Swiss Re presented its latest analysis of the global economic outlook and its potential impact on the insurance industry at an economic forum in London yesterday, December 1. Chief Economist Kurt Karl began the discussion with an admonition that the …
New York State has been shedding hundreds of thousands of well-paying jobs since the financial crisis hit and its poverty rate remains high. Since 2008, the state lost over 250,000 middle- and high-wage jobs in sectors including finance, government and …
Munich Re announced third-quarter profit “in a difficult environment” of €290 million [$400 million], compared to €761 million [$1.05 billion] in Q3 2010. The world’s largest reinsurer singled out the “financial markets, currency translation effects and heavy burdens from natural …
Alabama regulators are preparing to hold a public hearing on a proposed statewide average 9.3 percent decrease in the state’s workers’ compensation rates. The National Council on Compensation Insurance submitted the filing earlier this year, which calls for the sixth …
Oklahoma’s economy showed more signs of improvement in September, with increases across all major tax sectors compared to the same time last year, although the growth rate has slowed, State Treasurer Ken Miller said. Figures released by Miller’s office show …
Agriculture and manufacturing have spurred the South Dakota economy to moderate prosperity in the backwash of the national recession. Gains on the farm and in some factories have offset soft times in housing and the financial industry, resulting in almost …
A new report from A.M. Best notes that “intense competition and the effect of the weak economic climate on investment returns and loss experience continue to put pressure on U.K. non-life insurers’ financial performance. “Results for 2010 also provided further …
Generally speaking the reinsurance industry is in good shape, certainly better than it was in 2008 and 2009, when even mighty Swiss Re needed a bailout from Berkshire Hathaway. A combination of improved models and a greater understanding as to …
A new special report from A.M. Best found some “hopeful signs” emerging for the global reinsurance industry. “After years of a soft market, weak investment returns, lukewarm investor interest and sluggish consolidation activity, the bottom line has been squeezed, and …
Asia will add 1.66 million dollar-millionaires by 2015, taking the total number of wealthy to 2.82 million as the world’s fastest-growing major economies of China and India continue to mint millionaires, a report from Julius Baer said on Wednesday. The …
