Fortis Bank

Making Solvency II stick

Dubbed 'Basel for insurers', operational risk management under the Solvency II regime is still mystifying most in the insurance world. This case study highlights the basic issues to consider.

Fortis Group creates new CRO

Fortis Group has named Kurt De Schepper as chief risk officer (CRO) in a newly created position within the restructured company, subject to approval by the Belgian Banking, Finance and Insurance Commission. As CRO, De Schepper will be a member of the…

CDSs on US banks tighten

The cost of credit protection on US banks fell yesterday, in the week US Treasury secretary Timothy Geithner asserted "the vast majority" of the nation's banks are well-capitalised.

CDSs on Fortis tighten

The cost of credit protection on Dutch and Belgian bank Fortis narrowed this morning, after Fortis chairman Jozef de Mey and BNP Paribas chief executive Baudoin Prot told media the takeover deal between the two banks is still alive.

ABN Amro claims second victim in Fortis

Benelux bank Fortis today revealed a net loss of €14.1 billion for the first nine months of 2008, due mainly to its acquisition of parts of ABN Amro.

CDS spreads tighten as bailout is revised

The cost of protection on some of the world’s largest financial institutions fell yesterday as the US Senate agreed to vote on a revised version of the $700 billion financial rescue plan.