February 27, 2025
Reinsurance company Swiss Re said on Thursday that claims from wildfires in Los Angeles would be less than $700 million and would impact its first quarter results, the latest European reinsurer to disclose a hit from the January blaze. The …
February 26, 2025
Germany’s Munich Re expects about 1.2 billion euros ($1.26 billion) in claims resulting from the Los Angeles wildfires, it said on Wednesday, representing the biggest loss reported so far by a single European reinsurer for the January catastrophe. The wildfires …
August 8, 2024
Several European insurers recorded bumper first-half profits on Thursday, as customers burnt by a pandemic, war and a pick-up in natural catastrophes in recent years continue to face higher premiums on policies. Higher interest rates have also given insurance investment …
June 27, 2024
The regulation that sets up the European Union’s new agency to combat money laundering went into force on Wednesday, and the authority already has its first job posting: the position of chair. Candidates have until July 8 to apply to …
July 25, 2023
Wildfires and evacuations on the Greek island of Rhodes, and a heat wave blasting much of southern Europe, have raised questions for tourists about their travel insurance coverage. As the threat of fires remains high throughout Greece and heat continues …
April 19, 2023
German reinsurer Hannover Re on Wednesday became the third major company to leave a global climate alliance focused on reducing emissions that has faced growing political pressure in the United States. Hannover said in an emailed statement that it was …
April 14, 2023
In the German town of Ratingen, exploding cash machines are a hot-button topic. Two got blown up early on the same morning last month, at branches of Santander and Deutsche Bank across the street from each other close to the …
February 17, 2023
Germany’s Allianz on Friday swung to a fourth-quarter net profit, rebounding after taking big charges a year earlier for a U.S. funds scandal and as a higher investment margin boosted its life and health insurance business. But its asset management …
February 14, 2023
For years, Allianz, one of the world’s biggest investors, piled billions into property, wind farms and even London’s sewage system, but now it is moving to shun such “alternative” investments for plain vanilla bonds, people with knowledge of the matter …
January 10, 2023
Hurricane Ian in the United States and floods and Australia helped to make 2022 one of the costliest years on record for natural disasters, Munich Re said on Tuesday, warning that climate change was making storms more intense and frequent. …