The Hartford expects to move from the No. 5 to the No. 3 spot nationally in individual life insurance with a $1.12 billion acquisition of Fortis Financial Group’s life, annuity and mutual fund business. According to Sue Honeyman, a Hartford …
The Hartford Financial Services Group has announced that it will acquire the individual life insurance, annuity and mutual fund businesses of Dutch-Belgian bank-insurance giant Fortis Inc. for $1.12 billion in cash. Operating as Fortis Financial Group, the acquisition will add …
CGNU, the U.K.’s largest insurer, reported reported that new global sales in the year 2000 increased 24 percent to £13.5 billion ($19.98 billion), following strong growth in the life, pension and investment funds. The results surprised analysts, who had seen …
Zurich Financial Services announced that it has acquired a 10 percent stake in China’s fourth largest life insurance company, New China Life, for $ 39 million. Zurich is part of a group of investors which includes the World Bank International …
Standard & Poor’s assigned its “‘double-A plus long- term counterparty credit and insurer financial strength ratings to ING Re(Netherlands) N.V.,” reflecting its core position within the ING Group. “Ratings on the core insurance entities of the ING insurance group are …
The Hartford has completed the previously announced sale of its Dutch subsidiary Zwolsche Algemeene to AGF, the French arm of Germany’s Allianz, for €599 million ($551 million). Zwolsche wrote €383 million ($352 million )in gross premiums in 1999, and 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 …
As representatives from 150 governments gather in the Dutch capital, The Hague, to examine and discuss the state of the world’s weather, insurers are already taking note of the increasing instability in the global climate. The conference will review progress …
The FSR on Peerless Insurance Co. and related pool members was raised from “BBpi” to “BBBpi” by S&P. In addition to Peerless, the rating action applies to Indiana Insurance Co., Consolidated Insurance Co., Excelsior Insurance Co., The Netherlands Insurance Co. …
The Department of Health’s Genetics and Insurance Committee (GAIC) has granted U.K. insurers permission to consider the results of genetic testing for Huntington’s Disease (also known as Huntington’s Chorea), a rare and usually fatal condition, that is genetically transmitted. The …
