Global broker Willis Group Holdings has been named the “2006 European Commercial Broker of the Year” for the second consecutive year. The award was presented as part of the annual European Risk Management Awards conducted by StrategicRISK. It’s determined by …
Lloyd’s Chairman, Lord Peter Levene, speaking at a symposium in St. Gallen, Switzerland, outlined what he feels are essential components of “success factors for Europe.” Levene began his remarks by stating as a “key belief” that modern Europe cannot function …
Swiss Re announced that 50 percent of its existing shareholders have subscribed for the new shares issued pursuant to its “at-market rights offering” (See IJ Website April 27). “As a result of the substantial take-up by Swiss Re’s existing shareholders, …
Bermuda’s XL Capital Ltd. announced that it will host two global risk conferences on the theme “One World Without Borders.” The first will be held on May 10-11 in Berlin, Germany, and the second on October 4-5 in Boston, Mass. …
Swiss Re announced the launch of its planned $1 billion rights issue to fund its purchase of GE Insurance Solutions (GEIS). In addition, the company provided further information on its forthcoming hybrid capital offerings. The company stressed that no public …
Zurich Financial Services’ Annual General Meeting, held April 20, evinced the considerable turn around in its fortunes under the direction of CEO James J. Schiro, who took over the faltering giant in May 2002. In his presentation speech to shareholders …
According to figures released by the British Virgin Islands (BVI) Financial Services Commission the territory posted 10 percent overall growth in its captive insurance business in 2005. “Since the captive legislation was introduced in the BVI, a total of 543 …
Tower Group, CastlePoint Tower Group, Inc. in New York has entered into a strategic relationship with CastlePoint Holdings, Ltd., a Bermuda-based holding company that it has sponsored. CastlePoint has been capitalized with $265 million and is now able to provide …
In a bulletin from its London office Standard & Poor’s Ratings Services said it has “clarified its stance on its ‘BB+’ rating on the $200 million 7.125 percent senior notes issued by U.S.-based Converium Holdings (North America) Inc. (BB+/Stable/–), due …
A.M. Best Co. announced that it has affirmed the financial strength ratings of “A-” (Excellent) and the issuer credit ratings (ICR) of “a-” of Winterthur Swiss Insurance Company and its core subsidiary, Winterthur Life Insurance Company, collectively known as Winterthur …
