The entire Italian Peninsula from Venice to Sicily was plunged into darkness early Saturday morning by a massive power failure that knocked out the national electrical grid, stranding travelers, creating chaos in the streets and largely bringing the country to …
The 102nd Insurance and Financial Services Conference of the U.K.’s Chartered Insurance Institute wound up proceedings in London last Friday on an upbeat note. President Andy Homer told delegates that the industry “needs leaders that will actually lead.” He also …
Nothing apparently concentrates the corporate mind so effectively as being named in a criminal complaint. A week after a federal grand jury in Los Angeles issued a sealed indictment which reportedly accused it, and numerous others involved, of criminal fraud, …
Nothing apparently concentrates the corporate mind so effectively as being named in a criminal complaint. A week after a federal grand jury in Los Angeles issued a sealed indictment which reportedly accused it, and numerous others involved, of criminal fraud, …
A.M. Best Co. announced that it has downgraded the financial strength rating to B++ (Very Good) from A- (Excellent) of France’s SCOR Group and its guaranteed subsidiaries. The company reacted quickly with an announcement that it regrets the decision “at …
Zurich Financial Services announced that it has agreed to sell its French life business, including its Eagle Star operations and parts of its non-life operations in the consumer and commercial segments, distributed by agents in France, to Italy’s Assicurazioni Generali …
France’s Credit Lyonnais (CL) and the Consortium de Réalisation (CDR), a French government agency established to handle the bank’s debt mountain in 1995, have agreed with federal prosecutors in Los Angeles to pay aprroximately $575 million in order to settle …
Germany’s Allianz confounded many analysts’ forecasts by reporting strong gains in most of its operations, posting a net profit of 102 million euros ($115.26 million) for the first half of 2003. The group’s total revenues rose 4.9 percent to 49.5 …
France’s SCOR Group reported 2.069 million euros ($2.34 billion) in gross written premiums for the first half of 2003, compared to 2.51 billion euros ($2.84 billion) for the same period in 2002, almost an 18 percent drop. The decrease is …
Despite a solid operating performance which saw a 6 percent rise in underlying earnings to 1.1 billion euros ($1.25 billion) France’s AXA Group posted a sharp decline in net earnings to 209 million euros ($237 million), compared to 837 million …
