latest news releases from the newsroom
American Courts Equipped with ReadSoft's FORMS Product
STOCKHOLM, Sweden, Aug. 14, 2002 (PRIMEZONE) -- Judicial Systems, Inc. has partnered with ReadSoft to provide courts with a seamless data and image capturing solution. When Judicial Systems installed their latest site using the ReadSoft FORMS-product with their Jury 2000Plus(TM) system, they generated software license revenues of over US $125,000 for ReadSoft and will double this amount within the next year.
Skandia Supports Capital Contribution to If
STOCKHOLM, Sweden, Aug. 14, 2002 (PRIMEZONE) -- Skandia supports the capital contribution of SEK 1.6 billion that the board of If has requested from its owners. For Skandia's part this entails SEK 193.6 million in increased share capital and SEK 116.6 million in the form of a subordinated loan.
If P&C Insurance
If P&C Insurance: Capital Contribution from Owners
SOLNA, Sweden, Aug. 14, 2002 (PRIMEZONE) -- The owners of If have today committed to inject in total the equivalent of SEK 1.6 billion into If, whereof SEK 1.0 billion as equity capital to If P&C Holding Ltd. (publ) and the equivalent of SEK 0.6 billion as subordinated debt to If P&C Insurance Company Ltd.
Credit Suisse Group
Credit Suisse Group Announces Second Quarter and First Half Results 2002
ZURICH, Switzerland, Aug. 14, 2002 (PRIMEZONE) -- Credit Suisse Group (NYSE:CSR) reported a net loss of CHF 579 million and a net operating loss, excluding the amortization of acquired intangible assets and goodwill, of CHF 285 million in the second quarter of 2002. This unsatisfactory result is primarily attributable to the extremely low investment income in the insurance businesses due to the significant deterioration in the equity markets, which had a negative impact of approximately CHF 1.5 billion on the Group's result compared to the second quarter of 2001. Private banking and Swiss corporate and retail banking recorded solid earnings given the challenging market conditions, and investment banking reported continued improvements in costs and revenues. The Group remains adequately capitalized and is implementing measures to strengthen Winterthur's capital base.