Slovakia News

Record Flooding Impacts Southeast Europe: AIR Analysis

According to catastrophe modeling firm AIR Worldwide, Southeast Europe is experiencing record levels of flooding after three months’ worth of rain fell in just three days. The report cited the “many landslides” that have covered roads, homes, and villages, as …

Swiss Re Estimates Europe Flood Claims at $300 Mn; Overall Losses $3.5-$4.5 Bn

Swiss Re has estimated that its claims burden from recent flooding in central and Eastern Europe is approximately $300 million, net of retrocession and before tax. Industry-wide insured losses are estimated to be between $3.5 and $4.5 billion. The flooding …

Swiss Re is ‘Well Placed’ for Baden-Baden Renewal Discussions

Swiss Re has issued a bulletin noting that it is “well placed for the upcoming 2011 renewal negotiations with its European clients.” The talks, which begin this week in the German resort of Baden-Baden, bring together brokers and reinsurers (and …

QBE Europe Promotes Tonchev and Jenny

QBE’s European division announced that Petko Tonchev has been promoted to General Manager for Central and Eastern Europe and Felix Jenny will take up the interim position of General Manager of QBE‟s German operation. Both roles are effective immediately. They …

Allianz Names Bauer to Head Europe, Middle East ‘Growth Region’

Allianz annonced that, effective January 1, 2010, Manuel Bauer will be CEO of the new growth region – ‘Central and Eastern Europe, Middle East and North Africa’ (CEEMA). He succeeds Klaus Junker, former CEO of the New Europe region, who …

Heavy Rains Trigger Flooding in Central Europe

According to a report from Risk Management Solutions, last week’s extremely heavy rainfall, which continued for three days over Central Europe, triggered severe flooding across parts of the Czech Republic, Germany, Poland and Austria and putting Hungary on a high …

S&P Withdraws, Affirms Ratings of Several ‘Minor AIG Subsidiaries’

Standard & Poor’s Ratings Services has announced various ratings actions on several subsidiaries of the American International Group. “These actions follow AIG’s decision to revise or terminate guarantees,” explained credit analyst Rodney Clark. “The guarantees had provided the basis for …

Aon: Economic Crisis Heightens Political Risk

2009 will see the political consequences of the global credit crunch start to have an impact, according to the 16th annual Political Risk Map, launched today by Aon Risk Services, a division of Aon Corporation. In a global webcast, Aon’s …

Climate Change Raises 2008 Cat Losses to $200 Billion Says Munich Re

Munich Re has released its annual report on the natural catastrophes that occurred in 2008, which it describes as “one of the most devastating years on record.” 2008′s major catastrophes included a number of tropical cyclones (hurricanes and typhoons) and …

Munich Re 2008 Catastrophe Report Cites Role of Climate Change

Munich Re has released its analytical report on the natural catastrophes that occurred in 2008, which the reinsurer describes as, “one of the most devastating years on record.” 2008′s major catastrophes included a number of tropical cyclones (hurricanes and typhoons) …