Allianz SE, Europe’s largest insurer, and Munich Re’s primary insurance unit, Ergo Versicherungsgruppe AG, are in talks to buy Agrotiki Insurance from Greece’s Piraeus Bank SA, said three people familiar with the matter. The price of Agrotiki, also known as …
A slide in reinsurance rates under competition from catastrophe bonds is starting to weigh on prices that companies like Zurich Insurance Group AG charge their own customers. The decline in the cost of reinsurance is “more of a problem than …
Zurich Insurance Group AG, the biggest Swiss insurer, said first-quarter profit rose 20 percent, helped by capital gains on investments. Net income rose to $1.27 billion from $1.06 billion in the year-earlier period, the Zurich-based company said in an e- …
Swiss Re’s new Chief Financial Officer, David Cole, said high yields for insurance-linked securities [ILS], such as catastrophe bonds, may lure inexperienced buyers not prepared for the risks they carry. “The fact that no major natural catastrophes have occurred over …
The lack of structural measures in large economies including France and Italy present the biggest threat to growth in the euro area, Swiss Re Ltd.’s Chief Economist Kurt Karl said. The region’s economy will probably expand 1 percent this year …
Reinsurance rates, particularly for natural catastrophe coverage, probably won’t increase this year, said Swiss Re Ltd.’s chief financial officer. Prices will only begin to rise again when there is some “capital depletion” because of market volatility or a costly disaster …
Zurich Insurance Group AG, the biggest Swiss insurer, reported fourth-quarter profit that missed analysts’ estimates after restructuring charges following a business review. Net income rose 9 percent to $1.07 billion, the company said in an e-mailed statement from Zurich today. …
Natural catastrophes are growing more costly and uninsured losses are increasing, according to David Cole, chief risk officer of Swiss Re Ltd. “When they happen, they are more severe,” he said today at a presentation in Zurich. More losses occur …
Swiss Re Ltd., the world’s second – biggest reinsurer, fell the most in six months in Zurich trading after Willis Re said reinsurance prices slid by as much as 25 percent in the Jan. 1 renewals round. Swiss Re declined …
Zurich Insurance Group AG, Switzerland’s biggest insurer, says a business unit selling insurance to corporate clients will become more important as the companies expand abroad. “Companies growing beyond their border is a trend that will last,” Thomas Huerlimann, head of …
