Willis Group Holdings Limited (NYSE: WSH) reported the company’s total second quarter revenues were up by 19 percent, an increase due primarily to the HRH acquisition. Total reported revenues for the quarter ended June 30, 2009 were $784 million compared …
According to a report from Risk Management Solutions, last week’s extremely heavy rainfall, which continued for three days over Central Europe, triggered severe flooding across parts of the Czech Republic, Germany, Poland and Austria and putting Hungary on a high …
A.M. Best Co. has downgraded the financial strength rating to ‘D’ (Poor) from ‘C-‘ (Weak) and issuer credit rating to “c” from “ccc-” of Florida-based Argus Fire & Casualty Insurance Company, both with negative outlooks. “These rating actions reflect Argus’ …
Peter den Dekker, corporate insurance risk manager at Dutch multi-national Stork, has been elected President of the Federation of European Risk Management Associations (FERMA). He takes over from Marie-Gemma Dequae, whose mandate came to an end after four years, following …
The Netherlands ING Group said on Thursday that it plans to divest operations worth up to €8 billion ($10.6 billion) to reduce risk and will focus its banking activities on Europe. ING, which was loss-making in 2008 and got a …
Lloyd’s has opened its new representative office in Poland with a reception attended by over 80 people from the local and international insurance community, including brokers, managing agents and risk managers. Polish regulators issued a license for Lloyd’s to write …
Standard & Poor’s Ratings Services has announced various ratings actions on several subsidiaries of the American International Group. “These actions follow AIG’s decision to revise or terminate guarantees,” explained credit analyst Rodney Clark. “The guarantees had provided the basis for …
For the moment the economic recession is driving the global stagecoach, while climate change is riding shotgun, but it’s not as bad as it could be. Reports from Europe point to the fact that the P/C industry’s exposure to the …
Munich Re has released its annual report on the natural catastrophes that occurred in 2008, which it describes as “one of the most devastating years on record.” 2008’s major catastrophes included a number of tropical cyclones (hurricanes and typhoons) and …
Munich Re has released its analytical report on the natural catastrophes that occurred in 2008, which the reinsurer describes as, “one of the most devastating years on record.” 2008’s major catastrophes included a number of tropical cyclones (hurricanes and typhoons) …
