Articles by Carolyn Cohn, Tom Sims and Noor Zainab Hussain

Space Insurance Premiums Could Double After European Vega Rocket Crash

Space rockets and satellites are likely to cost more to insure after the European Vega rocket crash this month, which hit insurers with a record space market loss of 369 million euros ($411.21 million), insurance industry sources say. The Vega …

EU Regulator Says Insurers Pass Stress Tests

Europe’s biggest insurers successfully withstood the latest tests of their ability to cope with severe market shocks, the European Union’s insurance watchdog said on Friday. The European Insurance and Occupational Pensions Authority (EIOPA) published results of this year’s stress test …

Financial Markets’ Volatility Will Hit Allianz’ Fund Business, Warns Board Member

Recent volatility in financial markets will curb inflows this year into Allianz’ asset management business, which includes U.S. bond giant PIMCO, a board member told Reuters. In 2017, Allianz reeled in 150 billion euros ($175.25 billion) in net inflows, a …

Munich Re Not Looking But Would Welcome Investor: CEO Wenning

Munich Re would welcome a long-term investor taking a significant stake in the company as the world’s largest reinsurer eyes a return to profit growth this year, its CEO told Reuters. Joachim Wenning’s comments come as Japan’s SoftBank is in …

Allianz Cuts 2017 Profit Projection After Q3 Natural Catastrophe Claims

Allianz has slightly downgraded its profit outlook for the full year after increased claims from natural disasters in North America, the German insurance giant’s finance chief said. Hurricanes Harvey, Irma and Maria, two earthquakes in Mexico, and fires in California …

Natural Disasters Begin to Hit Profits of Global Reinsurers

A profit warning from one of the world’s largest reinsurers is the latest sign that the death and destruction from a spate of hurricanes and earthquakes in North America are now taking a toll on the titans of global finance. …

Hurricane Costs Become Talk of Monte Carlo’s Reinsurance Rendezvous

As Hurricane Irma battered Florida, the cream of the insurance world — gathered in Monte Carlo — was assessing the costs of the storm for the global industry. The takeaway so far: Irma and its predecessor, Hurricane Harvey,, which caused …

Hurricane Costs Become Talk of Monte Carlo’s Reinsurance Rendez-Vous

As Hurricane Irma battered Florida on Sunday, the cream of the insurance world — gathered under the Mediterranean sun in Monte Carlo — was assessing the costs of the storm for the global industry. The takeaway so far: Irma and …

Insurers Will Easily Swallow Harvey’s Claims but Growing Climate Risk Predicted

Damages from Hurricane Harvey’s ravaging of Houston and the Texas Gulf Coast are estimated to be well below those from the major storms that hit New Orleans and New York in recent years, insurance executives have said. Though insurers should …

Harvey’s Insured Losses Hurt Insurers’ Stocks, Could Boost Reinsurers’ Prices

Hurricane Harvey’s whipsaw of wind and rain across Houston and the Texas Gulf Coast hurt the shares of U.S. property and casualty insurers on Monday as Wall Street analysts estimated insured losses as high as $20 billion. That would make …