Both the headline and certain portions of the text in the article that appeared yesterday, October 29, incorrectly identified the NAII as having approved inreon’s use of ACORD standards. This was not correct. The NAII has no connection with either …
Willis Group Holdings Limited, the world’s third largest global insurance broker, announced third quarter operating revenues before taxes and interest of $64 million, compared to a $72 million loss in the same period last year. Net profits for the period …
A fire which broke out in the International Trade Center Building in Ho Chi Min City (ex-Saigon) Tuesday afternoon has claimed the lives of at least 59 people, and possibly many more according to newspaper reports. Offices of American International …
ACE Limited reported net operating income of $158 million for the quarter ended September 30, 2002 compared with a net operating loss of $390 million for the same quarter in 2001. It also announced a net loss for the quarter …
Swiss Re announced that it has resolved its dispute with Lincoln National Corporation related to Swiss Re’s December 2001 acquisition of Lincoln Re. Under the terms of the settlement Lincoln will pay Swiss Re $295 million in cash. The company …
France’s SCOR Group, the world’s 8th largest reinsurer, issued a profit warning today, stating that: “a net loss estimated at around EUR 250 million [$246 million] is expected for the full year 2002.” The group recorded a $20.65 million profit …
Bermuda-based Allied World Assurance Holdings, Ltd. announced that the company has been granted a license to operate in Ireland and has commenced business with the opening of a new office in Dublin. The bulletin explained that Dublin will serve as …
Germany’s newly reelected government has reportedly asked the European Commission (EC) for permission to extend emergency terrorist risk coverage to the country’s airlines until the end of the year. The EC announced last August, when it granted a further extension …
One of Bermuda’s newest insurers, Platinum Underwriters Holdings Ltd., finally succeeded in bringing its long delayed initial public share offering to market, with an opening price of $23.50 per share for the 30.04 million it’s selling, which will raise $675.9 …
inreon, the Internet-based reinsurance trading platform, established by Swiss Re and Munich Re, announced that it has received certification for its implementation of data standards for facultative reinsurance placement from ACORD, the New York-based industry standards body. This enables members …
