Standard & Poor’s Ratings Services announced that it has lowered its long-term public information-based (‘pi’) counterparty credit and insurer financial strength ratings on Hungary-based Aegon Magyarorszag Altalanos Biztosito Rt (Aegon Hungary) to ‘A-pi’ from ‘Api’. “The rating action solely reflects …
Allianz Hungária announced that it has introduced new features to serve its motor third party liability insurance customers, and has further strengthened its position as the market leader in the country. The company’s announcement noted that Hungarian motorists are demanding …
Lloyd’s Chairman Lord Peter Levene announced that the U.K.’s Financial Services Authority (FSA) has given Lloyd’s authorization to write direct business in eight of the new European Union accession countries (See IJ Website May 3). Lloyd’s said the new licenses …
May first marked the most important expansion of the European Union in its 50 year history, as 10 countries joined the 15 existing members to create an economic block of 455 million people stretching from the Western shores of Ireland …
AXA reported consolidated revenues of Euro 37.5 billion for the first half of 2003. On a comparable basis (adjusted for scope and currency changes), revenues grew by 3.5 percent compared to the same period last year. On a reported basis, …
AXA Konzern AG (Germany), a subsidiary of the French insurance group, is in discussions to sell its business in Austria, AXA Konzern AG (Austria) to a group of shareholders of Vienna-based UNIQA Versicherungen AG. No financial details have been announced. …
While NASCAR and CART may dominate the sport of auto racing in the U.S., the rest of the world watches Formula 1. This no doubt influenced Allianz AG to sponsor the BMW Williams F1 Team during the 2002 season. The …
The conversion of illegal funds into legitimate accounts and investments, commonly known as “money laundering,” is a growth business. According to the International MonetaryFund, money laundering could account for 2 percent of global Gross Domestic Product. Based on 1996 figures, …
Britain’s CGNU revealed plans to expand in Eastern Europe and India with the announcement that it would purchase Mebit, Hungary’s sixth largest life insurer, and would launch a mutual fund subsidiary in India in conjunction with its life insurance operations …
The latest sigma study from Swiss Re provides a detailed overview of Central and Eastern European insurance markets with an analysis of the latest developments in life and non-life insurance in 27 countries, including the CIS, and on progress among …
