A.M. Best Co. announced that it has performed additional stress tests of the balance sheets of insurers’ exposure to euro zone debt as economic conditions within the region continue to worsen. Best has published the results of the findings in …
Italy’s top financial officials will meet later on Wednesday, as the escalating market turmoil threatens to push the euro zone’s third largest economy into a debt crisis that could threaten the whole currency bloc. Economy Minister Giulio Tremonti, Bank of …
Allianz and Generali followed rivals in aggressively writing down holdings of Greek government bonds on Friday, fuelling investor concerns about the possible impact on insurers of a worsening sovereign debt crisis. Analysts say major European insurers have moderate exposure to …
ING will not be launching a stock market flotation for its insurance operations any time soon and trade buyers are expressing interest, the Dutch bancassurer said on Thursday. European Commission regulators seeking payback for the state bailout the bank received …
Pressure on Europe’s banks to raise more capital increased on Monday after last week’s stress tests revealed their holdings of European sovereign debt, with likely losses on Greek bonds a growing concern. A health check of 90 European banks unveiled …
The International Monetary Fund joined Germany on Wednesday in pushing for private sector investors [presumably including the EU’s insurers] to help cut Greece’s debt mountain as the euro zone sought to break an impasse on how and when to grant …
European Union leaders are poised to hold an emergency summit after finance ministers acknowledged for the first time that some form of Greek default may be needed to cut Athens’ debts and stop contagion to Italy and Spain. “There will …
European politicians accused credit rating agencies on Wednesday of anti-European bias after Moody’s downgrade of Portugal’s debt to “junk” cast new doubt on EU efforts to rescue distressed euro zone states without debt restructuring. European Commission President Jose Manuel Barroso …
A credit rating downgrade to Portugal [by Moody’s Investors Services] added to fears Europe’s banks face heavy euro zone losses if a private sector plan to help Greece comes unstuck, piling pressure on creditors meeting on Wednesday. The Institute of …
Banks and policymakers moved closer to a deal on Friday to help Athens secure funds ahead of a parliamentary vote on austerity next week that Greek Prime Minister George Papandreou must win to avert default. Despite a refusal by the …
