Latest Spain Headlines
All the headlines from our Spain Topic Page, ordered by recency.
Zurich Closes Acquisition of 50% Stake in Spain’s Caixa Sabadell
Aug 15 2008 // Zurich Financial Services Group announced that it has completed the acquisition of a 50 percent stake in Spain’s Caixa d’Estalvis de Sabadell’s (Caixa Sabadell) life and general insurance companies,...
Zurich Acquiring 50% Stake in Spain’s Banco Sabadell’s Insurance
Jul 11 2008 // Zurich Financial Services Group has agreed to acquire a 50 percent stake in the life insurance, pension and general insurance operations of Banco Sabadell S.A., while establishing a long-term strategic distribution...
Spain’s Santander Eyes Dresdner Bank – Sources
Jun 20 2008 // Spanish retail bank Santander is considering buying Dresdner Bank in the latest twist of Germany’s bank merger frenzy, according to people with direct knowledge of the matter. The German banking industry is the...
Spain’s MAPFRE Completes Acquisition of U.S. Insurer Commerce
Jun 5 2008 // In a joint announcement Spain’s largest insurer, MAPFRE S.A. and The Massachusetts-based Commerce Group, Inc. announced that MAPFRE has completed its acquisition of Commerce. The parties reached agreement on a deal...
Spain’s Mapfre Completes Acquisition of Commerce Group
Jun 4 2008 // Spain’s largest insurer, Mapfre S.A., said it has completed its acquisition of The Commerce Group Inc., the 20th largest auto insurer in the country. Mapfre paid $36.70 in cash per share of Commerce’s publicly...
Zurich Acquires 50% of Spain’s Caixa Sabadell Life & P/C Insurance Units
Apr 24 2008 // Zurich Financial Services Group announced that it has signed agreements to acquire a 50 percent stake in Spain’s Caixa d’Estalvis de Sabadell’s life and general insurance companies, CaixaSabadell Vida,...
Zurich Closes Turkish Deal; To Acquire 50% Stake in Spain’s Can Soluciones
Apr 1 2008 // Zurich Financial Services Group said it has completed the acquisition of 100 percent of Turkish general insurer TEB Sigorta A.S. from TEB Mali Yatirimlar A.S. (See IJ web site –...
Commerce Insurance Shareholders Approve Sale to Spain’s Mapfre
Feb 15 2008 // Shareolders of The Commerce Group, Inc. voted at a special meeting this week to approve the Oct. 30, 2007 agreement for the acquisition of the company by Mapfre S.A. The company said 88 percent voted to approve the...
Spaniard Suing for Own Car Damage from Hitting, Killing Bicyclist
Feb 1 2008 // A motorist who struck and killed a 17-year-old cyclist in northern Spain — and then sued the boy’s parents over the damage to his Audi — has dropped the lawsuit, the family said Wednesday. Businessman Tomas...
Spain’s Mapfre Sees Commerce as Portal to Expansion in U.S.
Nov 18 2007 // Insurer likes Hispanic market potential as well as solid performance of Mass. personal lines insurer The potential of the Hispanic insurance market is one of the factors attracting Spanish insurer Mapfre to its acquisition...
Spain’s Mapfre to Buy Mass.-Based Commerce Insurance for $2.2 Billion
Oct 30 2007 // Spain’s largest insurer, Mapfre S.A., has agreed to buy the Massachusetts-based personal lines insurer The Commerce Group, Inc. for $2.21 billion in cash in a bold move to expand its presence in the U.S....
S&P Lowers Mapfre Ratings
Jul 5 2007 // Standard & Poor’s Ratings Services has lowered its long-term counterparty credit rating on Spain’s insurance holding company Mapfre S.A. to “A+” from “AA-.” S&P also lowered...
S&P Withdraws Some Ratings on Spain’s Mapfre after Restructuring
Feb 15 2007 // Standard & Poor’s Ratings Services has withdrawn its “AA” long-term counterparty credit and insurer financial strength ratings on Spain’s Mapfre Mutualidad de Seguros y Reaseguros a Prima Fija...
People
Oct 23 2006 // The Allstate Corporation announced a leadership transition, which will occur over the next 18 months. Edward M. Liddy, currently chairman and chief executive officer, plans to step down as CEO at the end of 2006. Thomas J....
Two to Head Logistics Initiative in Aon’s Chicago Office
Sep 27 2006 // Chicago-based Aon Corporation announced the appointment of Barbara Spain as senior vice president and relationship manager, and Matt Reese as senior vice president and originator, for Aon Risk Services. Both will drive the...
Spain’s MAPFRE to Change Corporate Structure, Expand; S&P Comments
Jun 1 2006 // Spain’s largest domestic insurance group, Sistema Mapfre, announced a major structural reorganization, which will eventually result in all of the Group’s activities being concentrated in its publicly traded...
S&P Sees Growth in Spain
Feb 15 2006 // In a recent report- “Insurance Industry Risk Analysis: Spain (Kingdom of)” – Standard & Poor’s predicted further growth in the Spanish economy and indicated that the “current relatively...
Zurich Appoints Lopez to Head Spain
Sep 15 2005 // The Zurich Financial Services Group has announced the appointment of Julian Lopez, 50, as CEO of its business in Spain effective April 1, 2006. He will take over from José Cela, 61, Zurich’s Spanish CEO since...
Best Affirms Ratings of Mapfre Mutualidad and Affiliates
Jun 30 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) of the Spanish insurance group Mapfre Mutualidad de Seguros y Reaseguros, the ultimate parent of the Mapfre Group...
European Nations Offer Lessons in Insuring Catastrophes and Terrorism
Apr 18 2005 // GAO Study Explores Examples of How Public-Private Insurance Partnerships Operate A new U.S. government report indicates that the private U.S. insurance industry would be placed under enormous strain without government...
