View more on these topics

Swiss Re on neg watch until GEIS merger completes

Swiss Re and its core operating companies will remain on Standard & Poor’s CreditWatch with negative implications, where it was placed on November 18, 2005 following the plans to acquire GE Insurance Solutions.

The CreditWatch placement will be resolved in June upon the completion of the acquisition of GEIS, which is still pending regulatory approval.

The risks of merging two firms of the size and complexity of GEIS are offset by Swiss Re’s track record of successful transatlantic acquisitions and the advanced planning already in place.

Once the transaction goes through, it is expected that the rating will be lowered to AA- with a stable outlook.

Recommended

Red letter ruling paves way for time-bar cases

A ruling in a small claims court has effectively given the green light for time-barred endowment complainants to take their cases to court after ruling that a red letter provided insufficient warning to a policyholder. In March, a judge at Reigate county court ruled that endowment policyholder Vincent Cunningham, who was time-barred under FOS rules, […]

Towry Law sells GI and healthcare arms

Towry Law JS&P Group has sold its general insurance and healthcare arm, Towry Law Insurance Brokers to Broker Network Holdings and a consortium of TLIB directors for £12.5m.Towry Law JS&P Group says the GI arm is not core to its business model and says it will now focus on offering independent financial and wealth management […]

Burn-Anderson multi-tie flops but profits soar

Burns-Anderson has posted a 500 per cent increase in profits but says take-up of its new multi-tie proposition has been negligible. The Bristolnetwork says it made a profit of 325,714 in 2005, up from 52,854 the previous year. Chief executive Mike Hughes says the company will now begin to concentrate on developing its wrap proposition […]

Frontiers for Skandia platforms

Credit Suisse European Frontiers fund has been added to Skandia’s life, pension and fund supermarket platforms.

Pensions Dashboards around the World

Steve Webb’s latest policy paper British savers risk being left in the ‘slow lane’ unless the UK Government takes a more active role in ensuring the successful delivery of a Pensions Dashboard. The report, ‘Pensions Dashboards around the World’, coincided with a major conference that was held on Monday 16 May and brought together experts […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com