Floods, Windstorms, Droughts, Heat Waves and Wildfires There was a time in the not-so-distant past when events such as these would have been considered somewhat unusual in Europe. But these days, extreme weather events are becoming a much more common …
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 …
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 …
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 …
The European Union has deployed billions of euros and endless words to try to contain its sovereign debt crisis this year, but poor communication and bad timing have left financial markets unconvinced. The communications problems haven’t caused the crisis — …
Financial markets rallied slightly and European Union partners voiced relief on Monday after Ireland agreed in principle on a three-year bailout package with the EU and the IMF to salvage its shattered banks. European shares rose 0.7 percent in early …
A.M. Best Europe – Rating Services Limited has upgraded the financial strength rating (FSR) to ‘A+’ (Superior) from ‘A’ (Excellent) and issuer credit rating (ICR) to “aa-” from “a+” of Zurich Insurance Company Limited (ZIC), the main operating company of …
Zurich Financial Services Group announced that it has entered into a definitive agreement to sell back to Spanish insurer Unnim its 50 percent stakes in the life and general insurance bancassurance companies jointly owned with Unnim. Zurich said the “agreement …
Even though Ireland’s financial crisis continues to make headlines, it’s not by any means a national meltdown, and it doesn’t appear to pose a threat to any of the re/insurance companies and brokers, who have substantial operations in the country. …
