A.M. Best Co. announced that it has upgraded the financial strength rating to “A+” (Superior) from “A” (Excellent) of France’s Caisse Centrale de Reassurance (CCR), and has revised its outlook to stable from positive. “This action reflects A.M. Best’s forecast …
Shareholders of the MONY Group have voted to approve the sale to France’s AXA Group for $1.5 billion. Under the terms of the deal, AXA Financial, AXA’s U.S. financial services unit, will acquire 100 percent of MONY. The transaction remains …
In a classic “good news/bad news” situation, France’s AXA Group reported first quarter consolidated revenues of 20 billion euros ($24.1 billion), adjusted for currency fluctuations. The figure indicates a 2.3 percent overall increase. But, on a reported basis this turns …
A newly issued report from Standard & Poor’s concludes that “France’s mutual insurance sector remains healthy, but its long-term prosperity is being threatened by external competition and exposure risks.” S&P noted that the “growing penetration of France’s mutual retail banks …
May first marked the most important expansion of the European Union in its 50 year history, as 10 countries joined the 15 existing members to create an economic block of 455 million people stretching from the Western shores of Ireland …
France’s SCOR Group announced the official licensing of its Korean operations this month, and indicated it was very pleased with the rates of renewal of its Korean business. The company noted that “the treaty renewals of the SCOR Group at …
SCOR has appointed Marcel Kahn as group chief financial officer. Kahn spent several years as an external auditor and chartered accountant before joining the AXA group in 1988 as group controller. From 1991 to 2001, he was successively chief financial …
March 11, 2004 now joins Sept. 11, 2001 as dates no one now living will ever forget. The sheer horror of watching the aftermath of 10 separate explosions on the Spanish rail network in Madrid brought home the brutal ferocity …
France’s SCOR Group posted a net loss of 314 million euros ($384 million) for 2003, a distinct improvement over the 455 million euros ($556 million) loss the group reported in 2002. In addition the company reported net income of 45 …
The first thing we do, let’s kill all the lawyers.” Shakespeare’s 400-year old barb aimed at the legal profession (Henry VI, part 2) is an early, if somewhat drastic, call for tort reform. It certainly wasn’t the first exasperated cry …
