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ACE South Africa awarded AA- credit rating by Global Credit Ratings (GCR)

18 October 2013 | Chubb Insurance SA (formerly ACE)

Insurance South Africa (ACE SA) has been upgraded to an AA- (ZA) credit rating by the Global Credit Rating (GCR) Company. The outlook for the rating is stable. This rating refers directly to the company’s national scales claim paying ability. In making its ratings decision, GCR welcomed the financial support that ACE SA receives from its parent company as well as its clear relevance to the ACE Group’s global strategy, stating that:

Hannover Re incurs disproportionately low losses from hailstorm Andreas

17 October 2013 | General

A series of particularly severe local hailstorms caused considerable losses in Germany over the summer months. The most costly of these for the insurance and reinsurance industry was hailstorm Andreas; the market loss is estimated to be at least EUR 2.5 billion.

Swiss Re entered into an agreement to invest up to USD 425 million in FWD Group

16 October 2013 | Swiss Re

Swiss Re's investment in FWD Group (FWD) consists of an initial investment for a 12.3% stake in FWD and a commitment for additional investments to fund FWD's planned expansion across Asia.

Sanlam repositions SA investment businesses and puts new leadership in place

15 October 2013 | Sanlam

: Sanlam Investments (SI), the investment arm of the JSE-listed Sanlam Group, announced on Friday that it would reposition its South African investment businesses in a bid to simplify its offering and expertly cater to all client needs. The move is part of the company’s response to the Treating Customers Fairly regulations and the many changes facing the investment industry globally, including a low-return investment environment and changing customer behaviour.

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