The increasingly sophisticated business of constructing catastrophe models is driven by three main imperatives: what are the chances of a given event happening; what are the upper and lower limits of a catastrophic occurrence; and what effect, depending on the …
The increasingly sophisticated business of constructing catastrophe models is driven by three main imperatives: what are the chances of a given event happening; what are the upper and lower limits of a catastrophic occurrence; and what effect, depending on the …
Standard & Poor’s announced that it has completed its review of Swiss-based Zurich Financial Services, undertaken after the Sept. 11 attacks, and has lowered its counterparty credit and insurer financial strength ratings on the group’s principal operating entities to double-‘A’-minus …
According to reports in the Polish newspaper Rzeczpospolita the Anglo-Swiss Group Zurich Financial Services plans to withdraw from both the Polish life and property/casualty market. The article suggest that the plans are well advanced and indicates that both Italy’s Generali …
Many European countries observed Sunday, Jan. 27 as Holocaust Memorial Day, a time set aside to honor the memory of the 12 million human beings—over six million of them Jewish—who perished at the hands of the Nazis during World War …
Bermuda’s XL Capital Ltd has announced several management changes. Willi Suter, President and CEO of XL Winterthur International, XL’s large account risk management insurance operation, will assume a new position leading an international strategic development initiative. Clive Tobin has been …
Switzerland’s Converium Holding Ltd. announced that its U.S. subsidiary Converium Insurance (North America) Inc. (formerly ZC Insurance Company) has reached an agreement with Crop 1 Insurance of Des Moines, Iowa to manage its delivery of Federal Crop Insurance. Converium, which …
Standard & Poor’s has affirmed its long-term double-‘A’ counterparty credit and insurer financial strength ratings on Switzerland-based reinsurance company Trans Re Zurich (TRZ) with a stable outlook. “The ratings on TRZ reflect the company’s core status as part of the …
Former Secretary of State Lawrence Eagleburger reportedly stormed out of a meeting with European insurers yesterday, and abruptly resigned his position as Chairman of the International Commission on Holocaust Era Insurance Claims (ICHEIC); however, after protracted discussions he was persuaded …
Alea Group Holdings (Bermuda) Ltd.(AGH) announced that it has received an additional $90 million of new equity capital from institutional investors, bringing the Group’s total operating capital to $600 million. AGH was recently formed in Bermuda to bring together the …
