The tragedy in Haiti is a reminder of how fragile life can be in developing countries.Despite the massive loss of life and widespread destruction in and around the capital Port-au-Prince, vital rescue efforts have been hampered by a lack of …
Torus announced that it is in the process of establishing a London-based property tem to serve the UK. David Ring joins the Company to lead the new operations as UK Head of General Property. He is responsible for managing and …
Zurich Financial Services Group has announced the transfer of the “vast majority of its general insurance portfolios in Italy, Portugal and Spain to local branches of its EU-based risk carrier Zurich Insurance plc, Ireland, (ZIP) effective January 1, 2010.” Zurich …
Standard & Poor’s Ratings Services said today that it has revised its outlook on the core operating entities of French credit insurance group Coface to negative from stable. The core entities are: — France-based Coface S.A., — Germany-based Coface Kreditversicherung …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit rating of “a” of Italy’s Societa Cattolica di Assicurazione – Societa Cooperativa. Both ratings gave negative outlooks. Best said the ratings reflect its “expectation …
Europe’s insurance sector has “fared well relative to banks over the past two years,” a new report from Standard & Poor’s Ratings Services notes. As an example, the study – “European Insurers Withstand Global Economic Conditions, But Resilience Will Likely …
A.M. Best Co. has withdrawn the financial strength rating (FSR) of ‘B++’ (Good) and issuer credit rating (ICR) of “bbb” of German insurer Wuerttembergische und Badische Versicherungs-AG (WUEBA) and assigned an NR-5 (Not Formally Followed) to the FSR and an …
New research, conducted by Marsh, has found that senior executives in Europe’s leading organizations are most concerned about customer-related risks and access to credit, as they plan their recovery from the global economic downturn. Marsh said the nearly two-thirds of …
Two former auditors of Parmalat SpA agreed to pay $15 million to settle a class-action lawsuit by U.S. equity investors over their roles in the Italian dairy company’s 2003 collapse. Deloitte Touche Tohmatsu will pay $8.5 million and Grant Thornton …
A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and the issuer credit rating of “aa-” of Italy’s Assicurazioni Generali S.p.A., both with stable outlooks. Best also affirmed the ratings of debt instruments issued or guaranteed by …
