FERMA conference highlights growing importance of risk management in complex global business environment The insurance industry’s “traditional model” has become outdated and is so abstruse that the industry’s ability to compete is being jeopardized. European risk managers face the same …
French reinsurer SCOR SE announced that it has renewed its successful business relationship with the Medical Defence Union Ltd. (MDU), the UK’s leading medical defense organization. MDU was a joint venture partner of Converium AG of Switzerland, which became part …
Mississippi will share in $72 million of assets seized from Martin Frankel, a former financier convicted of stealing from insurance companies, Insurance Commissioner George Dale said. Dale said the assets were seized by the FBI and the Internal Revenue Service …
Fitch Ratings has placed the following ratings of Ambac Financial Group, Inc. and Ambac Assurance Corp. (Ambac) on Rating Watch Negative: Ambac Financial Group, Inc.- Long-term rating ‘AA’; – $400 million 5.95 percent senior unsecured notes due Dec. 5, 2035 …
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 (ZIC), the main operating company of Swiss-based Zurich Financial Services Group (ZFS) and its subsidiaries. …
Zurich Financial Services announced changes in the claims division of its global corporate and European General insurance units. Jutta Kath, 47, who is currently Chief Claims Officer for Global Corporate, has been appointed to the position of Chief Claims Officer …
Zurich Financial Services announced the appointment of Andreas Grünbichler, a 43-year old Austrian, as the CFO of International Businesses (IB), effective January 1, 2008. He will become responsible for all the IB Finance and Actuarial functions, with all the regional …
Risk Management Solutions (RMS) has released an impact study of the potential losses from a windstorm of the force and velocity of the one that hit Southern England and Northern France in 1987, if it occurred today. The storm struck …
In a move that it says underscores its commitment to achieve a leadership position in Switzerland, Willis AG, the Swiss branch of global insurance broker Willis Group Holdings, has acquired Burkart Risk Consulting & Partner AG (BRP). Terms of the …
More than 1200 participants assembled Monday morning at Geneva’s International Conference Center for the fifth Forum of the Federation of European Risk Management Associations (FERMA). Delegates were welcomed by Pierre-François Unger, president of the State Council of the State of …
