Allianz disappointed investors on Friday as its property/ casualty insurance business missed expectations even as improving financial markets helped group net profit rise by a fifth in the second quarter. Net profit at Europe’s biggest insurer swelled to 1.9 billion …
The short-term success of Hannover Re’s bid to diversify away from risky businesses is hostage to the hurricane season, while further out, it is likely to lead to a positive re-rating of the shares. The world’s fourth-biggest reinsurer’s new chief …
Reinsurers’ tough talk about raising prices on the risk cover they sell to insurers may have rung hollow before, but this time the promise is credible. Reinsurance companies such as global leader Munich Re have been flexing their muscles, predicting …
Reinsurers’ tough talk about raising prices on the risk cover they sell to insurers may have rung hollow before, but this time the promise is credible. Reinsurance companies such as global leader Munich Re have been flexing their muscles, predicting …
A Dutch insurer’s experimental bid to tap the U.S. government for bailout cash looks doomed to failure, closing off an avenue for other insurers. Aegon NV said this week it was mulling buying a small U.S. bank to qualify for …
Allianz’s Dresdner Bank unit posted its biggest quarterly loss since the start of the financial crisis, the insurer said on Monday, pushing the group to a €2 billion ($2.58 billion) net loss. Allianz is selling Dresdner Bank, which had a …
The world’s reinsurers expect the intensifying financial market storm will allow them to push through higher prices for the risk cover they offer insurance companies. The world’s No. 2 and No. 4 reinsurers, Munich Re and Hannover Re, on Monday …
German insurers said on Wednesday they don’t intend to use Berlin’s 500 billion euro ($683 billion) rescue fund, while public-sector banking officials traded barbs over who might be first to ask for cash. Nikolaus von Bomhard, chief executive of the …
European reinsurers’ losses on investments due to the financial crisis may dampen their appetite for a reinsurance price war, but will not interrupt the trend toward a weakening market. As reinsurers descend on the Mediterranean resort of Monte Carlo this …
Munich Re expects more writedowns on its equity holdings in the third quarter but took account of likely losses in lowering its profit forecast for 2008 last week, its chief financial officer told Reuters. The world’s second-biggest reinsurer roiled markets …
