Fitch Ratings announced that it has affirmed the Insurer Financial Strength rating of ‘AA’ and the Long-term rating of ‘AA-‘ for Assicurazioni Generali SpA, the major operating insurer and holding entity of the Generali Insurance Group. Fitch also announced, however, …
Standard & Poor’s Ratings Services announced that it has revised its outlook on Switzerland’s Converium Group to negative from stable, while reaffirming its single-‘A’-plus long-term counterparty credit and insurer financial strength ratings. The major companies involved are the parent, Converium …
A federal court in New York has ruled that a lawsuit brought by Holocaust victims and their families against Italian insurer Generali and Switzerland’s Zurich Life Insurance Co. can go forward in the U.S. court. The companies had sought dismissal …
The International Commission on Holocaust Era Insurance Claims (ICHEC) announced that it has reached an agreement for payments totaling around $275 million to be made to Holocaust survivors and their families in compensation for unpaid life and property insurance claims …
Standard & Poor’s indicated that its ratings on Switzerland’s Zurich Financial Services (ZFS) will “remain on CreditWatch with negative implications, where they were placed on Sept. 5, 2002, pending the successful implementation of ZFS’ rights issue.” (See IJ Website Sept. …
The equity storms that have battered the earnings of many of Europe’s biggest insurers in the first half of 2002 became a class 5 hurricane for the Anglo-Swiss Group Zurich Financial Services (ZFS) which posted a net loss for the …
The ACE Group of Companies announced it will provide funding for 20 New York City firefighters to compete in the World Firefighters Games in New Zealand. While in New Zealand, the participating New York City firefighters will also be guests …
Commissioner Low was very gratified with the decision. From his perspective, this is a time-sensitive issue because some of these survivors are dying every day,” said Nanci Kramer, a spokesperson with the California Department of Insurance, when asked how Insurance …
Germany’s Allianz Group posted net income of € 1.9 billion ($1.73 billion) in the first quarter compared to € 704 million ($641 million) in the same period last year, a sizeable 170 percent increase, even though a portion of it …
Although most reports agree that Generali SpA, Italy’s largest insurer, wrote the primary coverage on the 30-story Milan building, know locally as Il Pierllone after the tire company that was once headquartered there, it’s still unsure what the damages will …
