July 13, 2007
Financial services company Fortis NV said this week it will sell its 50 percent stake in its Spanish insurance business to joint venture partner la Caixa for euro980 million (US$1.35 billion) in cash. That comes after Fortis’ announcement a day …
June 26, 2007
Standard & Poor’s Ratings Services has assigned its ‘B’ senior secured debt rating to the $75 million class A, series 2007-I principal-at-risk variable-rate notes issued under the newly established shelf program, Nelson Re Ltd., sponsored by Glacier Reinsurance AG (Glacier …
June 22, 2007
It is hypocritical for developed countries to criticize China’s greenhouse gas emissions while simultaneously buying products from its booming manufacturing sector, Beijing said Thursday, defending its environmental record after a report said it had become the world’s top carbon dioxide …
June 18, 2007
It’s becoming a familiar song: the Federal Terrorism Risk Insurance Act (TRIA) is once again due to expire on Dec. 31, 2007, and as of this writing, no long- or short-term successor program has been decided upon or finalized. The …
June 18, 2007
Renewal of TRIA likely to go down to the wire, again It’s becoming a familiar song: the Federal Terrorism Risk Insurance Act (TRIA) is once again due to expire on Dec. 31, 2007, and as of this writing, no long- …
June 13, 2007
The ING Group has increased its participation in Formula-1 motor racing with the announcement that it will sponsor the Belgian Grand Prix, beginning with this year’s race at the legendary Spa-Francorchamps course on Sept. 16. “Henceforth the race will be …
June 12, 2007
Guy Carpenter & Company, the global risk and reinsurance specialist of the Marsh & McLennan Companies, has published a new study on the “Global Terror Insurance Market.” It contains information from “six continents and 34 countries,” said the announcement, and …
June 12, 2007
Standard & Poor’s Ratings Services has assigned its “B” senior secured debt rating to the $75 million class A, series 2007-I principal-at-risk variable-rate notes issued under the newly established shelf program, Nelson Re Ltd., sponsored by Glacier Reinsurance AG (Glacier …
June 5, 2007
A.M. Best Co. has affirmed the financial strength rating of “A+” (Superior) and the issuer credit rating of “aa” of France’s Caisse Centrale de Reassurance (CCR) with a stable outlook. “The ratings reflect CCR’s unique position as the main reinsurer …
June 4, 2007
France’s AXA Group announced today that it has entered into a memorandum of understanding with SNS Reaal, a Dutch financial-services company, leading to final discussions on the sale of its principal Dutch insurance operations for €1.75 billion ($2.35 billion). These …