Bermuda’s PartnerRe Ltd. announced that claims relating to its exposure to Windstorm Kyrill, which hit Europe last week, are expected to be between $50 and $65 million. “Windstorm Kyrill battered the U.K., France, the Netherlands, Germany and several other Northern …
Catastrophe risk modeler AIR Worldwide has issued a bulletin estimating insured losses from Winter Storm Kyrill (or Cyril) at between €4 billion and €8 billion ($5.18 billion and $10.37 billion). The GDV German insurance industry association estimated that country’s insured …
The mild winter weather that much of Europe has been enjoying for the last month came to a sudden halt earlier this week when the most violent storm to hit the continent since 1999 swept in from the Atlantic. So …
Germany’s Allianz SE, Europe’s largest insurer in terms of gross premiums written, is set to get even bigger. The Munich-based Company announced plans to acquire the remaining 42.4 percent of the shares in French insurer AGF that it does not …
Accenture has signed a 10-year, $100 million business processing outsourcing (BPO) agreement with AIG Europe S.A. The Agreement provides for Accenture to set up an IT platform and insurance support services to AIG Entrepreneur, an AIG unit specializing in P/C …
Standard & Poor’s Ratings Services indicated that Germany’s Allianz (AZSE) plans to buy out the minority shareholders in Assurances Generales de France (AGF – rated ‘A’/Positive/ ‘A-1’) and in Allianz Leben (rated ‘AA-‘/Positive/–) are “not expected to have an immediate …
Zurich Financial Services Group announced that its subsidiary, Zurich Insurance Ireland Limited (ZIIL), which functions as an EU-wide risk carrier for Zurich’s general insurance business, has opened branches in Belgium and Italy. ZIIL now operates in Belgium, Finland, France, Italy, …
Standard & Poor’s Ratings Services has stated that its rating and outlook on French reinsurer AXA Re (currently “AA-“/Stable) “are unaffected by the completion of the sale of AXA Re’s business to newly formed, and as yet unrated, Bermuda-based PARIS …
Following the successful launch of their joint venture life insurance operations, France’s AXA Group and India’s Bharti Enterprises have signed a preliminary agreement to establish a joint Indian P/C insurer. Bharti will have a 74 percent stake, with AXA holding …
A.M. Best Co. has placed the issuer credit rating (ICR) of “bbb+” of Australia’s QBE Insurance Group Limited under review with negative implications. Best also placed all of QBE’s subsidiaries financial strength ratings (FSR), ICRs and debt ratings under review …
