Swiss Re announced that its exposure to Enron related losses is $173 million before tax, around $118 million after tax. It also announced the release of its latest sigma study, “World financial centres: New horizons in insurance and banking”, which …
A California law requiring that insurance companies turn over information related to European insurance policies or face loss of their licenses has been ruled an unconstitutional violation of due process, according to the legal counsel for several insurers, including the …
While most Asian National Flag carriers have been able to obtain government assistance to meet new insurance demands for war and terrorist risk cover, smaller airlines are still seeking solutions, heightened by increased fears as a result of the opening …
What did you know, and when did you know it?” Those questions from the Watergate era are increasingly being asked of the U.K.’s Financial Services Authority, which oversees the country’s insurance industry, in the wake of the spectacular meltdown of …
Pennsylvania-based Harleysville Group Inc. and New York’s NYMAGIC, INC. indicated that they anticipated minimal exposure following last Tuesday’s terrorist attacks, while officials of Chubb and Fitch gave informal estimates. Walter R. Bateman, Harleysville CEO, indicated that a preliminary assessment of …
No sooner had the weary delegates to the current World Trade Organization meeting in Geneva taken a rest from thrashing out the final details of China’s admission to the world’s governing trade body, than they began the equally thorny task …
The New York City operations of the reinsurer St. Paul Re — based at 195 Broadway, one block from the World Trade Center, and evacuated in the events of Sept. 11 — are continuing from the company’s Morristown, N. J. …
Fox-Pitt, Kelton Inc., a unit of reinsurer Swiss Re, is expanding its San Francisco branch office to include a team of investment bankers that will focus on mergers and acquisitions and capital-raising for financial institutions in the western part of …
Tony McGrath, the provisional liquidator for failed Australian insurer HIH, indicated that creditors of the bankrupt company may get only about 50 cents on the dollar. New loss estimates have put HIH’s shortfall as high as $2.8 billion (See IJ …
What did you know, and when did you know it?” Those questions from the Watergate era are increasingly being asked of the U.K.’s Financial Services Authority, which oversees the country’s insurance industry, in the wake of the spectacular meltdown of …
