AIR Worldwide Corp. (AIR) announced its Mediterranean Region Earthquake Model is now available in its detailed risk modeling software system, CLASIC/2. The update enables European primary insurers, brokers, and reinsurers to more accurately estimate earthquake losses by incorporating risk specific …
The European Union has approved a deal between Fortis, the Belgian-Dutch financial services giant, and Banco Comercial Português (BCP), Portugal’s biggest private bank and a major insurer. The approval gives Fortis the go-ahead to proceed with the acquisition of a …
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 …
Zurich Financial Services Group (ZFS) announced the appointment of Geoff Riddell (48) and Dieter Wemmer (47) to the Group Executive Committee effective immediately. Riddell will continue to serve as CEO of Zurich’s Global Corporate Business, the position he has held …
Boston-based Liberty Mutual Group will further expand its Latin American insurance business with the purchase of the insurance operations of AGF Allianz Chile S.A., a unit of France’s AGF, which is in turn a division of Germany’s Allianz AG. The …
Portugal’s largest private bank, Banco Comercial Portugues, is selling most of its insurance business and creating an alliance with Dutch-Belgian bank Fortis NV, according to the Associated Press. BCP said it will sell its non-life insurance units to state-owned rival …
Espirito Santo Financial Group S.A. (ESFG), a holding company operating in Portugal and Luxembourg, announced the non-audited results of its insurance subsidiaries in Portugal (Tranquilidade Group), Companhia de Seguros Tranquilidade, (“Tranquilidade”) (non-life), Companhia de Seguros Tranquilidade Vida (“Tranquilidade Vida”) (life) …
Liberty Mutual Group announced that it has concluded the acquisition process by its Spanish subsidiary, Liberty Insurance, of MetLife’s Spanish operations, including its non-life subsidiary, Genesis Seguros Generales, S.A., and its life subsidiary, Seguros Genesis, S.A. The companies offer auto …
Standard & Poor’s Ratings Services announced that it has removed from CreditWatch and affirmed its ‘A+’ long-term counterparty credit and insurer financial strength ratings on the core operating entities of the Netherlands-based Eureko insurance group. In a related move the …
Standard & Poor’s announced that it has removed from CreditWatch and affirmed its ‘BBB+’ long-term counterparty credit and insurer financial strength ratings on the operating entities of the Portugal-based insurance group Seguros e Pensoes (SeP)–including Ocidental Companhia Portuguesa de Seguros …
