Talanx News

Insurers Pressured to Drop Coverage of Canada’s Oil Sands Pipeline

A coalition of 32 environmental and indigenous groups on Thursday urged insurers to stop underwriting the Trans Mountain pipeline to pressure Canada to cancel its plan to expand the project, which carries crude from Alberta’s oil sands to British Columbia’s …

Talanx Acquires P/C Insurer in Turkey from Munich Re Subsidiary

The German insurer Talanx has acquired the property/casualty insurer ERGO Sigorta A.S. from a Munich Re subsidiary. Financial details of the transaction where not disclosed. Talanx purchased ERGO Sigorta from ERGO International, which is a unit of ERGO, the primary …

UPDATE 2: Global Re/Insurers Estimate Price Tag of Q3 Hurricanes & Quakes

Losses from Hurricane Maria and other recent 2017 natural catastrophes, including Hurricanes Irma and Harvey, the Mexico City earthquakes and other events, have led global insurers and reinsurers to issue profit warnings. Below are statements from insurers and reinsurers in …

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. …

Talanx Warns 2017 Profits Could Be Hit by Hannover Re’s Catastrophe Claims

German insurer Talanx warned it may miss its profit target for 2017 as its reinsurer, Hannover Re, is being hit by major claims from a series of hurricanes and an earthquake in Mexico. Reinsurers face big losses from Hurricanes Harvey …

Talanx Acquires Generali’s Colombian Businesses for €30M (US$34.6M)

Talanx has acquired Generali Colombia Seguros Generales S.A. and its life insurance subsidiary, Generali Colombia Vida Compañia de Seguros S.A., for approximately €30 million (US$34.6 million) Generali explained that Talanx is acquiring 91.3 percent of Generali Seguros and 93.3 percent …

Europe’s Insurers, Pensions Seek Higher Yields via Infrastructure Investments

Europe’s pensions and insurers, seeking returns in infrastructure deals after asset purchases by the European Central Bank gutted yields on bonds, say they’re being crowded out again. Their frustration is directed at the European Investment Bank, a public lender tasked …

Europe Insurers’ Stress Tests Could Lead to Higher Capital Requirements

European insurers, whose profits are being eroded by Mario Draghi’s* quantitative easing program, face a stress test headache that risks requiring them to set aside more capital, further hurting their ability to make money. The timing of the regulator’s “stress …

European Insurers Look to Hoarding Cash After Brexit Vote

Investors will consider hoarding cash in vaults as government bond yields fall deeper into negative territory following the U.K.’s vote to leave the European Union, according to Talanx AG, Germany’s third-biggest insurer. “Storing physical cash as an alternative to paying …

Insurers Provide Cover for German Banks Stashing Billions of Euros

Europe’s top insurers are selling protection to German banks that hoard billions of euros of cash in vaults to avoid paying a penalty by parking it at the European Central Bank, company executives told Reuters. The sums are so big …