Basler Versicherungen, the German unit of Swiss insurer Baloise Holding AG, reached an agreement to cut 400 jobs by the end of 2017 to reduce costs. The company, based in Bad Homburg, has “a framework agreement with the employee representatives’ …
Low interest rates are the biggest risk for European insurers and pension funds, weighing on sales of retirement products, the region’s top industry supervisor said. Interest rates are “putting pressure mostly on life insurers’ and occupational pension funds’ ability to …
Funds specializing in insurance-linked risks such as catastrophe bonds are benefiting as the $30 trillion pension industry increases bets in a market that hasn’t posted an annual loss. At Leadenhall Capital Partners in London, assets under management have doubled to …
Zurich Insurance Group AG’s German unit, which sells auto insurance with the country’s ADAC automobile club, plans to offer a wider range of policies after reducing coverage following a surprise write-off last year. “Our mid-term goal is to reduce dependency …
Axa Konzern AG, the German unit of Paris-based Axa SA, plans to increase operating profit this year as it reduces costs and readies a new life insurance product for 2014. “Our cost-reduction program is proceeding according to plan, and we …
Allianz SE, Europe’s biggest insurer, said markets such as Asia, Brazil and eastern Europe as well as products that protect against cyber risks will increase revenue at its industrial insurance unit. “New products such as cyber-risk protection and coverage for …
Allianz SE, Europe’s largest insurer, said it is committed to bolstering operations in the U.S. after international rivals scaled back in the country. “It is a monster market,” Gary Bhojwani, the management board member responsible for the Munich-based company’s U.S. …
European politicians reached an agreement paving the way for new rules designed to make insurance companies safer after 13 years of wrangling with the industry and regulators. The European Commission, European Parliament and Council of the European Union yesterday agreed …
Europe may be nearing an agreement on rules that aim to make insurance companies safer after 13 years of wrangling between politicians, companies and regulators. Insurers and European Union officials are working out a compromise on the capital they need …
Allianz SE, Europe’s biggest insurer, increased its full-year earnings goal after third-quarter profit rose 6.3 percent, beating analysts’ estimates. Net income advanced to €1.45 billion ($1.946 billion) from €1.36 billion [$1.825 billion] a year earlier, the Munich-based company said in …
