Credit Suisse Group is selling its large multi-corporate insurance business to Bermuda-based financial services group XL Capital Ltd for $600 million. The move will reportedly allow Credit Suisse’s Swiss-based international insurer, Winterthur, to focus on private non-life clients and small …
Credit Suisse Group is selling its large multi-corporate insurance business to Bermuda-based financial services group XL Capital Ltd for $600 million. The move will reportedly allow Credit Suisse’s Swiss-based international insurer, Winterthur, to focus on private non-life clients and small …
XL Capital Ltd has agreed to purchase Winterthur International from Winterthur Insurance, a subsidiary of the Credit Suisse Group. The all-cash transaction is valued at approximately $600 million and will be funded by XL out of current resources. Winterthur International …
Swiss Re published the following preliminary estimates of the losses caused by natural and man-made catastrophes in the year 2000: 17,000 lives were lost, direct losses were around $38 billion, and $11 billion in insured losses. The estimates, which will …
Citing strong capitalization and conservative reserve practices, Standard & Poor’s rating service affirmed the stable outlook for the Swiss nonlife insurance market, which includes such global insurers as Zurich Financial Services and Winterhur. Karin Clemens, S&P Associate Director in Frankfurt, …
Deborah Senn, Insurance Commissioner of Washington State, announced that she will hold a public hearing on Nov. 20 to assess the progress that European insurance companies are making in the international effort to compensate Holocaust victims and their heirs. Allianz …
Deborah Senn, Insurance Commissioner of Washington, announced that she will hold a public hearing on Nov. 20 to assess the progress that European insurance companies are making in the international effort to compensate Holocaust victims and their heirs. Allianz AG …
The week-long rains which caused heavy damages in Southern England have subsided there, but new storms over the weekend in the Alps caused swollen rivers to overflow and produced a number of mudslides destroying buildings and cutting transport links. The …
The outlook of Zurich Financial Services (ZFS), the Switzerland-based holding company of the ZFS Group, was revised to stable from negative by S&P. Key factors in the rating action included the group’s improved nonlife operating performance and successful reduction of …
Zurich Financial, the Anglo Swiss financial services consortium, posted weaker than expected results from first half operations. Analysts blamed the disappointing performance on reduced capital gains due to weaker equity markets, and changes in accounting methods for capital gains. While …
