Aon, Old Republic Insurance Co. Chicago-based Aon has taken steps to exit the property and casualty underwriting business by moving to sell its Construction Program Group (CPG). Aon also announced that it would strengthen reserves for its remaining specialty property …
Arch Reinsurance Ltd. is opening a branch office in Zurich, Switzerland. The new office will focus on regional business that is complementary to the existing relationships of Arch Re in Bermuda. The new office will also have a strong emphasis …
From a financial standpoint Swiss Re’s integration of GE Insurance Solutions seems to be progressing well. However, it has inevitably led to job cuts, or as the British would put it, redundancies. Swiss Re announced that it “will start informing …
The St. Paul Travelers Companies, Inc. reaffirmed today that media reports of it being in discussions regarding the possibility of a merger with Zurich Financial Services Group are not true. While the company also reaffirmed that its policy is to …
France’s AXA Group has received approvals from U.S., Swiss and the European Commission antitrust authorities for its CHF12.3 billion ($9.89 billion) agreement to acquire Winterthur Swiss Insurance Co. from Credit Suisse, its current owner. AXA said that “subject to the …
Calif.-based Risk Management Solutions has opened an office in Zurich, Switzerland “to service its growing client base in continental Europe.” RMS said it chose to locate in Zurich as it is “a major European center for insurance and finance, and …
Starr Aviation Agency, Chubb Starr Aviation Agency Inc., a wholly-owned specialty subsidiary of C.V. Starr & Co. Inc. and The Chubb Corp. entered into an underwriting agreement under which Chubb will provide hull and liability coverage to Starr Aviation’s general …
A.M. Best Co. affirmed the financial strength rating of “A” (excellent) of Allianz Suisse Versicherungs-Gesellschaft (ASV) and Allianz Suisse Lebenversicherungs-Gesellschaft (ASL), both based in Switzerland. The outlook for both ratings remains stable. At the same time, Best affirmed the issuer …
A.M. Best Co. upgraded the financial strength rating to “A-” (excellent) from “B++” (very good) of Infrassure Ltd., based in Switzerland, and assigned an issuer credit rating of “a-“. The outlook for both ratings is stable. The ratings reflect Infrassure’s …
The International Insurance Society announced that Orio Giarini, of Switzerland’s Geneva Association and Siegfried Sellitsch of Austria’s Wiener Staedtische have been named to the prestigious Insurance Hall of Fame. They will be honored in Chicago, July 17, 2006, at the …
