New York's financial regulator has asked Lloyd's Banking Group and Swiss RE for details about dealings linked to Iran as part of a probe into 20 non-US reinsurance firms, the Wall Street Journal reported.
Citing a copy of
Natural disasters like March's earthquake in Japan will cost the global economy a record $350 billion this year, with losses for the insurance industry second only to 2005 when Hurricane Katrina hit New Orleans, Swiss Re said.
Natural catastrophes and man-made disasters cost the insurance industry $43 billion in 2010, Swiss Re, the world's second-biggest reinsurer, said on Tuesday, revising up an earlier estimate.
Swiss Re also revised down its estimate of w
Swiss Re posted a surprise second-quarter net loss on Wednesday as charges on corporate bond hedges, securitised products and its own credit spreads ate up healthy operating returns.
Zurich-based Swiss Re said it made a net loss of 381 mil
Credit Suisse and Swiss Re both announced the appointment of new chairmen on Monday, shifting executives in an effort to limit the impact of the financial crisis.
Walter Kielholz will step down as chairman at bank Credit Suisse to focus on
Swiss Re, the world's biggest reinsurer, posted a net loss of 864 million Swiss francs ($735.63 million) and 5.9 billion francs in writedowns for 2008, and said it aims to maintain capital in the AA range in the long-term.
The company is t
Swiss Re wrote down 6 billion Swiss francs ($5.25 billion) in toxic assets and said Warren Buffett was investing 3 billion Swiss francs as its shareholder's equity dipped to an uncomfortable level.
The world's second-largest reinsu
Swiss Re, the world's second-biggest reinsurer, reported a surprise third-quarter net loss of 304 million Swiss francs ($263.2 million), hurt by investment losses.
Zurich-based Swiss Re said on Tuesday it wrote down another 572 million Swi
The UAE mortgage market – currently valued at Dh20 billion ($5.4 billion) – is estimated grow to Dh64 billion within the next three years alone and life insurance premiums to grow 18 per cent annually, it has emerged.
For the UAE, new rese