Willis Group Holdings announced that it has “further enhanced its offering in the executive risk market by agreeing to acquire, through its subsidiary Willis Limited, PPH Limited and its subsidiary Prime Professions Limited (together referred to as Prime Professions),” a …
ACE Limited announced that it has completed the acquisition of Fianzas Monterrey in Mexico from New York Life Insurance Company for approximately $293 million in cash. The bulletin said: “Mexico City-based Fianzas Monterrey is the nation’s second-largest surety lines writer …
World markets have reacted calmly to the twists and turns of Cyprus’s financial rescue in the last fortnight but many investors fear the economic fallout is yet to come. They have sold European assets, rather than make a global dash …
In a move that is certainly not an April Fool’s Day joke, the Financial Services Authority (FSA), which has been responsible for regulating the UK’s financial services industry since 1997, including insurance regulation, has ceased to exist. It has been …
Germany’s Allianz SE has partnered with Borealis Infrastructure, the infrastructure investment arm of the Ontario Municipal Employees Retirement System (OMERS), to acquire Czech Republic pipeline firm N4G. Each will own a 50 percent stake in the company. Allianz explained that …
When Argentina froze access to bank deposits in December 2001, the popular backlash was so severe its president and his successor had resigned within a month. Cyprus, where banks reopened on Thursday after being closed for nearly two weeks, has …
A.M. Best Asia-Pacific Limited has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Australia’s Ansvar Insurance Limited, both with stable outlooks. The rating affirmations reflect Ansvar’s “strong risk-adjusted capitalization, initiatives to de-risk its …
A.M. Best Europe – Rating Services Limited has commented on the recent announcement from Germany’s Allianz SE that it is entering into a long-term partnership with Turkey’s Yapi Kredi and is acquiring Yapi Kredi Sigorta. Allianz SE currently has a …
A.M. Best Co. has affirmed the issuer credit rating (ICR) of “bbb” and the unsecured debt and preferred equity ratings of Toronto-based Fairfax Financial Holdings Limited, and has also affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and ICRs …
Catastrophe modeling firm AIR Worldwide reports that a “magnitude 6.0 earthquake struck central Taiwan on March 27, 2013, at 10:03 a.m. local time (02:03:20 UTC). With its epicenter located at 23.840° North latitude and 121.135° East longitude, according to USGS, …
