Swiss Re’s Economic Forum singled out three main factors that will continue to affect the re/insurance market in 2011. The Forum’s economists forecast “continued global economic expansion in 2011, led by emerging markets; insurers’ profitability will remain under pressure amid …
The European Union formally backed Russia’s bid to join the World Trade Organization on Tuesday, clearing the way for Moscow to join the body in 2011, after 17 years of trying. EU Trade Commissioner Karel De Gucht and Russian Economic …
The American Insurance Association (AIA) has commended the United States and Korean governments for successfully reaching agreement on the Korea-United States (KORUS) Free Trade Agreement, after “months of thoughtful negotiating between the two nations.” David Snyder, AIA vice president and …
Spain will not be next in line for a rescue package from Europe, but a common economic policy is needed to support a single currency, Spanish Economy Minister Elena Salgado told BBC Radio on Friday. Salgado also said Spain would …
American International Group is considering another debt offering after the success of its $2 billion sale earlier this week, Chairman Steve Miller said on Thursday. In an interview at The Deal’s Deal Economy conference Miller said, “Well, we’re having second …
AIG may be getting healthier, but it hasn’t fully recovered. When AIG sold $2 billion of debt on Tuesday, it had to offer fat interest payments to investors. The extra yield it paid over Treasuries, a measure of how much …
Global concern about the debt crisis rocking the euro zone mounted on Wednesday, with Washington sending a top U.S. Treasury envoy to Europe and G20 officials discussing the turmoil in a conference call. A day after investors pushed the risk …
Bailed-out insurer American International Group (AIG) returned to the debt market Tuesday after more than a two-year absence, part of its strategy to raise capital as it works on various deals to pay back the government. AIG had said earlier …
Germany and France declared on Monday that Europe had taken decisive action to save the euro by rescuing Ireland and laying the foundations of a permanent debt resolution system, but investors were not convinced. Under pressure to arrest the threat …
Negotiators for the Irish government and the European Union put the finishing touches on an €85 billion [$113 billion] bailout for the beleaguered country over the weekend. The agreement follows Ireland’s somewhat reluctant acceptance that the situation with its banks …
