Coface, the Paris-based business specialist, has issued a bulletin, which notes that the “credit crisis is spreading throughout Europe amid a deepening financial crisis, leading to a sudden squeeze in banking credit, plunging confidence levels, and a slowdown in activity.” …
Standard & Poor’s Ratings Services has affirmed its ‘AA-‘ long-term counterparty credit and insurer financial strength ratings on German reinsurer Hannover Rueckversicherung AG and its core entities – Hannover Re Bermuda Ltd., E+S Rueckversicherungs AG, E+S Reinsurance (Ireland) Ltd., Hannover …
The Independent Insurance Agents of North Carolina elected Neil T. Annas as the association’s new President for the 2008-2009 term. Annas, president of Granite Insurance Agency Inc. in Granite Falls, NC, was elected during the 111th IIANC Annual Convention in …
The Federation of European Risk Management Associations (FERMA) has issued a bulletin welcoming the vote by the European Parliament on October 7, which endorsed a “vast majority of the special amendments regarding the special status of captive insurance and reinsurance …
Standard & Poor’s Ratings Services has revised its outlook on Sedgwick CMS Holdings Inc. to stable from positive, and has affirmed its ‘B+’ counterparty credit rating on Sedgwick. “The revised outlook reflects Sedgwick’s consistently weak interest coverage ratio and burdensome …
European governments struggled on Monday to shelter banks and bank depositors from a global financial crisis that is eroding confidence, endangering the economy and challenging their ability to respond as one. Germany promised blanket deposit protection for bank savers, prompting …
Cayman Islands-based Greenlight Capital Re announced the election of Bryan Murphy to the company’s Board of Directors. Murphy, 63, has over 40 years of experience in the insurance and reinsurance business and has held senior executive positions in companies located …
Bermuda’s XL Capital Ltd. announced that it has appointed Fiona Muldoon as Senior Vice President, Global Treasurer. She previously served as Senior Vice President, Corporate Strategy, Development and Planning Officer for the Company. In her new role, she will report …
Zurich Financial Services Group announced that it has named Thomas Buberl, a 35-year old German citizen, as the new CEO of Zurich Switzerland, effective January 1, 2009. He will join Zurich on November 1, 2008, and, after a two month …
The American Institute for CPCU honored 757 new graduates of the Chartered Property Casualty Underwriter (CPCU program at the 2008 CPCU conferment ceremony in Philadelphia, Pa., the birthplace of the CPCU designation. The 2008 class brings the number of CPCU …
