Stuart Collins (mailto:scollins@BIEurope.com)
LONDON—The London office of Oldwick, New Jersey-based rating agency A.M. Best Co. Inc. has affirmed the A financial strength ratings of German industrial insurers HDI Industrie Versicherung A.G.—based in Hanover—and Gerling-Konzern Allgemeine Versicherung A.G.—based in Cologne
LONDON—The U.K’s Department for Environment, Food And Rural Affairs has launched a review into last month’s severe flooding. The “Lessons Learned Review” will look at how the recent floods were managed and responded to by the Environment Agency, local authorities, the emergency services and...
MUNICH, Germany — Allianz S.E. has increased its holding in Assurances Generales de France S.A. to 100%, having completed the “squeeze-out procedure” of the last shareholders in its Paris-based subsidiary. Shares in the French insurance group will no longer listed on the Paris stock exchange...
LONDON—The U.K. Parliament has approved an order to reform the Financial Services Act 2000, the legislation that empowered the Financial Services Authority and governs the country’s financial market regulation. The order is intended to reduce the burden of regulation on U.K. insurers, brokers...
PARIS—Reinsurer SCOR S.A. has increased its equity holding in its Swiss rival, Converium Holding A.G. to 86.07%. The increase in SCOR’s holding in Converium from 33% followed an initial offer period, which closed on July 9 and was part of the Paris-based company’s ongoing acquisition of...
LONDON—Marsh Ltd., the London-based arm of New York-based insurance brokerage Marsh Inc., has launched a white paper in which it advises its corporate clients on the course of action they should take to arrive at optimal risk financing arrangements. “Optimising Return on Capital Employed on...
LONDON—Munich, Germany-based reinsurance and insurance group, Munich Reinsurance Co. has acquired London-based broker and underwriting managing general agent Bell & Clements Ltd. The company, which acts as a Lloyd’s of London broker, is a managing general agent in the United Kingdom and the...
LONDON—JLT Corporate Risks Ltd., part of Jardine Lloyd Thompson Group P.L.C. has reached an agreement to acquire specialist broker Pavilion Insurance Network P.L.C. for £6.62 million ($13 million) in cash. The offer price represents a premium of approximately 28% to the closing price of 9.375...
LONDON—Ahead of the release of Lloyd’s of London’s 2006 results on Thursday, Fitch Ratings has upgraded Lloyd's financial strength rating by one notch to A+. The rating outlook was said to be stable. The upgrade followed confirmation on Tuesday that Equitas, which reinsures the pre-1993...
