Standard & Poor’s Ratings Services announced that it has affirmed its ‘A’ long-term counterparty credit and insurer financial strength ratings on Switzerland-based Winterthur Swiss Insurance Co, with a “negative” outlook. S&P explained that Winterthur Swiss is the holding company for …
Credit Suisse Group’s Winterthur Insurance announced that it has signed an agreement to sell its life and P/C operations in Italy to Compagnia Assicuratri Unipol for 1.465 billion euros ($1.7 billion) in cash. The deal is the second sale in …
The 39th annual seminar of the International Insurance Society (IIS), hosted by the Insurance Information Institute, is scheduled to be held July 13-16, 2003 at the Waldorf-Astoria in New York. Among the issues to be discussed by many of the …
A.M. Best Co. announced that it has affirmed the financial strength ratings of ‘A’ (Excellent) for the Zurich Financial Services Group (ZFS), Switzerland, and its core subsidiaries. “The outlook remains positive following the company’s release of first quarter results for …
Allianz AG’s Annual General Meeting (AGM) formalized a number of management changes. Michael Diekmann officially takes over today as the new Allianz Group CEO. His predecessor, Henning Schulte-Noelle, who agreed to step down last December, will succeed Klaus Liesen as …
A.M. Best Co. has downgraded the financial strength ratings of Credit Suisse’s Winterthur Swiss Insurance Company and its core subsidiary, Winterthur Life Insurance Company, collectively known as Winterthur Group, to A (Excellent) from A+ (Superior). Best also said it had …
Arkansas Insurance Commissioner Mike Pickens announced that Gary Atnip, an alleged co-conspirator with Martin Frankel, entered a guilty plea to a felony charge of violating the maintenance of home office records law. The plea was entered in the Seventh Division …
Swiss-based Zurich Financial Services (ZFS) confirmed previous indications that 2002 was a very bad year by posting a $3.4 billion net loss. The losses were mainly due to special writeoffs and the decline in equity values, which amounted to around …
Zurich-based Winterthur, the insurance subsidiary of Credit Suisse Group, announced that it plans to combine its two principal divisions outside of Switzerland, P/C insurance and life and pension operations, under one unified management structure. The move is seen as a …
Arkansas Insurance Commissioner Mike Pickens announced that a guilty plea to a felony charge of violating the maintenance of home office records law has been entered for Gary Atnip, an alleged co-conspirator with Martin Frankel who reportedly perpetrated what has …
