ING Canada and Allianz Group have closed their previously announced definitive share purchase agreement for the acquisition by ING Canada of Allianz’ Canadian P/C operations. “Under the terms of the agreement, ING is acquiring Allianz of Canada Inc. and its …
According to a recent e-mail survey, conducted by the Federation of European Risk Management Associations (FERMA), risk managers and their associations have long questioned how brokers are compensated. FERMA queried the members of its Forum 2005 committee to find out …
Standard & Poor’s Ratings Services has affirmed its ‘A’ counterparty credit and financial strength ratings on Liberty Mutual Insurance Co. and related entities (see ratings list). At the same time, Standard & Poor’s affirmed its ‘BBB’ counterparty credit rating on …
The Netherlands ING Group reported a significant rise in nearly all business sectors. Operating profits at the banking, insurance and financial services giant rose by 33.1 percent to 4.008 billion euros ($5.2 billion). Other highlights recorded during the period include …
Aon Re International announced that it has licensed the Pivot Point insurance transaction system from CATEX Inc. It described Pivot Point as “a web-based system handling the full reinsurance process from business production and quoting through to IBA ledger.” It …
A.M. Best Co. announced that it has assigned a financial strength rating of “A+” (Superior) and an issuer credit rating of “aa-” to the core companies of the U.K.’s Aviva Group. Best also assigned an issuer credit rating of “a” …
The Netherlands’ ING Group and Germany’s Allianz announced that they have concluded a definitive share purchase agreement for the acquisition of Allianz’ property and casualty (P&C) insurance operations in Canada, except for its Canadian industrial lines business, which is part …
Research amongst European and U.S. Risk Managers concludes that within the next five years over half will be using alternative risk financing as a key part of their risk programs, according to ACE European Group. “This apparent trend has emerged …
Ambassador Paul Bremer, who headed up the provisional government in Iraq, and Mikhail Gorbachev, the former Soviet leader whose policies are credited with ending the Cold War, will be the keynote speakers at the 91st annual Insurance Leadership Forum at …
Moody’s Corporation announced that Ewald Kist, who retired as the head of Holland’s ING Group in June, has been elected to the Board of Directors effective immediately. Kist, 60, had headed ING since June 2000. He served as Vice Chairman …
