Toro, the Italian insurance subsidiary of the Fiat industrial group, confirmed that it had made a formal bid for La Fondaria, another Italian insurer, which has been the target of acquisition efforts since …
As earlier reported (see IJ Website Dec. 27), CGNU is close to concluding a deal to sell its French commercial lines business, CGU Courtage, to French mutual insurer Groupama. The transaction highlights the restructuring going on in both companies. CGNU …
Standard & Poor’s announced that it has assigned its double-‘A’-minus insurer financial strength and counterparty credit ratings to newly created Dublin-based reinsurer Irish Reinsurance Partners Ltd. (IRP) with a negative outlook. The ratings reflect IRP’s status as a core entity …
A flurry of year end transactions is changing the face of the French insurance market. The MMA-MAAF Group has reportedly agreed to acquire the French units of Swiss based Winterthur Group. CGU Courtage, the commercial brokerage unit in France of …
Remarkably few events are timed precisely enough to shift the focus of an entire nation. In the last century only three come immediately to mind—August 1914, October 1929 and December 1941. While change is the only true constant in life, …
France’s AXA Group estimated that, after assessing the consequences of the WTC attacks, the impact of potential permanent impairments on assets and difficult market conditions, it expected cash earnings for 2001 to be approximately €1.2 billion ($1.08 billion), down from …
Remarkably few events are timed precisely enough to shift the focus of an entire nation. In the last century only three come immediately to mind—August 1914, October 1929 and December 1941. While change is the only true constant in life, …
The crash on Nov. 12 of American Airlines (AA) Flight 587, an Airbus A-300-600, with the loss of all 260 people on board and 5 on the ground, shocked New Yorkers and the rest of the nation. Coming almost two …
The sudden collapse of energy giant Enron will have global consequences for many banks and insurance companies who were involved in its energy trading and supply activities. Notably affected are insurers, who underwrote a large portion of the company’s debt …
The crash on Nov. 12 of American Airlines (AA) Flight 587, an Airbus A-300-600, with the loss of all 260 people on board and five on the ground shocked New Yorkers and the rest of the nation. Coming almost two …
