California-based Risk Management Solutions (RMS) has expanded its catastrophe modeling capabilities to include windstorm risk in Ireland and Sweden, and earthquake risk in Turkey and the Philippines. The expansion brings the total number of territories in the RMS suite of …
Standard & Poor’s affirmed its single-‘A’ counterparty credit and insurer financial strength ratings on Trygg-Hansa Forsakrings AB, Publikt, but announced that it had revised its outlook on the Sweden-based non-life insurer to negative from stable, “following a deterioration in the …
Standard & Poor’s announced that it has lowered its long-term ratings on Sweden-based Sirius International Insurance Corp. (Sirius) to single-‘A’ from single-‘A’-plus “as a result of a weakening in the company’s business position.” It also removed Sirius from CreditWatch, where …
The Netherlands-based Eureko consortium, apparently frustrated by the Polish government’s continued delays in implementing the agreement to sell a controlling interest in Poland’s largest insurer Powszechny Zaklad Ubezpieczen (PZU) (See IJ Website Feb.7), has formally requested that the matter be …
Standard & Poor’s announced that it has lowered its long-term counterparty credit and insurer financial strength ratings on the operating entities of Scandinavia’s If P&C Group to single-‘A’-minus from single-‘A’, with a stable outlook. The group includes Sweden-based If Property …
Fortune magazine has named Sweden’s Skandia as one of the one of the ten “greatest workplaces” in Europe, following a survey of journalists, securities analysts, business school professors, consultants and university students. Fortune has been publishing yearly lists of America’s …
The long wait is finally over, as more than 300 million people in 12 member countries of the European Union finally said goodbye to their francs, marks and liras and began using Euros. The conversion is the culmination of a …
Standard & Poor’s assigned its single-‘A’-minus long-term counterparty and insurer financial strength ratings to Finnish insurer Sampo Industrial Holdings Insurance Co., the nonlife subsidiaries of Sampo PLC, and placed them on CreditWatch with positive implications. The rating agency’s action takes …
Bermuda-based Sovereign Risk Insurance Ltd. announced the launch of its “Real Exchange Rate Liquidity (REX) product,” designed to “partially mitigate the risks that large currency devaluations will impair an infrastructure project’s ability to make debt service repayments.” Sovereign, a joint …
Finland’s Sampo will join two other Nordic Insurers, Sweden’s Skandia and Norway’s Storebrand as a shareholder in If Property and Casualty Insurance Ltd. following the transfer of its non-life operations to the group. When completed, Sampo will own a 38 …
