The latest in Swiss Re’s authoritative sigma studies examines the profitability of the non-life insurance market in the G7* countries and concludes that the industry needs to concentrate on improving underwriting results by getting “back-to-basics.” The study also focuses on …
XL Capital Ltd reaffirmed its previously announced plan to acquire a 67 percent controlling interest in France’s Le Mans Re from its partner Les Mutuelles du Mans Assurances Group (MMA), and announced that the two would increase its share capital …
Bermuda’s PartnerRe, which already announced estimated net losses from the Sept.11 attacks of around $400 million, announced additional losses of around $25 million, and said it would report a third quarter operating loss of between $6.65 and $6.75 per share. …
According to a report from China’s official Xinhua News Agency, monitored by the BBC, eight insurance companies have received approvals from the Chinese government to begin operations, and/or to expand current operations. The report lists subsidiaries of Germany’s Gerling, Allianza …
Bermuda’s XL Capital Ltd. announced that it was posting a net loss for the 3rd quarter ended Sept. 30 of $840 million, or a loss of $6.57 per share, compared with net income of $139.5 million, or income of $1.10 …
The St. Paul Companies announced a 2001 third-quarter after-tax operating loss from continuing operations of $545 million, or $2.62 per share. In the year earlier period, the company reported after-tax operating earnings from continuing operations of $157.5 million, or $0.67 …
American International Group and the European insurance consortium Eureko Alliance have agreed to form a cooperative venture to market and service multinational employee benefits programs worldwide. They plan to establish a joint office in Zurich, Switzerland, and will establish joint …
More than a year after the crash near Paris which killed 113 people, Concorde, the world’s only supersonic passenger jet, is set to resume its transatlantic service on November 7. British Airways and Air France announced that the first flights …
France’s AXA and Britain’s Royal & Sun Alliance both announced that there would be large increases in their premium rates on commercial property coverage in the aftermath of the terrorist attacks on the U.S. AXA’s Corporate Solutions Division indicated that …
France’s AXA abruptly announced that it was terminating its insurance coverage of the 2002 Soccer World Cup, scheduled to be held in Japan and Korea next May and June, following the terrorist attacks of September 11 in the U.S. The …
