Zurich Financial Services Group announced that it has named Thomas Buberl, a 35-year old German citizen, as the new CEO of Zurich Switzerland, effective January 1, 2009. He will join Zurich on November 1, 2008, and, after a two month …
The American Institute for CPCU honored 757 new graduates of the Chartered Property Casualty Underwriter (CPCU program at the 2008 CPCU conferment ceremony in Philadelphia, Pa., the birthplace of the CPCU designation. The 2008 class brings the number of CPCU …
Bermuda-based Allied World Assurance Company Holdings announced that it will open a branch office in Zug, Switzerland that offers reinsurance products throughout Europe and beyond. The office, located at Lindenstrasse 4, 6340 Zug/Baar, will officially open on October 1, 2008. …
Standard & Poor’s Ratings Services has revised its outlook on French reinsurer SCOR SE and its guaranteed subsidiaries (collectively SCOR or the group), to positive from stable. SCOR regained an ‘A-‘ rating from S&P in Sept. 2007, following completion of …
Both Standard & Poor’s and A.M. Best have given high ratings to Zurich’s latest debt issue. S&P said it has “assigned its ‘A+’ long-term senior unsecured debt rating to the proposed Swiss franc (CHF) 800 million [$720 million] dual-tranche fixed-rate …
A.M. Best Co. has commented that” the ratings of Flagstone Reassurance Suisse SA (Flagstone Reassurance) (Martigny, Switzerland), Flagstone Reinsurance Limited (Flagstone Re) (Hamilton, Bermuda) and Flagstone Reinsurance Holdings Limited (Flagstone Holdings) (Hamilton, Bermuda) are unchanged following the recently announced organizational …
A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and the issuer credit rating (ICR) of “aa-” of Spain’s MAPFRE RE, Compania de Reaseguros, S.A. with a stable outlook. “The ratings reflect MAPFRE RE’s integral role within …
The continued steady subprime and credit crisis-related lawsuit filing level suggests that the litigation wave will continue during the second half of 2008. Is litigation stemming from the subprime- and credit crisis-related activity increasing directors’ and officers’ insurance premiums? Despite …
Bermuda-based Flagstone Reinsurance Holdings Limited announced that it will restructure its global reinsurance operations by merging its two wholly owned subsidiaries, Flagstone Reinsurance Limited of Bermuda and Flagstone Réassurance Suisse SA into one operating platform – Flagstone Réassurance Suisse SA …
In a recent interview, published on the Lloyd’s web site (www.lloyds.com), Enrico Bertagna, Regional Manager for Europe, discussed Lloyd’s present and future plans to expand the London Market’s presence. Europe is a vital region for Lloyd’s and there are plans …
