AXA’s CEO Henri de Castries, in an interview with the French financial newspaper La Tribune, confirmed that the French insurer had held talks with Germany’s Deutsche Bank and “other players,” whom he didn’t name, about possible business deals. AXA is …
A.M. Best Co. announced that it “has placed the A+(Superior) financial strength rating of Zurich Financial Services Group’s (Zurich) reinsurance operations under review with developing implications.” The review follows Zurich’s announcement that it plans to exit the reinsurance business by …
As the latest in a series of floods, which have ravaged France this winter, showed some signs of receding, insurers began counting the potential losses. Last October’s floods in Europe cost insurers an estimated $1.2 billion with about a quarter …
Italy’s Assicurazioni Generali SpA posted net profits of €1.452 billion ($1.28 billion) for the year 2000, a healthy 74.1 percent gain over 1999. A capital gain of €273 million ($245 million) from its sale of its interest in Spain’s Banco …
Donegal Group’s board has approved a new capital structure, including the consolidation of six subsidiary insurance companies into three in an effort to reduce operating expenses. The board is also eyeing a one-for-three reverse split of the company’s outstanding common …
To the relief of employers and insurers, Congress overturned the ergonomic regulations adopted by OSHA last year. Despite all the caterwauling about the ergonomic regulations adopted by OSHA in November 2000, I think they would have worked fine-if Bill Clinton …
Three months into the new year, the picture for the California workers’ comp market is not pretty, and it’s likely to get worse. Developments in recent weeks-including lowered ratings, carrier losses, declining profits and the ongoing hunt for some kind …
Members of the Certified Professional Insurance Agent (CPIA) Society enjoyed a valuable National Sales & Marketing Education Conference March 7-10 in San Diego’s balmy climate. Attendees had the opportunity to take advantage of the intimate gathering and to come away …
Darlene Nancy Berdeaux, 41, of Ventura, was arrested last month in connection with claims she filed after burning her hand while working as a waitress four years ago, the Los Angeles Times reported. The Ventura County District Attorney’s office filed …
