Citigroup Inc. Chief Executive Officer Jane Fraser warned that there’s a risk to the growing number of insurers piling funds into direct lending opportunities. It’s one of many risks tied to the rise of the private credit industry that Fraser’s …
The European Central Bank’s cybersecurity stress test next year won’t have a direct impact on capital requirements, limiting the exercise’s potential repercussions for investor payouts. The test will be a learning experience for lenders and the supervisor, ECB officials said …
The rapidly unfolding crises of confidence at Credit Suisse Group AG and Silicon Valley Bank are prompting some regulators gathered at the European Central Bank to rethink their treatment of liquidity risk. The watchdogs are in the early stages of …
Europe’s landmark test of banks’ resilience to global warming was far softer than many lenders had expected, according to people familiar with the matter. Even the toughest hypothetical scenarios in the European Central Bank’s climate stress test didn’t result in …
The world’s top financial regulators want to coordinate efforts to prepare for potential risks from climate change as authorities still lack common standards for assessing what could be one of the biggest threats facing banks and insurers. The Financial Stability …
Allianz SE is turning its back on coal as returns evaporate from energy generation that is harmful to the environment. Europe’s largest insurer plans to exit holdings in mining companies and utilities that derive more than 30 percent of their …
Allianz SE, Europe’s largest insurer, aims to generate an additional 6.5 billion euros ($6.9 billion) in annual premiums as the company focuses on its most profitable businesses. Allianz wants to achieve annual earnings per share growth of 5 percent on …
Allianz SE, Europe’s biggest insurer, said third-quarter profit dropped 15 percent as earnings at its property and casualty and asset management units declined. Net income fell to 1.36 billion euros ($1.48 billion) from 1.61 billion euros [$1.7 billion] a year …
Munich Re, the world’s biggest reinsurer, said third-quarter profit slumped 29 percent on a decline in earnings from investments. Net income declined to 520 million euros [$567.8 million] in the three months through September from 733 million euros [$800.4 million] …
Munich Re, the world’s biggest reinsurer, raised its full-year profit target after net income beat analyst estimates on lower catastrophe claims. The shares rose. Net income rose to 1.07 billion euros [$1.14 billion] in the second quarter from 758 million …
