The Group of Eight major industrialized countries (G8) meeting next week in Japan cannot by themselves set effective long-term world goals on curbing greenhouse gas emissions, the White House said on Tuesday. “With evidence mounting of rapidly rising emissions from …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of the Texas-based Argonaut Insurance Group and its members. Best also affirmed the FSRs of ‘A’ (Excellent) and ICRs of …
France’s AXA Group announced that it has completed the acquisition of 36.7 percent of the share capital of RESO GARANTIA, Russia’s second largest P&C insurer. The transaction, which was announced on December 21, 2007, closed on June 17, 2008 (See …
Asian Insurers May Buy in U.S., E.U.; Bermuda Beefs Up Regulators; Zurich Favored for Acquisition Asian insurers may go on a buying spree. A number of companies, particularly China’s major players, are likely to seize the credit crunch as an …
New European Union rules that shake up how insurers offset risk and protect policyholders must not be rushed despite a 2012 deadline, a senior British regulator said on Tuesday. European Commission proposals known as Solvency II are before the European …
Ministers from major trading nations will try to keep struggling world talks alive today, June 5, with supporters saying a deal could help offset the global food crisis and soften the economic slowdown. Ministers from the United States, the European …
Bermuda-based PartnerRe has announced the following executive changes in its Global (Non-U.S.) Operations: — Emmanuel Clarke has been named as Head of Specialty Lines, Global, effective Sept. 1, 2008. — He succeeeds Kurt Angst, who will retire in December 2008 …
France’s AXA Group reported that it is “halfway to Ambition 2012, its company-wide project launched in 2004 which aims to make AXA the preferred company of its clients, employees and shareholders.” AXA explained that it is seeking to enhance its …
Zurich Financial Services Group announced that Markus Hongler, currently CEO of Zurich Switzerland, has been appointed CEO of Zurich Insurance Ireland Limited (ZIIL), Zurich’s main EU-wide risk carrier for general insurance. The appointment will become effective January 1, 2009, in …
Aon Re Global has named Jan-Oliver Thofern as the new CEO and Chairman of its German subsidiary, Aon Ruck, the largest reinsurance broker in the country. He was previously a member of the Company’s Executive Committee. Thofern succeeds former CEO …
