euro zone News

A.M. Best: European (Re)Insurers Face Pressure Points; Ratings Are Stable

The recent unveiling by the European Central Bank (ECB) of its large-scale sovereign bond buying program is just one of the pressure points building in Europe that could affect insurers and reinsurers’ balance sheets, said A.M. Best in a new …

UK Prime Minister Cameron Promises Britons Straight Choice on EU Exit

Prime Minister David Cameron promised on Wednesday to give Britons a referendum choice on whether to stay in the European Union or leave if he wins an election in 2015, placing a question mark over Britain’s membership for years. Cameron …

EU Countries to Receive Go-ahead for Financial Transaction Tax

Germany, France and nine other euro zone countries will get the go-ahead on Tuesday to push on with a financial transactions tax, a measure likely to unsettle banks but which will please voters and raise much-needed revenue. European Union finance …

Euro Zone, IMF Secure Deal on Cutting Greek Debt

Euro zone finance ministers and the International Monetary Fund clinched agreement on reducing Greece’s debt on Monday in a breakthrough to release urgently needed loans to keep the near-bankrupt economy afloat. After 12 hours of talks at their third meeting …

World Economic Climate Continues to Decline: ICC/Ifo Survey

The health of the world’s economy continues to deteriorate as insufficient demand, unemployment and the on-going debt crisis in Europe undermine recovery efforts, according to the latest findings from the ICC-Ifo World Economic Survey (WES). The ICC said that “based …

EU, IMF Clash over Greece Revives Debt Crisis Fears

A public clash between Greece’s international lenders over how Athens can bring its debts down to a sustainable level has reignited fears that the crisis could flare up anew. Euro zone finance ministers suggested that Greece, where the euro zone …

IMF Urges Permanent Fix to U.S. ‘Fiscal Cliff’

The International Monetary Fund on Thursday urged the United States to quickly reach an agreement on a permanent fix to avoid automatic tax hikes and spending cuts early next year, saying a stop-gap solution could be harmful to the global …

U.S. ‘Fiscal Cliff,’ Europe’s Debt Woes Worry G20

Leading world economies pressed the United States on Sunday to act decisively to avert a rush of spending cuts and tax hikes, warning that the so-called fiscal cliff is the biggest short-term threat to global growth. Unless a fractious Congress …

Willis Sees Threats on Horizon for Booming Latin American Energy Industry

“The booming Latin American energy industry is not insulated from the threat of a euro zone collapse or hostilities in the Middle East,” warned global insurance broker Willis. Speaking to a gathering of energy companies in Foz Do Iguacu, Brazil, …

Best’s Report on Spanish Non-Life Sector Finds Profits, Future Challenges

“The Spanish non-life insurance sector remained profitable in 2011, but growth remains challenging, as it continues to face one of the bleakest economic environments since the 1930s,” according to a new report from A.M. Best Co. Best explained that non-life …