Roland Pfaender News
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Assicurazioni Generali SpA plans to seek a buyer for its U.S. life reinsurance business as Chief Executive Officer Mario Greco works to restore the profitability of Italy’s biggest insurer, people familiar with the process said.
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Swiss Re Ltd. and Munich Re, the world’s biggest reinsurers, expect rates to increase after posting second-quarter earnings that exceeded analyst estimates.
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Zurich Financial Services AG, Switzerland’s biggest insurer, said its board of directors will propose Josef Ackermann as chairman when he steps down as chief executive officer of Deutsche Bank AG.
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The Hungarian toxic spill, which released about the same volume of sludge as the oil disgorged after a BP Plc rig in the Gulf of Mexico, doesn’t threaten the Danube river’s wildlife because the level of alkalinity is falling, a government official said.
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European stocks closed little changed as a record drop in U.K. house prices offset an unexpected decrease in initial claims for U.S. jobless benefits.
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For Munich Re, Swiss Reinsurance Co. and Lloyd’s of London, the volcanic eruption in Iceland that halted European air travel will be one natural disaster they won’t have to pay for.
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Swiss stocks rose for a third day on continued expectation that central banks will keep monetary stimulus to spur growth and avert gains in national currencies.
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European banks declined as Germany’s ban of some bets against financial companies and government bonds sparked concern regulation will increase.
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Munich Re and Swiss Re Ltd., the world’s biggest reinsurers, are awaiting this month’s peak of the U.S. hurricane season after record first-half catastrophe losses depleted buffers and threatened shareholder payouts.
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