Catastrophe modeling firm AIR Worldwide has issued a report on the heavy rains, which caused widespread flooding in France and Italy during the first week of November. The storms were caused by a “low pressure system that developed over the …
The head of the International Monetary Fund warned on Wednesday that Europe’s debt crisis risked plunging the global economy into a “lost decade” and said it was up to rich nations to shoulder the burden of restoring growth and confidence. …
Continuing heavy rains have caused serious flooding in southern France and throughout Italy, with little letup in sight. In western England an horrendous crash on the M25 motorway in Somerset, involving 34 cars and trucks, left seven people dead and …
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 …
Standard & Poor’s downgrading of Italian debt hit the euro on Tuesday, although stock investors shrugged off the move to push European stocks higher. Markets remain on edge about Greece’s rickety finances and French banking stress and world stocks as …
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 …
Crawford & Company announced that it has successfully completed its acquisition of Studio Bolton & Associati s.r.l., first announced in November 2010. Studio Bolton is a leading specialist liability adjusting and claims handling company in Italy, with more than 35 …
A.M. Best Europe – Rating Services Limited has revised the outlook to stable from negative and affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit rating of “a” of Italy’s Societa Cattolica di Assicurazione – Societa Cooperativa. …
