William Hardcastle, director of Twelve Capital, says there are strong solvency ratios within the insurance sector.» Read More
These are critical moments for the company. The $440 million trading loss they announced this morning likely wiped out all the cash on the balance sheet, and they need cash to keep the company running.
Aviva is exposed to Ireland, Spain and Italy because it has large life insurance businesses there, Andrew Moss, Aviva CEO, told CNBC. He added that overall, he was comfortable with these exposures.
The UK should find the right balance between risk and safety, or risk a hemorrhaging of business out of London, Lord Peter Levene, chairman of insurance giant Lloyd's of London chairman warned in a speech late on Tuesday.
Prudential, the UK-based insurer and asset manager, reported a better-than-expected 25 percent rise in half-year profit to 1.06 billion pounds ($1.72 billion) Friday.
In spite of gloomy news about housing coming from virtually all directions, a new survey reveals that 70 percent of Americans would advise friends and family to buy a house, Thomas Wilson, CEO and chairman of the insurance company Allstate Corporation, told CNBC Friday.