Standard & Poor’s announced several changes in ratings and outlook for insurers over the past week. Those concerning non-U.S. companies were as follows: SCOR Re: S & P took the company off the “credit watch” announced April 14. Despite disappointing …
After protracted negotiations, France Telecom (FT) and Vodafone AirTouch have agreed to terms for the French telecommunications giant to acquire Orange Plc., the U.K.’s third largest mobile phone provider. Vodafone, which is in the process of acquiring Germany’s Mannesmann AG, …
Holland’s ING Group announced earnings increases in both its banking and insurance sectors for the 1st quarter. Net pretax profit from combined operations rose 32 percent from €775 million ($697.5 million) to €1.023 billion ($920.7 million) as compared to the …
A strike by France’s armored car drivers has brought the cashless society a step closer to reality, albeit by default. Frenchmen depend heavily on the numerous ATMs which are located outside banks, post offices and shopping centers throughout the country, …
The string of catastrophes in 1999—the worst year on record for the frequency of natural disasters—has hit the reinsurance industry solidly. This was compounded by weak premium rates, and retrocession recovery problems following the financial difficulties of a number of …
International builder Kaufman & Broad’s French subsidiary has entered into agreements with Credit Agricole, France’s largest bank, and AGF, the French subsidiary of Allianz, to cooperate on lending and insurance services. Under the agreement K& B will recommend to home …
France’s AXA recorded growth in all sectors, life, p/c and financial services for the 1st quarter. Bolstered by extremely strong performances from its North American subsidiaries the company registered an overall gain of 32.6 percent. The earnings report gave the …
ACE Ltd. isn’t the only insurance company to see earnings increase in the 1st quarter. Despite some difficulties, notably the December storms in Europe, most earnings reports have been positive. It seems most of the industry is looking back on …
France’s AXA announced that it plans to increase its corporate capital by € 3.7 billion ($3.3 billion) in order to finance part of its purchase of the 43.7 percent minority interest in Sun Life & Provincial Holdings (SLPH), announced yesterday. …
Over a month of hard-nosed negotiations ended Monday night when France’s AXA agreed with the independent directors of its British affiliate Sun Life and Provincial Holdings to acquire the minority 43.74 percent it’s been seeking for 500 pence ($7.75) per …
