French insurance giant AXA SA said Thursday that improving sales in its life insurance and asset management businesses helped lift 2006 profit 18 percent. Beating analysts’ predictions, AXA’s net income rose to 5.09 billion euros ($6.69 billion) last year from …
In separate bulletins A.M. Best Co. stated its position on the ratings of France’s SCOR Group and Converium AG following the announcement that SCOR was seeking to take over the Swiss-based reinsurer (See IJ web site Feb. 19). Best said …
A.M. Best has published a comment on the recently published figures from a number of global reinsurers following the January treaty renewals, mainly focusing on Europe. Best said most “global reinsurers are anticipating strong 2006 earnings, thanks to a benign …
France’s SCOR Group announced that it has acquired 32.9 percent of the share capital of Swiss-based reinsurer Converium Holding AG. SCOR said it “strongly believes that the combination of Converium and SCOR is a unique strategic opportunity to create a …
Aon Re Global announced several management changes in its newly formed Europe-Middle East-Africa (EMEA) region and in the UK. Aon Re Global’s European operations have been combined with those in Israel, Bahrain and South Africa to form Aon Re Global-EMEA. …
France’s AXA Group joined the growing parade of big insurance companies who had a banner year in 2006. The financial services and insurance giant posted gains in all of its principal activities. Life & Savings entities recorded strong growth with …
Swiss-based reinsurer Converium has estimated that its gross claims for winter storm Kyrill will be around €25 to €35 million ($32.5 to $46.5 million). Converium said its estimates were “based on an assumed industry loss of roughly €5-7 billion [$6.5-$9.1 …
Warning that “European businesses face uninsurable environmental impairment risks,” the Federation of European Risk Management Associations (FERMA) called on insurers to be less “risk averse.” It urged members to “develop products that will allow businesses to protect themselves against new …
The insurance industry needs to improve its customer retention strategies, because a satisfied customer isn’t always a loyal one, according to the World Insurance Report, an international study of more than 10,000 insurance customers, insurers and distributors. The study, released …
Report: Customer satisfaction doesn’t guarantee loyalty The insurance industry needs to improve its customer retention strategies, because a satisfied customer isn’t always a loyal one, according to the World Insurance Report, an international study of more than 10,000 insurance customers, …
