Hannover Rueck SE
Europe markets rally on hopes of an end to U.S. government shutdown
LONDON — European stocks rallied at the start of the new trading week as a deal on a funding package that could end the U.S. government shutdown appears to be getting closer. The pan-European Stoxx 600 was up 0.8% shortly after the opening bell, with almost all major bourses and sectors in positive territory. The […]
Read More
European insurance giants take $3.5 billion hit from Los Angeles wildfires — beating estimates
Financial losses stemming from the California wildfires earlier this year have risen to at least $3.5 billion for European insurance giants, according to CNBC’s calculations. The insured losses, mainly from reinsurance claims, are being borne by 10 large, listed firms in Europe, mainly centered in Germany, the U.K., Switzerland and France. Germany-listed Munich Re and […]
Read More
German reinsurers took a $1.9 billion profit hit from LA wildfires in first quarter
An aerial view of homes destroyed in the Palisades Fire on January 27, 2025 in Pacific Palisades, California. Mario Tama | Getty Images Germany’s biggest reinsurers took a $1.9 billion profit hit in the first quarter from claims related to the recent Los Angeles wildfires. Munich Re, the world’s largest reinsurance company, said Tuesday that […]
Read More
European markets higher despite global trade uncertainty
Deutsche Bank names autos as ‘growing risk’ for its portfolio Deutsche Bank flagged autos as a “growing risk” for its portfolio that is being “monitored closely given the challenging economic environment in Europe, Electric Vehicles (EV) transition and competition in China,” Germany’s largest lender said in its annual report out Thursday. Europe’s auto sector now […]
Read More
LA fires could hit European insurance giants with about billion euros in losses
The wildfires around Los Angeles are set to cost European insurance giants up to a billion euros in payouts this year. Millions of people have been displaced, thousands of homes and buildings have been destroyed and at least five people have been reported dead due to the wildfires. While total economic loss due to the […]
Read More
A recession seems to be progressively possible. But Goldman Sachs states these stocks could beat the gloom
Central banking institutions are relentlessly climbing interest premiums to rein in inflation — even at the expenditure of financial expansion — prompting fears of a recession. Goldman Sachs reported it believes the United States is established for a “soft landing. The bank’s main European economist Jari Stehn expects Europe to tip into a recession this […]
Read More