Live Insurance News

Premiums set to grow throughout the insurance industry

July 2, 2013July 1, 2013 Logan B.

Swiss Re reports on the state of the insurance industry Swiss Re, a leading global reinsurance firm, has released a new report concerning the state of the insurance industry and the cost of coverage. The global insurance industry has been seeing a great deal of activity recently, some of which has been considered somewhat negative. The negative issues that the industry has had to deal with are largely associated with powerful natural disasters that have occurred in some parts of the world in recent months. The report shows that natural…

Vienna Insurance misses mark on profit estimations

January 29, 2013January 28, 2013 S.Vagus

Vienna Insurance profit predictions derailed Vienna Insurance Group, the largest insurance organization in Eastern Europe, has missed its own profit estimations for the 2012 fiscal year. Several factors have come together to derail the insurer’s predictions, with fourth quarter earnings showing signs of struggle as these factors culminated toward the end of the year. While the insurer did see gains, they were not as promising as had been previously expected, thus leading Vienna Insurance to revise its approach to 2013. Pre-tax profits reach $780 million in 2012 The company’s pre-tax…

Spain may benefit from EU insurance plan

October 5, 2012 S.Vagus

EU insurance plan could help Spain recover from financial troubles The European Union has been struggling to rein in on a dire financial crisis that has threatened the economic stability of several countries in the region. The governing body has turned to the insurance industry to aid in recovery and the mitigation of a future crisis and insurers has, thus far, proven to be a powerful ally in this endeavor. Several countries suffering from the effects of the financial crisis have benefited from the involvement of the insurance industry. Now, the European…

European Commission plan rejected by Germany

September 21, 2012September 21, 2012 Nordstrom

European Commission finds opposition to banking plan German lawmakers have rejected a proposal coming from the European Commission concerning the ongoing financial crisis enveloping Europe. The European Commission has been working to solve the issues caused by the financial crisis, but has made little headway. With the help of the insurance industry, however, some problems have been resolved. Some of the world’s largest insurance companies have agreed to provide coverage and issue bonds that will help countries recover from the financial crisis. Not all of the European Commission’s proposals have…

Libor scandal could have long-standing consequences

August 4, 2012August 3, 2012 S.Vagus

Insurers face heavily financial losses as the result of the Libor scandal Many of the world’s largest insurance and financial institutions may be liable for hundreds of millions of dollars over the next several years due to the ongoing Libor scandal. Libor refers to the London Interbank Offered Rate, which is an average interest rate estimated by the leading banks of the United Kingdom. Libor has been a somewhat controversial issue for several years, but has become even more so in light of the current scandal. The scandal was ignited…