Customer & Credit Risks top Agendas for European Business, Says Marsh
New research, conducted by Marsh, has found that senior executives in Europe’s leading organizations are most concerned about customer-related risks and access to credit, as they plan their recovery...
View ArticleBermuda Concludes Tax Information Agreement with Belgium
Bermuda’s Minister of Finance, the Hon. Paula A. Cox, announced that Bermuda had concluded negotiations of a bilateral agreement with Belgium that provide for a full exchange of information on criminal...
View ArticleRatings Recap: WUEBA (Chartis), Solid, West of England Club, Coface, InterGlobal
A.M. Best Co. has withdrawn the financial strength rating (FSR) of ‘B++’ (Good) and issuer credit rating (ICR) of “bbb” of German insurer Wuerttembergische und Badische Versicherungs-AG (WUEBA) and...
View ArticleU.N. Climate Talks End ‘With a Bare Minimum’ Agreement
U.N. climate talks ended with a bare-minimum agreement Saturday, Dec.19, when delegates “noted” an accord struck by the United States, China and other emerging powers that falls far short of the...
View ArticleBest Affirms RSA Group’s ‘A’ Ratings
A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of the main UK operating subsidiaries of the UK’s RSA Insurance Group plc. Best...
View ArticleEMEA Commercial Insurance Market ‘Stable’ Says Marsh Report
A new report from Marsh has concluded that “despite the global recession, the commercial insurance market remained stable in the second half of 2009. This provided many organizations across Europe, the...
View Article‘Shock and Awe’ Halts Euro Market Slide – for Now
A $1 trillion global emergency rescue package to stabilize the euro reversed the slide in world financial markets on Monday but left longer-term questions about whether Europe’s weakest economies can...
View ArticleING’s Good Results Reduce Pressure to Sell Insurance Arm
A strong start to the year has taken enough pressure off Dutch bancassurer ING Group to allow it to substantially delay or even potentially scrap the expected 2011 flotation of its insurance business....
View ArticleBermuda Signs Tax Accord with Italy
Bermuda’s Minister of Finance, the Hon. Paula A. Cox, announced that Bermuda has concluded negotiations for a bilateral agreement with the Italian Republic that will, “upon signing later this year,...
View ArticleEU Faces a Battle in Achieving Closer Economic Union
Agreeing on a $1 trillion safety net may prove the easy part of saving the euro now the European Union’s leaders are turning to the divisive issue of tightening economic policy coordination. The...
View ArticleBest Upgrades Markel International’s Issuer Credit Rating
A.M. Best Co. has upgraded the issuer credit rating to “a+” from “a” and affirmed the financial strength rating of ‘A’ (Excellent) of UK-based Markel International Insurance Company Limited (MIICL),...
View ArticleRough Road for Trucking in the New Economy
Rising Taxes, Inflation Will Force Insurance Market to a ‘Déjà vu All Over Again’ The insurance industry has a long history for cyclical price adjusting, featuring long periods of marginal to...
View ArticleRatings Recap: Skandia, Al Fajer Re
A.M. Best Co. has affirmed the financial strength rating of ‘A ‘(Excellent) and issuer credit ratings of “a” of Sweden’s Skandia Insurance Company Ltd. and Skandia Life Assurance Company Limited...
View ArticleRatings Roundup: United (Aon), Fairfax, Sirius
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit ratings of “a-” of Cayman Islands-based United Insurance Company and its subsidiary, United Re (Europe)...
View ArticleU.S. Auto Fatalities Down But Safety Efforts Lag
The United States is lagging behind nearly every other high-income country in reducing annual traffic fatalities, said a report released this week by a U.S. government research panel. There’s some good...
View ArticleFeds Urges All States to Require Motorcycle Helmets
Federal safety officials are calling on states to require all motorcycle riders to wear helmets, citing a surge in fatalities since the late 1990s. Motorcycle deaths have increased over the last decade...
View ArticleMarkets, Partners Relieved as EU, Ireland Form Rescue Plan
Financial markets rallied slightly and European Union partners voiced relief on Monday after Ireland agreed in principle on a three-year bailout package with the EU and the IMF to salvage its shattered...
View ArticleIreland, EU Conclude $113 Billion Bailout
Negotiators for the Irish government and the European Union put the finishing touches on an €85 billion [$113 billion] bailout for the beleaguered country over the weekend. The agreement follows...
View ArticleRMS Analyzes Sweden Bomb Attack
On Saturday, December 11, a car bomb detonated in Stockholm, Sweden, in the busy shopping center of Drottninggatan. Shortly after, another blast occurred approximately 1,000 feet away. Both bombs were...
View ArticleFact or Fiction? Insurance Tidbits of Known and Little-Known Information
Have you ever wondered what big events helped shape regulation of the current U.S. insurance industry? Or if drivers of certain cars have more risk? What about the most attractive insurance job in the...
View ArticleEurope’s PERILS Expands Coverage to Norway, Sweden
PERILS, the independent Zurich-based company that provides industry-wide catastrophe insurance data, announced that it has extended its market coverage to include Norway and Sweden. The two Nordic...
View ArticleBest Affirms Sirius International Ratings
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A” (Excellent) and the issuer credit rating (ICR) of “a” of Sirius International Insurance Corporation...
View ArticleAccenture to Team with SAS Institute for Sweden’s Folksam Solvency II Regs
Global management consulting, technology services and outsourcing company Accenture announced that it will team with SAS Institute “to implement the SAS Risk Management for Insurance solution...
View ArticleBest Affirms Sirius International Group’s Ratings; Outlook Stable
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a” of Sweden’s Sirius International Insurance...
View ArticleNew Land, but also Costs, as Nordic Nations Rise from the Sea
A Stone Age camp that used to be by the shore is now 200 km (125 miles) from the Baltic Sea. Sheep graze on what was the seabed in the 15th century, and Sweden’s port of Lulea risks getting too …
View ArticleAllianz Global Specialty Targets Nordic Region with Branch in Stockholm
Allianz Global Corporate & Specialty AG (AGCS) has opened its newest branch in Stockholm, Sweden, further expanding its services within the Nordic Region. Since 2009, AGCS has been active in Sweden...
View ArticleICA Bank to Write Non-Life Business in Sweden via New Subsidiary
ICA Bank has received permission to conduct insurance business from the Swedish Financial Supervisory Authority. ICA Försäkring AB, a newly formed subsidiary with its own management and board, will...
View ArticleACE Launches New Corporate Travel Proposition in Sweden
ACE Group has launched in Sweden its new corporate travel proposition ACE Business Class, as it continues to enhance its multinational offering for companies in the Nordic region. ACE Business Class...
View ArticleViolating Swedish Nuclear Drone Ban Will Land You in Jail, Void Insurance Cover
If you’re planning a drone fly-by at any of Sweden’s reactors, think again. The Nordic region’s biggest producer of atomic energy will from Oct. 15 add nuclear plants to a list of sites including...
View ArticlePosing as Islamists, Russian Hackers Take Aim at Sweden
Since February, a mysterious hacker group calling itself Anonymous Sudan has targeted dozens of Swedish airports, hospitals and banks with distributed denial-of-service attacks, ostensibly in response...
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