Standard & Poor’s Ratings Services has assigned its ‘A-‘ long-term counterparty credit and insurer financial strength ratings to PARIS RE (France) and PARIS RE Switzerland Ltd. At the same time, S&P lowered to ‘A-‘ from ‘AA-‘ its long-term insurer financial …
Standard & Poor’s Ratings Services has assigned preliminary credit ratings to the €411.6 million ($551 million) asset-backed floating-rate notes to be issued by a French “fonds commun de créances (FCC), FCC SPARC Europe (Senior).” The transaction involves the securitization of …
Swiss-based reinsurer Converium announced that its current Chief Risk Officer, Markus Krall, will leave the company, effective June 30, for personal reasons. Converium said it has not yet found his replacement, but is “looking to fill the position internally.” CEO …
France’s AXA Group has launched its second securitization of motor insurance risks based on individual motor policies underwritten by its German, Belgian, Italian and Spanish operations. AXA launched its first motor securitization for its French exposures in 2005 (See IJ …
A.M. Best Co. has affirmed the financial strength rating of “A+” (Superior) and the issuer credit rating of “aa” of France’s Caisse Centrale de Reassurance (CCR) with a stable outlook. “The ratings reflect CCR’s unique position as the main reinsurer …
France’s AXA Group announced today that it has entered into a memorandum of understanding with SNS Reaal, a Dutch financial-services company, leading to final discussions on the sale of its principal Dutch insurance operations for €1.75 billion ($2.35 billion). These …
Australia’s QBE Insurance Group Limited became a major player in the U.S. market with the closing of its acquisitions of Praetorian Financial Group and Winterthur US. All of the parties involved – France’s AXA Group; Germany’s Hannover Re and QBE …
I think it is important to take a moment to talk about the importance of the Terrorism Risk Insurance Act and why I believe we must act again to establish a more permanent federal initiative to provide coverage from potential …
I think it is important to take a moment to talk about the importance of the Terrorism Risk Insurance Act and why I believe we must act again to establish a more permanent federal initiative to provide coverage from potential …
Climate protection is a top priority for German Chancellor Angela Merkel at next week’s G-8 summit, but she said in an interview released Sunday she was skeptical that the world’s industrial leaders would agree on a concrete proposal for emissions …
