The Hartford Financial Services Group Inc has entered into exclusive negotiations with Assurances Generales de France to sell its Zwolsche Algemeene subsidiary in the Netherlands. Zwolsche, which had 1999 revenues of $375 million and net income of $37 million, is …
The “Bpi” financial strength rating on Corpa Reinsurance Company was affirmed by S&P. The company wrote property and casualty treaty reinsurance on fire and commercial multiple lines peril. However, effective, Sept. 1, 1987, it ceased writing new and renewal business. …
AEGON has completed the sale of its banking subsidiary Labouchere to Dexia. Dexia paid AEGON approximately $800 million for Labouchere. AEGON will use the proceeds from the sale to redeem outstanding debt, while the book profit of approximately $550 million …
China is considering allowing Aegon’s Transamerica unit life insurance to operate in China according to a statement made by Aegon CEO Kees Storm. According to a Reuters report, Storm said Chinese Prime Minister Zhu Rongji is considering giving Transamerica a …
Plans to create a truly pan-European insurance company out of Eureko, up to now a rather loose partnership of eight European insurers, advanced significantly on Monday with the the announcement that Banco Commercial Portuges (BCP) and Holland’s Achmea will merge …
Holland’s ING Group announced that it plans to consolidate “its extensive reinsurance expertise and operations under the name ING [lion] Re. “This is a response to increasing globalisation in the reinsurance sector and is designed to ensure ongoing organic profit …
As announced at the beginning of April, the Dutch Association of Insurers (DAI), which represent over 300 Dutch insurance companies, including ING, Aegon, Fortis and others, has formally joined the International Commission on Holocaust Era Insurance Claims (ICHEIC). In a …
In a move made possible by Aegon’s July 1999 acquisition of Transamerica, the worksite marketing divisions of eight companies have joined forces to form a new organization, Transamerica Worksite Marketing. The new organization is expecting $50 million in estimated new …
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 …
