France News

France’s CNP Assurances in Talks to Buy BTG’s Brazil Insurance Units

French insurer CNP Assurances has entered exclusive talks with Grupo BTG Pactual SA to buy its 51 percent stake in Brazilian insurer Pan Seguros, two sources familiar with the matter said on Tuesday. CNP Assurances has offered 1.6 billion Brazilian reais ($396 million) …

Dartigues Joins JLT Re’s Paris Office as Client Manager

JLT Re the global provider of reinsurance broking and consultancy, has appointed Eve Dartigues in Paris as a client manager. Dartigues started her career in aviation insurance at La Reunion Aerienne and in property catastrophe reinsurance at Liberty Specialty Markets …

SCOR 2nd Quarter Net Income Rises 26% to $168 Million

SCOR SE, France’s largest reinsurer, said second-quarter profit rose 26 percent as the stronger dollar helped push up premium growth. Net income climbed to 152 million euros ($168 million) from 121 million euros a year earlier, the Paris-based company said …

Willis CEO: Gras Savoye Acquisition Part of Strategy to Expand Global Reach

Willis Group Holdings plc, the third-largest insurance broker, offered to buy the 70 percent of Gras Savoye that it doesn’t already own to expand in France, Eastern Europe and the Middle East. Willis will pay 550 million euros ($590 million), a sum …

Capstone Underwriters’ Bellet Honored by French Government

Alain A. Bellet, owner and president of Capstone Underwriters LLC, in Dallas, Texas, has been awarded the Medal of Chevalier of the Legion of Honor, the highest decoration given by the government of France. The order of the Legion of …

ACE Launches Surety Services in France, Joins Global Surety Association

The ACE Group has expanded its international surety capabilities in Continental Europe, by launching services in France and making a new executive appointment to lead this initiative. Aymeric Vinet Desrues joins ACE as surety underwriting manager, France, where he will …

U.S. ‘Fiscal Cliff,’ Europe’s Debt Woes Worry G20

Leading world economies pressed the United States on Sunday to act decisively to avert a rush of spending cuts and tax hikes, warning that the so-called fiscal cliff is the biggest short-term threat to global growth. Unless a fractious Congress …

French Non-Life Sector Resilient, Despite Economic Difficulties: Best Reports

A new report from A.M. Best notes that the “French insurance market has experienced significant volatility during the past few years, although the non-life sector continues to grow.”  The report comments that while the life market contracted in 2011, gross …

XL Group Opens New Insurance Office in Lyon France

XL Group plc’s insurance operations announced the opening of a new office in Lyon , France and the appointments of Auberi Etienne and Clotilde Bartok to join the team serving middle market companies in France. Both Mr. Etienne and Ms. …

Moody’s Changes EU Rating Outlook to Negative

Moody’s Investors Service has changed its outlook on the ‘Aaa’ rating of the European Union to negative, warning it might downgrade the bloc if it decides to cut the ratings on the EU’s four biggest budget backers: Germany, France, UK …