The Supreme Court indicated this week it could prohibit foreign investors from using U.S. securities law and American courts to sue a foreign bank for fraud. The court heard argument in a challenge from Australian investors who want to sue …
Standard & Poor’s Rating Services has lowered its long-term counterparty credit ratings and insurer financial strength ratings on the core entities of France’s AXA group to ‘AA-‘ from ‘AA’. S&P also revised the counterparty credit rating on the holding company …
Relatives of passengers killed in an Air France crash off Brazil have filed nearly two dozen wrongful death lawsuits in Miami against Airbus, alleging that aircraft maker’s A330 crashed because of flaws in the plane and its U.S.-made components. Airbus, …
The devastating effects of Hurricane Ivan in the summer of 2004, when it crossed the Caribbean Sea causing major damage in Grenada, Jamaica and the Cayman Islands, produced one good thing. The Caribbean Community and Common Market (CARICOM) heads of …
French reinsurer SCOR Group announced that based on preliminary estimates, it expects its related costs from the earthquake in Chile and Windstorm Xynthia to be approximately €95 million ($130 million) net pre-tax, which “represents approximately 3 percent of the projected …
France’s AXA Group announced that it will file a Form 25 with the U.S. Securities and Exchange Commission to voluntarily delist its American Depositary Shares (ADS) from theNew York Stock Exchange. AXA said the “last trading day of the ADS …
Swiss Re’s annual sigma study has calculated that “natural catastrophes cost insurers $22 billion in 2009, while man-made disasters cost an additional $4 billion. Insured losses were highest in North America, where they cost insurers over $12.7 billion. “The death …
Swiss Re released its preliminary estimates for losses from the magnitude 8.8 earthquake that hit Chile on February 27 – $500 million – and from European windstorm Xynthia – $100 million. Both estimates are “net of the benefits of retrocession.” …
Bermuda-based PartnerRe Ltd has issued preliminary estimates of expected claims from the earthquake in Chile and European Windstorm Xynthia. Total insured industry losses from the M8.8 earthquake in Chile, which hit on February 27, 2010, “will be in the range …
