According to a report from Dow Jones Newswires a Brussels judge has placed AGF Belgium and the chairman of its management committee, Louis de Montferrand, under investigation as part of a five-year probe into an alleged 56 million Euro [$60.5 …
Neither the insurance industry nor the stock market was prepared for the announcement made by American International Group recently, that it would “incur a net, after tax charge of $1.8 billion in the fourth quarter of 2002 related to an …
Neither the insurance industry nor the stock market was prepared for the announcement made by American International Group on Feb. 3, that it would “incur a net, after tax charge of $1.8 billion in the fourth quarter of 2002 related …
Standard & Poor’s Ratings Services announced that it has lowered all insurer financial strength and counterparty credit ratings on the core operating companies of France’s AXA group to ‘AA-‘ from ‘AA’ “reflecting an expected reduction in the group’s 2002 operating …
France’s AXA Group released earnings results showing that its total gross revenues in 2002 reached 74.728 billion Euros ($80.7 billion), approximately the same figure it reported for 2001. The company said, however, that “on a comparable basis (adjusted for scope …
Moody’s Investors Service announced that it has changed its outlook to negative from stable on the A1 senior debt and A2 subordinated and junior subordinated debt ratings of France’s AXA group. Moody’s said the outlook change “reflected the group’s diminished …
Risk Management Solutions (RMS), a provider of products and services for managing natural hazard risks, has expanded the weather databases in its ClimetrixTM weather derivatives trading and risk management system to include new temperature data for France, Sweden, Norway, and …
Denis Kessler, who recently took over as the head of France’s SCOR Group, revealed additional measures to implement his “Back on track Plan” for the company at yesterday’s Board of Directors meeting. Among the measures approved by the Board were …
France’s AXA Group announced that its Supervisory Board had reappointed all five members of the company’s Management Board at a recent meeting, and had reconfirmed Henri deCastries as Board Chairman. Reappointed for a three year term were: Henri deCastries Françoise …
Yesterday’s announcement by France’s AXA Group that it would significantly curtail reinsurance operations in the U.S. (See IJ Website Jan.13) – ceasing both its financial guaranty reinsurance activities and its life and non-life reinsurance through U.S. subsidiaries – produced an …
