Global Economy
Light Hurricane Season Now Even More Likely
Forecasters with the National Weather Service raised the likelihood for a below-normal season in their most recent Atlantic hurricane season outlook. The update predicts a 70 percent chance of a ...
Allianz Profit Boost Fueled, in Part, by Fewer Natural Disaster Claims
Allianz SE, Europe's biggest insurer, said second-quarter profit rose 11 percent, helped by higher earnings at the life and health insurance unit and lower natural disaster claims. Net income ...
National Hurricane Center Focuses on Improving Long Term Forecasts
Advancements in weather prediction tools have allowed the National Hurricane Center (NHC) to introduce two new products, a storm surge flood prediction map and a five day tropical weather graphical ...
Munich Re Slammed by Belated Japan Snowstorm Claims
Munich Re, the world's biggest reinsurer, reported second-quarter profit that missed analyst estimates, hurt by claims linked to a snowstorm in Japan. The shares dropped the most in three months. Net ...
ACE Group Beefs Up European Cyber Risk Insurance Practice
ACE Group recently took a number of steps to beef up its cyber risk insurance practice overseas, underscoring the increasing demand for coverage in this area. The company, one of the largest ...
Investors Reward Zurich For Payout and Profit News
Zurich Insurance Group AG, Switzerland's biggest insurer, surged after saying it will distribute more than $3.5 billion in cash this year and operating profit climbed. The shares advanced as much as ...
Swiss Re CEO: Opportunities Fueled a Great Quarter
Swiss Re Group excelled in the 2014 second quarter with improved results in nearly every area but particularly property/casualty reinsurance. Group CEO Michel M. Liès noted the milestone stands in ...
AIG to Pay $305M for Ageas’ U.K. Life Protection Insurance Arm
American International Group said it will pay $305 million for the U.K. life protection insurance division of Belgium's Ageas Group. Assuming regulators sign off on the deal to by Ageas Protect Ltd, ...