MOSCOW—Russia's state-controlled foreign trade bank, Vneshtorgbank (VTB), plans to buyout Russian insurer OJSC Rosno's stake in joint venture VTB-Rosno by July 1, according to Russian news accounts. VTB-Rosno provides corporate and retail insurance services, as well as underwriting VTB...
Richard Miller (mailto:rmiller@bieurope.com)
VIENNA, Austria—Wiener Städtische Versicherung A.G. (Vienna Insurance Group) will merge its Bulgarian operations into one brand in the future called Bulstrad Life and Bulstrad Non-Life, the company announced last week. At present, Vienna Insurance Group has majority stakes through TBIH...
BRUSSELS, Belgium—Marie-Gemma Dequae, group risk and insurance manager for N.V. Bekaert S.A., was re-elected Wednesday to a second term as president of the Federation of European Risk Management Assns. At the FERMA board meeting in Brussels, Belgium, directors elected Franck Baron, director of...
GENEVA, Switzerland—The Insurance Working Group of the Geneva-based United Nations Environment Programme Finance Initiative issued Wednesday its inaugural report which aims to raise awareness on global sustainability issues and the role insurers can play. The 64-page report, titled "Insuring...
LONDON—While German insurers have benefited from a generally benign market environment, ratings agency Standard & Poor's Corp. believes changes in the industry will test the future credit strength of many industry players. The analysis is contained in a new report titled "Insurance Industry...
BERLIN, Germany— Germany's insurance association has formally unveiled a nonbinding insurance model to help insurers create products to cover new exposures under the European Union's Environmental Liability Directive. The Gesamtverband der Deutschen Versicherungswirtschaft e.V. in Berlin...
LONDON—Moody’s Investors Service Ltd. has placed the Baa3 insurance financial strength rating of Ceska Pojistovna A.S., the largest insurer in the Czech Republic, under review for possible upgrade, Moody’s said Monday. The decision follows the announcement last week of a proposed joint venture...
VIENNA, Austria— – Italy's Assicurazioni Generali S.p.A. is reorganizing its central and eastern European operations through a joint venture with PPF Group N.V., which owns Ceska Pojistovna A.S., the largest life and non-life insurance group in the Czech Republic. The Prague-based joint...
VIENNA, Austria— UNIQA Group Austria reported Thursday a 31% increase in its 2006 net profit, to €175.1 million, due largely to premium growth in its Eastern and Southeastern European operations. Industrial insurance lines remains a small portion of UNIQA's overall portfolio, amounting to less...
LONDON— Marsh Ltd. has launched a new liability product for the power and utility industry, the brokerage announced Tuesday. The Marsh Utility Liability facility is designed to provide cover for power and utility clients based outside the United States, the company said. The facility will...
