The Netherlands’ ING Group announced that it has signed an exclusive global contract with NetEconomy, a leader in real-time enterprise risk monitoring solutions for the finance industry, to roll-out a worldwide effort to combat money laundering and ensure compliance. “The …
Espirito Santo Financial Group S.A. (ESFG), a holding company operating in Portugal and Luxembourg, announced the non-audited results of its insurance subsidiaries in Portugal (Tranquilidade Group), Companhia de Seguros Tranquilidade, (“Tranquilidade”) (non-life), Companhia de Seguros Tranquilidade Vida (“Tranquilidade Vida”) (life) …
May first marked the most important expansion of the European Union in its 50 year history, as 10 countries joined the 15 existing members to create an economic block of 455 million people stretching from the Western shores of Ireland …
A.M. Best Co. announced that it has affirmed the financial strength rating of “B++” (Very Good) of Electro Re S.A. (Luxembourg) with a stable outlook. “The rating reflects the reduction in Alcatel’s sales and required insurance premium volume on Electro …
Standard & Poor’s Ratings Services announced that it has assigned its “A” long-term counterparty credit and insurer financial strength ratings to Ireland-based reinsurer Atradius Reinsurance Ltd. (Atradius Re; formerly NCM Reinsurance Ltd.), “a core entity of the Atradius group.” The …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) of Luxembourg-based West of England Ship Owners Mutual Insurance Association (the Club or WOE), with a stable outlook. “The rating reflects the Club’s excellent capitalisation, …
General Re Corporation announces it has purchased AXA Konzern AG’s 49.9 percent shareholding in a Luxembourg-based joint venture company which owns 12,324,090 shares, or about 58.9 percent, of Kolnische Ruckversicherungs-Gesellschaft AG (“Cologne Re”) and approximately EUR 560 million in investments. …
A.M. Best Co. has placed the financial strength ratings of A+ (Superior) of Hannover Rueckversicherungs-AG (Hannover Re) and its core subsidiaries under review with negative implications. (See list below.) At the same time, the “a” rating on the USD 400 …
“I was misinformed.” That line from “Casablanca” was apparently echoed last week with the announcement that Allianz and its five partners had decided to shut down their Luxembourg-based terrorist risk insurance operation, Specialist Risk Insurance and Reinsurance Luxembourg S.A. (SRIR), …
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 …
