Insurance company MONY Group Inc. plans to buy one of the few remaining independent U.S. regional brokerages, Advest Group Inc. for an estimated $275 million, in an effort to expand into the lucrative securities business. The deal, which came after …
A U.S. judge’s decision to approve a $1.25 billion settlement to restore Holocaust-era assets to their rightful owners was met with open arms by Swiss banks, insurers and the government. Swiss banks reportedly agreed to pay the settlement, which is …
A.M. Best Co. has upgraded the financial strength rating of the Farmers Insurance Group to A+ from A. The rating applies to the 18 members of the group and acknowledges Farmers Insurance Group as a core and integral operation of …
Plans to create a truly pan-European insurance company out of Eureko, up to now a rather loose partnership of eight European insurers, advanced significantly on Monday with the the announcement that Banco Commercial Portuges (BCP) and Holland’s Achmea will merge …
A.M. Best Co. has upgraded the financial strength rating of the Farmers Insurance Group to A+ from A. The rating applies to the 18 members of the group and acknowledges Farmers Insurance Group as a core and integral operation of …
The passage of the Gramm-Leach-Bliley Act marked a watershed in U.S. financial regulation, opening up the banking, insurance and securities sectors to cross-holdings and business combinations after almost 70 years of separation. Most segments of the insurance industry praised the …
The “AA+” long-term counterparty credit and insurer financial strength ratings on Zurich Insurance Co. were affirmed by S&P. The affirmation comes in the wake of the Switzerland-based company’s announced intention of simplifying its dual Anglo-Swiss holding company structure into a …
ACE Ltd. isn’t the only insurance company to see earnings increase in the 1st quarter. Despite some difficulties, notably the December storms in Europe, most earnings reports have been positive. It seems most of the industry is looking back on …
Europe’s largest mutual life insurer, Edinburgh-based Standard Life, has set a date of June 27 for a special general meeting to vote on whether or not members want to demutalize the 175- year-old insurer. A group, led by Fred Woollard …
On March 9, the German financial world quaked with the announcement that Deutsche Bank (DB), Germany’s largest bank, planned to merge with cross-town rival Dresdner Bank. Insurance giant Allianz AG was a driving force behind the deal and stands to …
