Spain may benefit from EU insurance plan

EU Insurance Plan

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…

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U.S. insurers may be at risk of costly payouts spawned from the European financial crisis

Many U.S. banks have upped their insurance sales in Greece, Portugal, Ireland, Spain and Italy during the first half of 2011. The growth in sales is the result of the European financial crisis that threatens to plummet several nations into economic catastrophe. Banks have been selling insurance against credit losses in the nations more affected by the financial crisis, but the practice may be putting insurers at higher risk of costly payouts. As the crisis worsens, insurers are now looking for ways to mitigate the impact of defaults. According to…

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Chartis insurance group seeks quality over quantity when it comes to growth

Europe’s debt crisis has not daunted Chartis, a division of AIG that operates in the property and casualty insurance market. The company continues to seek opportunities for growth despite the economic turmoil currently faced by a number of nations in the region. While lucrative opportunities seem to be in abundance, the insurer is taking a “quality over quantity” approach. CEO Peter Hancock notes that this strategy will help the insurer protect itself from industry hype in markets that may be more volatile in the future than they are today. In…

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