European finance ministers triggered a record €110 billion ($147 billion) bailout for debt-stricken Greece on Sunday, May 2, when Athens committed itself to years of painful austerity. After weeks of tough talk and procrastination due to fierce public opposition to …
Policymakers and markets trying to react to the volcanic gas cloud paralyzing air travel in Europe face a host of variables, unknowns and hard-to-measure risks that make modelling almost impossible. No one can accurately predict what the volcano — or …
European airports started to return to life on Tuesday after five days cut off from the rest of the world by a volcanic ash cloud, but some countries were more cautious after reports a new cloud might be on its …
As the international community steps up its efforts to fight money laundering, a number of countries are now requiring insurers to obtain additional information from their customers to screen out possible bad actors. For multinationals interested in doing business in …
Multinationals Face Heightened Compliance Requirements in High Risk Countries As the international community steps up its efforts to fight money laundering, a number of countries are now requiring insurers to obtain additional information from their customers to screen out possible …
French reinsurer SCOR Group announced that based on preliminary estimates, it expects its related costs from the earthquake in Chile and Windstorm Xynthia to be approximately €95 million ($130 million) net pre-tax, which “represents approximately 3 percent of the projected …
Swiss Re’s annual sigma study has calculated that “natural catastrophes cost insurers $22 billion in 2009, while man-made disasters cost an additional $4 billion. Insured losses were highest in North America, where they cost insurers over $12.7 billion. “The death …
Swiss Re released its preliminary estimates for losses from the magnitude 8.8 earthquake that hit Chile on February 27 – $500 million – and from European windstorm Xynthia – $100 million. Both estimates are “net of the benefits of retrocession.” …
Last month’s huge earthquake in Chile might cost the insurance industry up to $7 billion in damage claims, the world’s top two reinsurers said, but it looks unlikely to raise reinsurance prices. World leader Munich Re said it expected the …
