HONG KONG, Sept 4- Explosions in the Chinese port of Tianjin last month could generate insurance losses of up to $3.3 billion, reinsurance specialist Guy Carpenter& Company said in a report on Friday, nearly double what some analysts had originally thought. Guy Carpenter, the risk and reinsurance unit of Marsh& McLennan Co Inc, used high definition satellite...» Read More
FRANKFURT, March 30- Germany's Allianz has estimated insurers will pay $300 million in claims and costs stemming from the crash of a Germanwings plane in the French Alps last week, insurance industry sources said on Monday. The initial estimate represents about 20 percent of the $1.5 billion in premiums in the global market for airline insurance.
NEW YORK, March 23- IRB Brasil RE plans to grow more aggressively in Latin America and Africa as part of an expansion that may require Brazil's largest reinsurer to seek an initial public offering or tap an outside partner before 2018, Chief Executive Officer Leonardo Paixão said on Monday. In Brazil, infrastructure projects from factories to shipbuilding...
*Credit Suisse surges after naming new CEO. LONDON, March 10- European shares slipped further on Tuesday from a seven-year high after sharply weaker oil and metals prices pulled down commodities stocks, although Credit Suisse rallied after naming a new chief executive. "Credit Suisse has had different issues throughout the years and someone with a diverse...
CHICAGO, March 10- Government support for U.S. grain farmers under the new five-year farm bill will peak with the coming 2015 crop, the Food and Agricultural Policy Research Institute said in a new report. The think tank estimated that $3.9 billion in ARC and PLC payments for last year's 2014 crop would be made after fiscal 2016 begins on Oct. 1.
*Credit Suisse surges after naming new CEO. LONDON, March 10- European shares slipped further away from a recent seven-year high on Tuesday as a sharp decline in crude oil and metals prices hit commodities stocks, although a rally in Credit Suisse capped market losses. "Credit Suisse has had different issues throughout the years and someone with a diverse...
*Credit Suisse surges after naming new CEO. LONDON, March 10- European shares slipped further away from a recent seven-year high on Tuesday as weaker oil and metals prices hit commodities stocks, but a rally in Credit Suisse limited market losses. "Credit Suisse has had different issues throughout the years and someone with a diverse background could look at its...
Axis Capital Holdings Ltd and PartnerRe have agreed to an $11 billion merger to create one of the world's largest reinsurers.
In a low-rate environment it's hard for our clients to save money through us and have enough income, says Steve Miller, AIG non-executive chairman, discussing how low interest rates are impacting his business.
Roland Vogel, CFO of Hannover Re, says the company likes higher interest rates and can react to moves in the rate.
Jorg Schneider, CFO at Munich Re, says the group is overall not concerned by the strong euro and discusses the group's investment strategy to make returns in the current low-yield environment.
Billionaire Warren Buffett told CNBC on Monday that he does not see climate change impacting insurance prices "three years or five years from now."
Joerg Schneider, CFO at Munich Re, says the group is resuming its share buyback program because it's in a "very comfortable capital position."
SAC Capital Advisors will shut down its London office by the end of the year as the hedge fund downsizes, according to a memo sent to staff on Tuesday.
Tom Carstairs, analyst at Berenberg, highlights that results from European re-insurers have been quite strong and explains why he expects pricing pressure to impact the sector in Q3.
George Quinn, CFO of Swiss Re, tells CNBC that their strong result was down to unusual circumstances of no large losses at all combined with a strong underlying profit from the team.
Michel Lies, CEO of reinsurer Swiss Re says authorities in both developed and developing countries still have considerable risk management work to do.
Paul Murray, MD of Life & Health Products at Swiss Re thinks longer life spans in Asia will drive up health care costs, which presents a big opportunity for both governments & the health insurance sector.
The recent dry weather affecting crops across the midwest of America will hit the reinsurance industry with perhaps the biggest loss ever, according to Nikolaus von Bomhard, Chairman at Munich Re.
Smaller businesses that want to cut the costs of health insurance for their employees are using captive insurers to save money on premiums but also to reduce income taxes and transfer money to heirs free of estate tax.
The management of UK-based Prudential has made no decision on whether to relocate outside of the European Union but is watching with apprehension Brussels' plans to introduce new regulation for insurers, CEO Tidjane Thiam told CNBC.