Swiss Re’s recent Economic Forum at the reinsurer’s iconic London headquarters presented a far more encouraging picture of the world’s financial condition than a year ago. Thomas Hess, Swiss Re’s chief economist and head of global research; Clarence Wong, chief …
Financial giants such as Goldman Sachs Group could be broken up under two bills introduced in the U.S. Congress Wednesday, one with the backing of former Republican presidential nominee John McCain. Both would reinstate the 1930s-era Glass-Steagall laws that barred …
An insurance trade group says a bill passed by the Michigan House of Representatives threatens to increase auto insurance costs and harm the state’s job market and economy. The Property Casualty Insurers Association of America (PCI) says the House passed …
Time is running out once again for the National Flood Insurance Program, which is set to expire on Dec. 18. Congress passed a short-term extension in September that moved the expiration deadline for NFIP to Dec. 18, 2009. But if …
A.M. Best Co.’s review of the Bermuda market’s results finds these companies strongly capitalized; However, Best warned that they will “face significant challenges during the current phase of the insurance cycle.” Best said it “believes that companies also must consider …
The participation of two big insurers in the $700 billion financial rescue contradicted the goals of the government program, according to a bailout watchdog. The inclusion of Hartford Financial Services Group Inc. and Lincoln National Corp. “was incongruous with the …
The European Union increased pressure on the International Monetary Fund on Friday to consider a global tax on financial transactions to limit the risk of another economic crisis. In a draft statement expected to be approved on the second day …
California Insurance Commissioner Steve Poizner today announced that due to the recent frost warnings issued throughout the San Joaquin Valley, farmers should take a close look at their crop insurance policies to make sure they are up-to-date and offer enough …
The U.S. House approved the biggest changes in financial regulation since the Great Depression Friday, marking a win for the Obama administration and congressional Democrats. With the Senate due to debate similar reforms well into next year, the House voted …
An anlaysis from Allianz Insurance Management Asia Pacific concludes that regional GDP is expected to grow by 6.7 percent in 2010, with Asia contributing “almost 39 percent to next year’s global economic expansion,” with China and India still leading the …
