France’s AXA S.A. has again topped the list of the world’s 25 largest insurance companies, based on premiums written, compiled by A.M. Best. The lists, which were compiled both on asset value and on net premiums written, reflects the dominance …
Tokio Marine said on Wednesday it will buy U.S. insurer Delphi Financial Group for $2.7 billion, the latest in a string of deals by Japan’s second-largest property-casualty insurer aimed at growing outside its mature home market. Tokio Marine said it …
AXA SA and Assicurazioni Generali SpA are among bidders shortlisted for HSBC Holdings Plc’s planned sale of its general insurance business, sources familiar with the matter told Reuters. HSBC, Europe’s biggest bank, launched the sale in September in a deal …
France’s AXA Group announced that it has successfully completed the sale of its Canadian operations in Property & Casualty and Life & Savings insurance to Intact Financial Corporation for a total cash consideration of C$2.6 billion (€1.9 billion; US$2.524 billion). …
A new study in Swiss Re’s sigma series concluded that the global insurance industry has returned to a pattern of growth. The study – World insurance in 2010 – reveals growth in global premium volume and capital. Premium volume “grew …
Swiss Re announced that it will acquire approximately 300,000 policies and £1.6 billion [$2.62 billon] in assets from American Life Insurance Company. The transaction reinforces Swiss Re’s “commitment to strengthening its Admin Re® market presence,” said the bulletin. It has …
A.M. Best Europe – Ratings Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a” of French reinsurer SCOR SE and its subsidiaries. Best also affirmed the subordinated debt ratings …
Five Japanese life insurers say they may buy more unhedged foreign bonds, believing that the yen is likely to weaken and that the currency risks are low enough for them not to take on higher hedging costs, a stance that …
French reinsurer SCOR is set to pay $913 million for most of Dutch insurer Aegon’s Transamerica Reinsurance operations. When concluded, the combined companies would become the second largest life reinsurer in the U.S. Aegon, which has been winding down and …
Britain is probing investment banks over insurer Prudential Plc’s failed $35.5 billion bid for rival AIG’s Asian business, AIA, last year, two people familiar with the matter said. The probe, ordered by the Financial Services Authority (FSA), would examine the …
