Italy’s Generali Group has concluded an agreement with PPF Group N.V., an international financial group, headquartered in Amsterdam, Netherlands, which is 95 percent controlled by Petr Kellner, a Czech entrepreneur with a strong track record of success. PPF Group in …
The threat of the bird flu virus mutating into a strain capable of causing a pandemic intensifies amidst a growing number of outbreaks and human cases in different parts of the world. Since 2003, a total of 168 people have …
Bermuda’s AXIS Capital announced that its expects net losses related to Windstorm Kyrill to be between $40 and $55 million, principally from its reinsurance segment. AXIS noted that Kyrill “produced damaging winds across Europe,” and was the “most significant storm …
Germany’s Allianz Group announced that “based on the current state of knowledge,” it estimates net claims of around €350 million ($452 million) before taxes. “The amount of claims is within the scope of expectations based on Allianz’s risk modeling systems, …
Based on current estimates, Munich Re expects pretax losses from Windstorm Kyrill to be around €600 million ($775 million). The estimates include claims relating to the Group’s primary insurance subsidiary ERGO. Munich Re’s estimate of overall insured market loss is …
Risk Management Solutions (RMS), has released its initial estimate for insured losses from Windstorm Kyrill, indicating that it expects them to be between €3 billion and €5 billion ($3.9 billion and $6.5 billion). RMS’ estimates are somewhat lower than fellow …
Catastrophe risk modeler AIR Worldwide has issued a bulletin estimating insured losses from Winter Storm Kyrill (or Cyril) at between €4 billion and €8 billion ($5.18 billion and $10.37 billion). The GDV German insurance industry association estimated that country’s insured …
The mild winter weather that much of Europe has been enjoying for the last month came to a sudden halt earlier this week when the most violent storm to hit the continent since 1999 swept in from the Atlantic. So …
Romania and Bulgaria, two of Europe’s poorest countries, officially became members of the European Union on New Year’s Day, bringing the total to 27. Celebrations in Bucharest and Sofia greeted the two countries’ new status. The EU now numbers nearly …
Standard & Poor’s Ratings Services announced that it has raised its long-term counterparty credit and insurer financial strength ratings on Czech Republic-based insurer CSOB Pojistovna, a. s. to “BBB+” from “BBB-” and has assigned a positive outlook. “The upgrade reflects …
