Aegon, the Netherlands-based insurer and financial services giant, confirmed that it is “in discussions with its major shareholder Vereniging AEGON (the Association) about a financial restructuring which may result in a realignment of the Association’s interest in the company.” The …
Standard & Poor’s announced that it has removed its triple-‘A’ long-term counterparty credit and insurer financial strength ratings on Munich Re and its core subsidiaries from CreditWatch. The rating agency place the Munich Re’s ratings on CreditWatch last July following …
Thunderstorms of unprecedented intensity struck Southern France Sunday night and Monday, causing widespread flooding and knocking out road and rail transportation throughout the region. 16 people were killed as a direct result of the deluge, and another 18 are reported …
Bermuda-based Allied World Assurance Company (AWAC) announced that Scott Carmilani has been named to the position of Senior Underwriting Officer and that Leon L. Bascome has been appointed to the position of Assistant VP, General Casualty. Commenting on Carmilani’s appointment …
South Korea’s property/casualty insurers have estimated that they will pay 156.3 billion won (around $130 million) in claims for damages caused by typhoon Rusa, which struck the country last week (See IJ Website Sept. 2) The storm, one of the …
AXA announced that French Regulatory Authorities (the “COB”) had given the company the green light to issue up to 35 million new shares to more than 100,000 employees in 29 countries. The shares will be priced at 80 percent of …
As the 16,000 plus members of Lloyd’s began preparing to cast their votes for or against the reform proposals at a special meeting on Thursday, Sept. 12 (See IJ Website Aug. 30, Sept.3) Chairman Sax Riley made what Lloyd’s called …
Bermuda’s PartnerRe upped its earlier loss estimate from claims due to the recent floods in Eastern Europe from around $100 million to between $110 and $120 million. Swiss-based Converium indicated its pretax losses would be in the $50 million range. …
Inreon, the Internet trading platform launched by Munich Re and Swiss Re, announced that it has expanded its scope to offer reinsurance buyers facultative liability cover via the platform from a panel of blue chip reinsurers. It also announced plans …
Ireland’s FINEOS Corp., which conducts business in the U.S. from Portland Maine, announced that it has agreed to supply Delta Lloyd in the Netherlands, a division of the U.K. ‘s AVIVA plc (formerly CGNU), with its “multi-channel intake and claims …
