Insurance news weekly with Clara Hughes from Fitch Ratings and Jesus Carmona, Axa Travel CEO

Описание: In this week's top news, Italian insurance company Generali has been downgraded by Fitch Ratings, then Clara Hughes from Fitch Ratings comments on how the US reacts to solvency II measures and finally Jesus Carmona, Axa Travel's CEO, highlights his company's expectations for 2012.
Generali's outlook has been revised by Fitch Ratings to negative from stable. It is important to note that the insurer's rating is closely linked to that of the Italian sovereign rating. Indeed, Generali holds 51 billion euros of Italian government bonds, and if Italy's rating was to be revised then so should Generali's.
Clara Hughes, Director at Fitch Ratings outlines for News Insurances how the US reacts to the Solvency II measures. The difficulty is set for companies who do business in the US or the Europe and have a mother company in the other. Solvency regimes must be respected where the business is actually done. There should be a framework for equivalency between the two regimes.
Jesus Carmona, Axa Travel's CEO, will focus on developing the Axa Travel Insurance business unit model in 2012 and developing new business in the emerging markets. The aim is to become one of the largest players in these markets in the next 3 to 4 years.

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