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Zurich Financial Quits RBS Insurance Auction

By Steve Slater and Sven Egenter LONDON/ZURICH (Reuters UK) - Zurich Financial Services ZURN pulled out of the auction for Royal Bank of Scotland's RBS insurance business on Thursday, dealing a major blow to the bank's sale plan. Zurich had been considered the frontrunner to buy...

Tags: Bank, Zurich, Auction, Zurich Financial, Insurance, Financial Planning, Allstate Corp., Travelers Companies Inc.

News items 2008-07-10

Additional Resources

Geomagic Makes Euro 2008 Players Larger Than Life in Zurich Train Station

RESEARCH TRIANGLE PARK, N.C. -- For fans throughout Europe, the image of star soccer players is larger than life. With the help of Geomagic digital reconstruction software, Adidas transformed image into reality. Visitors to Zurich's central rail station during the final stages of the Euro 2008 soccer championship...

Articles 2008-07-16

Nokia completes acquisition of Plazes AG

TELECOMWORLDWIRE-16 July 2008-Nokia completes acquisition of Plazes AGC1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com Finnish telecomms solutions provider Nokia (NYSE: NOK) (OMX Helsinki: NOK1V) said on Tuesday (15 July) that it has completed the acquisition of the Swiss-German start-up Plazes AG. Plazes, headquartered in Zurich, Switzerland with a...

Articles 2008-07-16

Zurich launches technology-focused Web site to support distributors in working with fast-moving industry

SCHAUMBURG, Ill. -- Zurich in North America today launched a dynamic, distributor-focused Web site (www.techinsurance.zurichna.com). The site serves as a central source for the latest news, in-depth information and educational resources about the profitable insurance business segment of serving technology "builders." The user-friendly navigation enables distributors to access resources and...

Articles 2008-07-16

Nokia completes acquisition of Plazes AG

NORDIC BUSINESS REPORT-16 July 2008-Nokia completes acquisition of Plazes AGC1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com Finnish telecomms solutions provider Nokia (NYSE: NOK) (OMX Helsinki: NOK1V) said on Tuesday (15 July) that it has completed the acquisition of the Swiss-German start-up Plazes AG. Plazes, headquartered in Zurich, Switzerland...

Articles 2008-07-16

Global stocks dive on scepticism over US mortgage rescues

LONDON AFP — World equity markets fell heavily again on Tuesday on scepticism that a dramatic US government rescue of two mortgage giants had put a stop to a financial crisis. European equities sank lower after more steep losses on Wall Street and in Asia, despite an exceptional...

Articles 2008-07-15

A.M. Best Comments on Zurich Financial Services' 50% Share Acquisitions of Life and Non Life of Banco Sabadell

OLDWICK, N.J. -- A.M. Best Co. has commented that the ratings of Zurich Financial Services ZFS Switzerland and its rated operating subsidiaries remain unchanged following ZFS' announcement of its intention to acquire a 50% share of BanSabadell Vida SA de Seguros y Reaseguros BanSabadell Vida Spain, BanSabadell Pensiones E.G.F.P., S.A....

Articles 2008-07-15

INFICON Announces Significant New HAPSITE Orders from China

ZURICH, Switzerland & SYRACUSE, N.Y. -- INFICON (SWX Swiss Exchange: IFCN), a global leader in advanced technologies for emergency response and security, and for the refrigeration/air conditioning, semiconductor, solar, vacuum coating, and other industries, has received significant new orders for its HAPSITE Chemical Identification System for agencies of the People's...

Articles 2008-07-15

GSK signs 3bln Swiss franc insomnia research deal with Actelion

ZURICH AFP — British pharmaceutical giant GlaxoSmithKline GSK said Monday it had signed a deal with Swiss peer Actelion worth a potential 3.3 billion Swiss francs (2.0 billion euros) for insomnia research. Under the deal, GSK will contribute 40 percent of the costs of researching and commercialising Actelion's...

Articles 2008-07-14

Allstate leads RBSi bids

Allstate, the US insurance giant, has brought in investment bank JPMorgan, alongside advisers Lehman Brothers, to arrange the financing for its estimated 7bn tilt at Royal Bank of Scotland's insurance arm RBSi. Allstate is thought to be the front-runner in an auction for the unit, with Zurich...

Articles 2008-07-13

Sidwell half-debut

FCZURICH 2 ASTON VILLA 1 STEVE SIDWELL, Aston Villa's new pounds 5m midfielder, made a low- key debut as Martin O'Neill's side were beaten 2-1 by FC Zurich. Sidwell only arrived the night before the game, after completing...

Articles 2008-07-13

RBS in talks to sell Australasian units to NAB for A$1bn

Royal Bank of Scotland is in talks with National Australia Bank to sell ABN Amro's corporate and investment banking operations in Australia and New Zealand. Australia's biggest bank said yesterday that it was considering buying the businesses but that there was no certainty of a deal. RBS...

Articles 2008-07-12

ABB wins USD28m turnkey power contract in Turkey

NORDIC BUSINESS REPORT-11 July 2008-ABB wins USD28m turnkey power contract in TurkeyC1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com Swiss-Swedish power and automation technology group ABB (OMX Stockholm: ABB) (NYSE: ABB) (SWX: ABBN) said on Friday (11 July) that it has won a USD28m power supply equipment contract in Turkey. ...

Articles 2008-07-11

Zurich Financial says it will buy Sabadell's insurance business

ZURICH AFP — Swiss insurer Zurich Financial Services Group said on Friday it had agreed to pay up to 900 million euros for half of the insurance and pension operations of Spanish bank Banco Sabadell SA. The deal, worth the equivalent of 1.42 billion dollars, would propel Zurich...

Articles 2008-07-11

NHL, Russian league reach peace deal

ZURICH, Switzerland -- The NHL reached an agreement with a new Russian hockey league Thursday that temporarily ends the threat of players being lured away by big-money offers. The pact to respect player contracts across all borders followed offers made last month by teams in Russia's Continental...

Articles 2008-07-11

Novartis eyes buy-out of biopharma firm Speedel

ZURICH AFP — Swiss pharmaceutical giant Novartis said Thursday it had boosted its stake in biopharmaceutical firm Speedel by 51.7 percent and aimed to buy it out completely for 907 million Swiss francs (560 millions euros, 882 million dollars). Novartis added the 51.7 percent to its existing 9.7...

Articles 2008-07-10

Lithium Technology Corp. Announces Memo of Understanding With EnerSys

PLYMOUTH MEETING, Pa., July 10 /PRNewswire-FirstCall/ -- Lithium Technology Corporation LTC announced today that it has signed a memorandum of understanding MOU with EnerSys , one of the world's largest and most reputable battery companies. The MOU calls for the establishment of a close relationship on the advancement...

Articles 2008-07-10

Zurich's statement regarding federal-level legislative developments July 9-10, 2008 for North American commercial business

SCHAUMBURG, Ill. -- As one of the world's leading global insurers, Zurich is encouraged by the recent action taken by the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises ["Subcommittee"] in support of the proposed Office of Insurance Information. Today's international economic interdependencies and the growth...

Articles 2008-07-10

Dennis F. Kerrigan Jr. Named Zurich North America Commercial General Counsel

SCHAUMBURG, Ill. -- Zurich, one of the world's largest property-casualty insurance companies, today named Dennis F. Kerrigan Jr. as general counsel for its North America Commercial business division. "Dennis is an accomplished litigation and dispute-resolution attorney with almost 20 years of trial experience in state and federal courts...

Articles 2008-07-10

Diva.AG Puts the Very Best Filmed Entertainment at the Fingertips of Consumers by Distributing Them to Leading Digital Retailers Globally

ZURICH, Switzerland -- Diva.AG is one of the world's leading digital distribution solutions for award winning independent movies and true classics. Traditionally a Diva (Greek for "divine one") is a woman of rare, outstanding talent, a true goddess of the silver screen. To us Diva stands for Digital...

Articles 2008-07-09