S&P lowered its ratings on Markel Corp. and related entities. In addition, the CreditWatch with negative implications which S&P placed on the companies was removed. The counterparty credit and financial strength ratings on Terra Nova (Bermuda) Insurance Co. Ltd. were …
Europe’s largest mutual life insurer, Edinburgh-based Standard Life, has set a date of June 27 for a special general meeting to vote on whether or not members want to demutalize the 175- year-old insurer. A group, led by Fred Woollard …
AGF, the French subsidiary of Germany’s Allianz, announced it was offering an innovative new product to give individuals the opportunity to buy a policy “Garantie des Accidents de la Vie.” The policy would cover all non-work related activities, and would …
Bermuda-based PartnerRe has reached an agreement with France’s SCOR Group to sell its U.S. life reinsurance business, PartnerRe Life Insurance Company of the U.S., and its subsidiaries Vanguard Life Insurance Co., Investors Insurance Corp. and Investors Marketing Group. The move …
Bermuda-based PartnerRe announced that it has reached an agreement with France’s SCOR Group to sell its U.S. life reinsurance business, PartnerRe Life Insurance Company of the U.S., and its subsidiaries Vanguard Life Insurance Co., Investors Insurance Corp. and Investors Marketing …
On March 9, the German financial world quaked with the announcement that Deutsche Bank (DB), Germany’s largest bank, planned to merge with cross-town rival Dresdner Bank. Insurance giant Allianz AG was a driving force behind the deal and stands to …
Germany’s Allianz AG acquired a controlling 80 percent interest in Cairo-based Arab International Insurance Company (AIIC) by purchasing the 40 percent share held by France’s AXA. In 1998, AIIC reported gross premium income of $10 million and more than $1 …
Lawrence Eagleburger, Chairman of the International Commission on Holocaust Era Insurance Claims (ICHEIC), announced the launch of a comprehensive international effort to resolve outstanding claims on insurance policies held by victims of the Holocaust. The ICHEIC was formed in 1998 …
Even though net income will be reduced by around 100 million Euros ($98 million) caused by the year-end storms which struck France, AXA S.A. announced a significant estimated earnings increase of 15 percent over 1998 figures. Total revenues were expected …
Confirming previous estimates, the Federation Francaise de Societes d’Assurance reported Monday that over 3 million damage claims had been filed as a result of the storms which hit France at the end of December. Resulting damages covered by insurance are …
