If anyone still harbored any doubts that the U.S. Attorney’s case against Credit Lyonnais (CL) and others involved in the takeover of Executive Life Insurance Corp. (ELIC) is highly politicized, they were dispelled on Friday. U.S. Attorney General John Ashcroft …
The world’s largest reinsurer intends to make sure it stays there. On Friday Munich Re unveiled plans to raise 3.8 billion euros ($4.42 billion) through a rights offering. The new shares constitute the biggest single increase in Munich Re’s capital …
Despite the strong statements from Congressman Doug Ose (See related article in today’s West section), the French government has rejected the settlement agreement in the Executive Life case against Credit Lyonnais (CL) and others, concluded with the U.S. attorney’s office …
A.M. Best Co. announced that it has affirmed the financial strength rating of A- (Excellent) of France’s Mutuelle Centrale de Reassurance (MCR), but has maintained its “negative” outlook. “The rating reflects MCR’s excellent risk-adjusted capitalisation and good niche reinsuring mutual …
The second bi-annual conference of the Federation of European Risk Management Associations, which wrapped up proceedings on Wednesday in Rome, featured presenters and workshops that highlighted both the similarities and the differences in the U.S. and the European approach to …
A.M. Best Co. announced that it has affirmed the financial strength rating of A+ (Superior) of French mutual insurer Groupama and its subsidiaries, but has revised its outlook to “negative” from “stable.” “The rating action reflects Groupama’s leading business position …
France’s ministry of Justice has rejected a request from the U.S. Attorney’s Office in L.A. to extradite four French businessmen, who have been charged with participating in Credit Lyonnais’ (CL) takeover of Executive Life. The criminal fraud case against the …
The industry “needs leaders that will actually lead,” said outgoing president Andy Homer as he closed the 102nd Insurance and Financial Services Conference of the U.K.’s Chartered Insurance Institute (CII) on Sept. 19. He also admonished the assembled leaders of …
AXIS Capital Holdings Limited announced the addition of senior underwriting professionals to AXIS Re Europe, its newly formed underwriting branch in Zurich. Stephan Knipper has been appointed executive vice president Underwriting, with responsibility for the Liability and Credit & Bond …
The industry “needs leaders that will actually lead,” said outgoing president Andy Homer as he closed the 102nd Insurance and Financial Services Conference of the U.K.’s Chartered Insurance Institute (CII) on Sept. 19. He also admonished the assembled leaders of …
