Authorities in Boston have cracked what is believed to be the largest federal hacking and identity theft case ever, involving the theft and sale of more than 41 million credit and debit card numbers. Eleven people, including a U.S. Secret …
The Catlin Syndicate, the largest syndicate at Lloyd’s of London in terms of premium capacity, is leading the cargo insurance coverage for goods transported by an innovative new rail container service linking Europe with China. The Company’s bulletin noted that …
Standard & Poor’s Ratings Services has announced that its ratings and outlook on Allianz SE -‘AA’ debt ‘A-1+’ with a stable outlook – and related entities were unaffected by our revision of the outlook to stable from positive on its …
Jean-Paul Rignault, chief executive of AXA Corporate Solutions, called for premium rates to be stabilized if insurers are to achieve adequate pricing and the current soft market cycle, now taking hold, is to flatten out. He spoke at the close …
French insurer AXA and BNP Paribas, a major French banking group, have reached an agreement for the establishment of a partnership on the Ukrainian P/C insurance market. AXA will acquire from BNP Paribas’ subsidiary UkrSibbank a 50 percent stake in …
Italy’s Generali Group has concluded an agreement with PPF Group N.V., an international financial group, headquartered in Amsterdam, Netherlands, which is 95 percent controlled by Petr Kellner, a Czech entrepreneur with a strong track record of success. PPF Group in …
Catastrophe risk modeler AIR Worldwide has issued a bulletin estimating insured losses from Winter Storm Kyrill (or Cyril) at between €4 billion and €8 billion ($5.18 billion and $10.37 billion). The GDV German insurance industry association estimated that country’s insured …
The mild winter weather that much of Europe has been enjoying for the last month came to a sudden halt earlier this week when the most violent storm to hit the continent since 1999 swept in from the Atlantic. So …
Nearly 32 years after Vietnam’s communists chased U.S. forces from their soil, the southeast Asian nation joined the capitalist club as the World Trade Organization’s 150th member on Thursday, signaling its emergence as one of the world’s fastest-growing economies. “Welcome, …
A.M. Best Co. has assigned a financial strength rating of “B+” (Very Good) and an issuer credit rating of “bbb-” to Ukraine’s Lemma Insurance Company with a stable outlook. “The ratings reflect Lemma’s strong risk-adjusted capitalization for 2004 and 2005, …
