Warning that “European businesses face uninsurable environmental impairment risks,” the Federation of European Risk Management Associations (FERMA) called on insurers to be less “risk averse.” It urged members to “develop products that will allow businesses to protect themselves against new …
The insurance industry needs to improve its customer retention strategies, because a satisfied customer isn’t always a loyal one, according to the World Insurance Report, an international study of more than 10,000 insurance customers, insurers and distributors. The study, released …
Report: Customer satisfaction doesn’t guarantee loyalty The insurance industry needs to improve its customer retention strategies, because a satisfied customer isn’t always a loyal one, according to the World Insurance Report, an international study of more than 10,000 insurance customers, …
Germany’s Allianz SE, Europe’s largest insurer in terms of gross premiums written, is set to get even bigger. The Munich-based Company announced plans to acquire the remaining 42.4 percent of the shares in French insurer AGF that it does not …
Aon, Valley Oak Systems Aon entered into a letter of intent agreement to acquire Valley Oak Systems of San Ramon, Calif. It expects to consummate the transaction by January 31, 2007. Valley Oak Systems (VOS) offers claims management software, services …
Hub, Coburn Hub International Ltd. announced plans to acquire Vermont-based Coburn Insurance Agency Inc. Hub International recently expanded its transportation practice with the acquisition of Kaufman and Kaufman, a $9 million revenue brokerage based in Salt Lake City. With the …
The ACE Group of Companies announced the appointment of Roberto Hidalgo as President and CEO of ACE Argentina and ACE Chile, effective February 1, 2007. He will leave his current post as President and CEO of ACE Puerto Rico to …
Zurich Financial Services Group has signed an agreement for the purchase of 100 percent of Spain’s ACC Seguros y Reaseguros de Daños, S.A. “The acquisition of ACC, a leading surety writer based in Galapagar (Madrid), will position Zurich as the …
A.M. Best Co. has affirmed the financial strength rating (FSR) of “A” (Excellent) and the issuer credit rating (ICR) of “a+” of Zurich Insurance Company, the main operating company of Switzerland’s Zurich Financial Services Group (ZFS) and its subsidiaries. Best …
A.M. Best Co. has placed the financial strength rating of “A+” (Superior) of Spain’s Mapfre Asistencia Compania Internacional de Seguros y Reaseguros S.A. (Mapfre Asistencia) under review with negative implications. Best said the rating action reflects its “need to assess …
