The insurance industry has become a participant in a new and unusual initiative sponsored by the United Nations World Food Program, which aims to have funds available to meet the needs of disaster victims as soon as they occur. AXA …
The Liberty Mutual Group announced form its Boston headquarters that its Portuguese subsidiary, Liberty Seguros Portugal, has signed a memorandum of understanding with insurer Acoreana to form a strategic alliance in the Portuguese insurance business. Liberty said that once the …
The Generali Group announced impressive preliminary results for 2005 and an ambitious growth plan at a general meeting yesterday, March 6, in Milan. 2005 profits rose 15 percent to €1.918 billion ($2.3 billion). The Group also announced a series of …
France’s SCOR Group noted a 25 percent rise in worldwide premium income follwing the January renewal season. Non- life and credit & surety treaties totaled €1.041 billion ($1.256 billion). The reinsurer said it “is benefiting from recent developments in the …
France’s AXA Group announced big earnings increases for the year 2005 with net profits up 12 percent to €4.173 billion ($4.98 billion). “Last year, AXA showed strong growth momentum, particularly in Life & Savings and Asset Management,” commented CEO Henri …
Swiss Re’s latest sigma report examines the natural catastrophes and man-made disasters of 2005. Among other findings it notes that “more than 97 000 people lost their lives” as a result of one of the “almost 400 catastrophes, which caused …
The French international business-to-business trade facilitator and insurer, Compagnie Francaise d’Assurance pour le Commerce Exterieur SA (Coface), announced that it’s consolidated revenues for 2005 increased by 7.7 percent to1.218 billion ($1.443 billion). Net profits increased by 37 percent to €117 …
Paris will host representatives from more than 50 countries for a two-day forum that will seek ways to cope with the increasing spread of the deadly avian flu virus H5N1. As wild birds continue their seasonal migrations, they have come …
Portugal’s Espirito Santo Financial Group S.A. (ESFG) and France’s Credit Agricole S.A. (CASA) announced that they have agreed that CASA will acquire 50 percent of the capital and have management control of the life and non-life bancassurance subsidiaries of ESFG …
Although Western Europe has been preparing for its arrival for some time, the news that wild birds, infected with the deadly H5N1 virus, have been found in Germany and France still comes as a shock. On a visit to the …
