A recent study released by Swiss Re, confirms that insured catastrophe losses for 2000 totaled $10.6 billion, falling significantly below those in 1999, which reached $32.9 billion.The survey also concluded that p/c reinsurance rates were on the rise, but warned …
International rating agency Standard & Poor’s announced that had affirmed “it’s double-‘A’ long-term counterparty credit and financial strength ratings and its double-‘A’-minus senior unsecured ratings on Italian-based insurer Assicurazioni Generali SpA (Generali).” It also affirmed double-‘A’ ratings on its financial …
As expected, CGNU, the U.K.’s largest insurer, announced a drop in operating profits for the year 2000 to £1.02 billion ($1.48 billion) between £200 and £400 million ($290 and $580 million) less than analysts had forecast. The first combined results …
XL Capital Ltd has agreed to purchase Winterthur International from Winterthur Insurance, a subsidiary of the Credit Suisse Group. The all-cash transaction is valued at approximately $600 million and will be funded by XL out of current resources. Winterthur International …
Swiss Re published the following preliminary estimates of the losses caused by natural and man-made catastrophes in the year 2000: 17,000 lives were lost, direct losses were around $38 billion, and $11 billion in insured losses. The estimates, which will …
The world’s two largest reinsurers, Munich Re and Swiss Re, whose combined premiums total over $25 billion, have teamed up with Internet Capital Group, a leading B2B provider, and Andersen Consulting to launch “inreon,” an on-line platform for standard reinsurance …
Swiss Re announced that it has completed the acquisition of the remaining 65 percent interest it didn’t already hold in Società Italiana Cauzioni (SIC), a Rome based bond and credit insurer, which employs 163 people in 88 agencies throughout Italy. …
St. John’s University and The College of Insurance have signed a definitive merger agreement, making TCI a school of St. John’s Peter J. Tobin College of Business. The combination creates a more powerful business education program for students of both …
Local authorities believe at least 155 people, mostly young skiers, perished in a disastrous fire on Saturday in an Alpine tunnel in the Austrian Ski resort of Kaprun, near Salzburg. Flames from an unknown cause broke out when the train …
Deborah Senn, Insurance Commissioner of Washington State, announced that she will hold a public hearing on Nov. 20 to assess the progress that European insurance companies are making in the international effort to compensate Holocaust victims and their heirs. Allianz …
