Zurich Financial Services Group said it has completed the acquisition of 100 percent of Turkish general insurer TEB Sigorta A.S. from TEB Mali Yatirimlar A.S. (See IJ web site – https://www.insurancejournal.com/news/international/2008/01/24/86671.htm). In a separate bulletin Zurich said its subsidiary Zurich …
Confident bosses turn deaf ear to new ideas when they are feeling the power of their position, new research suggests Powerful people have confidence in what they are thinking. Whether their thoughts are positive or negative toward an idea, that …
Firm’s 40 years of success rests on diversity, decentralization and tough decisions The founder of one of the most successful insurance companies went into the insurance business because he thought it would be easier than competing in the investment business. …
The Toronto Raptors filed a statement of claim against the Spanish Basketball Federation for nonpayment of insurance related to player Jorge Garbajosa’s injury. Garbajosa underwent more surgery on his left leg and ankle on Dec. 11 in Baltimore. The 6-foot-9 …
Dutch-Belgian financial services group Fortis said its profit halved in the fourth quarter after a €1.5 billion ($2.3 billion) subprime-related writedown. Net profit, which also included gains from Fortis’ 2007 acquisition of ABN AMRO’s Dutch business and divestment of a …
The founder of one of today’s most successful insurance companies went into the insurance business because he thought it would be easier than competing in the investment business. In 1967, when William R. Berkley was still at Harvard Business School, …
A new report from Marsh’s London office focuses on the increasing problems of transport and logistics firms across Europe in coping with new categories of liability and an increasingly complex regulatory landscape. “Liability Insurance Buyers Report Europe 2007”, analyzes “the …
Shareolders of The Commerce Group, Inc. voted at a special meeting this week to approve the Oct. 30, 2007 agreement for the acquisition of the company by Mapfre S.A. The company said 88 percent voted to approve the deal. Completion …
A.M. Best Co. has affirmed the issuer credit rating (ICR) of “a” of Mapfre S.A. (formerly Corporacion Mapfre S.A., the holding company of Spain’s Mapfre Group) and the ratings of “a” on the €275 million ($403.5 million) 6.02 percent senior …
The Commerce Group, Inc. reported 2007 fourth quarter net earnings were $19.6 million, or $0.32 per diluted share, compared to net earnings of $59.4 million or $0.87 per diluted share for 2006. Commerce is in the process of being acquired …
