Both France’s AXA Group and Germany’s Allianz AG, the world’s two largest insurance groups, raised their original estimates of potential losses from the terrorist attacks of Sept. 11 in the U.S. (See IJ Website Sept. 14) AXA’s net pretax loss …
France’s AXA Group announced that its 1st half earnings had reached €1.222 billion ($1.11 billion) a 12.4 percent increase over comparable figures for the year 2000. The company noted that its buyout of the minority shares of AXA Financial in …
The day after the Sept. 11 terrorist attacks on the U.S, insurance stocks fell significantly in international trading. The DJ Stoxx insurance index reportedly fell to a three-year low at 8:27 a.m. EDT, following a 13 percent drop on Tuesday. …
No words will ever be able to fully convey the shock and the stunned incredulity around the world as yesterday’s terrorist attacks unfolded on television screens across the globe. Live coverage on French television began shortly after the first aircraft …
France’s SCOR Group posted an impressive 53 percent increase in gross written premiums for the 1st half of 2001 to €2.361 billion ($2.12 billion), while net pre-tax profit rose 5.8 percent to€ 99 million ($89.1 million). All three of SCOR’s …
Standard & Poor’s has affirmed its double-‘A’ counterparty credit and insurer financial strength ratings on the core operating companies of the CGNU Group, and removed Norwich Union Holdings from CreditWatch. The ratings, based on S&P’s analysis of changes that had …
From all accounts, the surplus lines market is alive and well in the United States despite an economy which continues to sputter in many sectors. Numbers from the Surplus Line Association (SLA) of California, Lloyd’s, and A.M. Best Co. show …
What did you know, and when did you know it?” Those questions from the Watergate era are increasingly being asked of the U.K.’s Financial Services Authority, which oversees the country’s insurance industry, in the wake of the spectacular meltdown of …
Lloyd’s of London yesterday confirmed previously published reports that it would have losses exceeding $3 billion for the years 1998-99 with a projected loss in 1999 of nearly $2 billion. 2000 figures are expected to show some improvement with losses …
Air France conducted a number of tests, including limited supersonic flight, of the refitted Concorde aircraft over the weekend in preparation for an application for the renewal of its airworthiness certificate, which could be made as soon as this week. …
