International Monetary Fund claims global economy is improving due to international cooperation

The global economy is showing significant signs of improvement, according to International Monetary Fund (IMF) Director Christine Lagarde. Lagarde traveled to Beijing this week to discuss the economic improvements that are being seen all over the world. Much of the improvements come from bold moves made in the insurance industry as a way to remedy the European financial crisis. With the help of insurers and reinsurers, the European Union was able to conduct the largest debt restructure in history and pull Greece from the brink of economic calamity. Lagarde notes…

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1 in 10 European insurance companies fail stress test despite a robust market

The European insurance industry is in a state of flux, according to a new study from the European Insurance and Occupational Pensions Authority (EIOPA). The organizations recently conducted a stress test of nearly 130 as yet unidentified insurers. The test showed that the insurance market is quite robust, which means that most insurers are able to procure new clients and produce significant revenue. However, the thirteen unnamed insurance companies failed the test. Based upon its findings, the EIOPA estimates that these insurers would not be able to handle the impact…

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