Extreme Weather Hits Europe: Devastating wild fires in Portugal; torrential rains in Switzerland, Austria, Germany and Romania; drought in much of France. There seems to be no end to the list of extreme weather conditions that have hit Europe in …
Risk Management Solutions announced that the economic loss from Hurricane Katrina and subsequent flooding in New Orleans is expected to exceed $100 billion. Losses are resulting from two separate catastrophic events: first, the landfall of Hurricane Katrina in southeast Louisiana …
Standard & Poor’s Ratings Services announced that it has raised its long-term counterparty credit ratings on Netherlands-incorporated ING Bank N.V. and fellow core banks ING Belgium SA/NV and ING Bank (Australia) Ltd. to “AA” from “AA-.” S&P also affirmed its …
Devastating fires in Portugal; torrential rains in Switzerland, Austria and Romania; drought in much of France – the list of extreme weather conditions continues to grow in Europe. No contrast is more vivid than scenes of uncontrolled forest fires raging …
The Netherlands-based Eureko Group joined the parade of insurance companies that have enjoyed a good first half. The company announced a 39 percent increase in net income during the period to 338 million euros ($415 million) compared to 243 million …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) and the issuer credit rating (ICR) of “aa-” of the core companies of the U.K.-based AVIVA Group. Best also affirmed the “a” ICR of the …
AEGON-CNOOC Life Insurance Company Ltd., the 50/50 joint venture of AEGON with China National Offshore Oil Corporation (CNOOC), has signed national cooperation agreements with two leading banks in the People’s Republic of China: the Industrial and Commercial Bank of China …
Days after the U.S. Treasury issued its report downplaying the need for renewal of a federal terrorism risk reinsurance program, an organization of 30 democratic countries including the U.S. has warned of shortfalls in terrorism coverage around the world. Nearly …
EU Leaders Fiddle While Europe Burns: The crisis in the European Union, provoked when French and Dutch voters rejected the EU Constitution, is being largely ignored by Europe’s leaders. Instead of a bit of soul-searching and reassessment, they’ve chosen to …
Commerce Insurance Services, a wholly-owned subsidiary of Commerce Bancorp, Inc., has entered into an agreement to acquire BK International Insurance Brokers, Ltd., headquartered in Greenwich, Connecticut. The acquisition will complement Commerce Bank’s expansion into Connecticut, where it will open its …
