GE Capital agrees to buy U.K. reinsurer Eagle Star

Article Abstract:

Eagle Star Reinsurance Co. Ltd., a reinsurance services provider headquartered in the UK, will be acquired by General Electric Capital Services from the former's parent organization, Zurich Financial Services Group, based in Switzerland, for an undisclosed amount. The purchase deal will enable GE Capital to enhance its presence in the UK reinsurance services market, according to Bernhard Fink, head of European operations for the Employers Reinsurance Corp. unit of GE Capital. The transaction is expected to be consummated by the end of 1998.

Comment:

Is set to sell Eagle Star Reinsurance Co to General Electric Capital Services for undisclosed amount

United Kingdom, Acquisitions & mergers, Business Credit Institutions, Commercial finance companies, Zurich Financial Services, General Electric Capital Services Inc., Eagle Star Reinsurance Co. Ltd.

---

Scor supports listing of Coface unit

Article Abstract:

Scor SA may list its export-credit unit Coface, but it will wait until market condition stabilizes. Although the company's chairman, Jacques Blondeau, supports Assurances Generales de France's plans to offer nearly 25% of its stake in Coface on the public market, he said that he does not plan to increase his company's 45% interest in Coface. Scor plans to concentrate on its reinsurance operations. Coface is 45%-owned by Scor, while Assurances Generales owns less than 25%. The rest of Coface is owned by French banks.

Comment:

May list its export-credit unit Coface, but it will wait until market condition stabilizes

France, Special Credit Institutions, Financial institutions, Compagnie d'Assurance Pour Le Commerce Exterieur, Scor SA

---

Munich Re says industry upswing is on the horizon

Article Abstract:

Munich Re AG announced that it has reached a deal on increasing reinsurance rates for renewed business. The company, which will raise rates by 11%, also said that the industry is currently in an "upswing."

Germany, Commodity & service prices, INSURANCE CARRIERS, Analysis, Prices and rates, Insurance industry, Munich Reinsurance Co., Company pricing policy

Similar abstracts:

• Abstracts: A new Taiwanese clone? Trouble in Eden: Japan's economic slump is hitting home in Hawaii. Paradise discounted: Taiwanese investors strike a Hawaiian hotel bargain
• Abstracts: Large kitchen appliances in the United Kingdom. Smoking cessation aids. White goods - market overview
• Abstracts: Peter Moro: an appreciation. Geoffrey Bawa (1919-2003)

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.