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The company's statistics show that "globally, the average number of major weather-related catastrophes such as wind storms, floods or droughts is now three times as high as at the beginning of the 1980's." "Losses have risen even more, with average increases...
Tags: Munich Re AG, Denmark, Copenhagen, Environment, Climate change, Global warming, Insurance, Carbon finance, Actuarial science, Economics of global warming, Reinsurance, Drought, Disaster Accident, Types of insurance
German government tax revenue is expected to fall about euro3 billion ($4.4 billion) short of previous estimates this year, the Finance Ministry said Thursday, but the new governing coalition vowed to press ahead with tax-cutting plans. Germany's economy,...
Tags: Munich Re AG, million euros, Munich Re Returns, Telefonica, billion euros, CBS Corp., CBS Returns, commercial use, Telecom Italia, HanseNet
Munich Re, the world's biggest reinsurance company, posted on Tuesday a better than expected second quarter net profit and said it had suffered limited effects from the global economic crisis. The group reported a 14 per cent rise in net profit to 691...
German industrial gas company Linde AG said Monday its net profit for the second quarter fell 38 percent, blaming one-time charges, a difficult market environment, and falling business volumes in the recession. The Munich-based company said its net profit...
Tags: net profit, Reinsurer Munich Re, Munich Re AG, Linde AG, industrial gas
German automaker BMW fell into a loss early this year on weak demand for luxury cars, and expects tough going into 2010, but its results surprised analysts on Wednesday and its shares surged. BMW made a first-quarter net loss of 152 million euros (202...
Tags: net loss, BMW AG, quarter net, net profit, million euro, Munich Re AG, chief executive, luxury cars, billion euro
This makes 2008 the third most expensive year on record, after 1995, when the Kobe earthquake struck Japan, and 2005, the year of Hurricane Katrina in the US. Torsten Jeworrek of Munich Re said the pattern continued a long-term trend already observed....
Tags: disasters, cost, natural disaster, Munich Re AG, climate change, disaster killed