Insurance News

Posts Tagged ‘Capital

NEW YORK (Reuters) – As hurricane season kicks off and the economic recession continues to take a toll on economies worldwide, reinsurers must make sure they are sitting on a bigger capital cushion, said executives at an insurance conference on Tuesday.

“This is the year you don’t bet the bank. You preserve capital,” said John Charman, chief executive of Bermuda-based insurer and reinsurer Axis Capital (AXS.N: Quote, Profile, Research, Read the rest of this entry »

April 28 (Bloomberg) — European stocks retreated on concern that banks may need to raise additional capital and the outbreak of swine flu will hinder an economic recovery.

BNP Paribas SA and Credit Suisse Group AG dropped more than 3 percent after the Wall Street Journal reported that Bank of America Corp. and Citigroup Inc. may require more cash following the completion of government stress tests. BHP Billiton Ltd. and ArcelorMittal Read the rest of this entry »