Asbestos, the weak equity markets and Sept. 11 have indirectly claimed another victim. Gerling-Konzern Globale Ruckversicherungs—AG (GKG), the reinsurance arm of Germany’s Gerling Group, announced at the end of October that it has given up on the survival of its …
In a bulletin released today France’s Scor SA, the world’s 7th largest reinsurer, announced that it expects to post a 400 million Euro ($404 million) loss for the full year, following a net loss of 425 million ($429.5 million) for …
France’s AXA earned total revenues of Euro 56.911 billion in the first nine months of the year, compared to Euro 55.539 billion in the same period last year, a 2.5 percent increase. Factoring in exchange rate movements and accounting changes …
More than a year after Sept. 11, the U.S., the European Union (EU) and many other countries are still working on ways to provide adequate insurance coverage for their air carriers. While several plans have been suggested, none are actually …
More than a year after Sept. 11, the U.S., the European Union (EU) and many other countries are still working on ways to provide adequate insurance coverage for their air carriers. While several plans have been suggested, none are actually …
Uneasy lies the head that wears a crown.” King Henry’s 15th century lament over his lack of sleep may well be shared these days by a number of 21st century CEOs, as investors call for their heads in the wake …
Eighty-four years ago at the 11th minute of the 11th hour of the 11th day of the 11th month the guns fell silent across Europe for the first time in over four years. The Great War had ended. Most countries, …
Standard & Poor’s Ratings Services announced that it has lowered its long-term counterparty credit and insurer financial strength ratings on U.K.-based CNA Reinsurance Co. Ltd. to single-‘B’-plus from triple-‘B’-minus, removed them from CreditWatch, and has withdrawn the ratings at the …
In a sudden, but not totally unexpected, move France’s SCOR Group announced that Denis Kessler would replace Jacques Blondeau as Chairman and CEO. The change follows a profit warning that SCOR expects a 250 million Euro ($246 million) loss for …
France’s SCOR Group, which recently warned that it expected to post a net loss of around 250 million Euros ($247 million) for 2002 (See IJ Website Oct. 30), responded to the actions of the various rating agencies with a statement …
