Norwegian insurance group Storebrand said Wednesday it would not pay dividends to its shareholders despite returning to profit last year following massive losses in 2008. The company made a net profit of 928 million kroner (116 million euros, 159 million dollars) in 2009 following a loss of 2.23 billion kroner in 2008. “In a year characterised by major market fluctuations, Storebrand delivered a good result for its customers and owners,” chief executive Idar Kreutzer was quoted as saying in the earnings report. Storebrand said it would...  Lire la suite

Greek authorities said Monday there were signs that the militant Revolutionary Struggle group was behind an overnight bombing of the headquarters of the country’s leading insurance company. The powerful blast struck the city centre offices of the Greek National Bank-owned Ethniki Asfalistiki late Sunday, causing no casualties but significant fire damage to the building’s ground floor. There was no immediate claim of responsibility for the attack, which came 15 minutes after a telephoned warning to a Greek newspaper. But counterterrorism...  Lire la suite

The European Commission Monday cleared a Lithuanian scheme to provide short-term export credit insurance to companies struggling to get coverage in the private insurance market. “The Lithuanian scheme provides export firms with the insurance cover they need and, at the same time, the top-up mechanism and the level of premium ensure that private market players can’t be crowded out and thus distortions of competition are minimized,” said Competition Commissioner Neelie Kroes. Under the scheme, Lithuanian state-owned company INVEGA...  Lire la suite

French rocker Johnny Hallyday, recovering from surgery in Los Angeles, will not be fit for his scheduled farewell tour next month, the singer’s insurer was quoted as saying on Tuesday. “It is now certain that the first concerts in 2010 will not take place,” Francois Chiesa, a director with Pont Neuf insurance brokers, told the Internet edition of the Le Point news magazine. When asked when Hallyday’s tour would go ahead, he replied: “I don’t know…we will see.” Dr Francois Zuccarelli, one of the two...  Lire la suite

Austrian inflation rose in October to 0.3 percent on a 12-month basis from 0.1 percent in September, pushed by increased housing and insurance prices, official data showed on Thursday. On a month-on-month basis, the Austrian consumer price index (CPI) also rose in October, by 0.1 percent from September, the national statistics office Statistik Austria said in a statement. “Overall inflation was determined again by fuel and heating oil prices, which experienced significant drops over the last year,” Statistik Austria said. Education and...  Lire la suite