by AIP Online Bureau | Mar 17, 2022 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
“Existing contracts in Russia and Belarus will not be renewed,” the Munich-based company said on its website Wednesday. The same applies to Munich Re’s investments in the region Exceptions will only be made if ending business “would negatively affect persons or...
by AIP Online Bureau | Mar 16, 2022 | International News, Non-Life, Reinsurance
The development underscores Beijing’s efforts behind the scenes to minimize risk to its own institutions even as it continues to maintain strong trade ties with Russia in the face of crippling sanctions imposed by the West on that country Beijing: China has told top...
by AIP Online Bureau | Mar 16, 2022 | International News, Non-Life, Reinsurance
“We’ll keep deploying our expertise, resources and networks – covering crucial areas like cyber, space and political risk – to help deliver an effective sanctions regime against Russian assets,” Lloyd’s said in a statement on its website dated March...
by AIP Online Bureau | Mar 14, 2022 | Eco/Invest/Demography, International News, Non-Life, Policy, Reinsurance
Insurance broker Willis Towers Watson also said on Sunday it would withdraw from Russia, following similar moves by rivals Marsh and Aon FRANKFURT: FRANKFURT/LONDON/ZURICH: Allianz and Swiss Re said on Monday they were cutting back on Russian business as European...
by AIP Online Bureau | Mar 14, 2022 | Eco/Invest/Demography, International News
Kristalina Georgieva, Managing Director,International Monetary Fund The total exposure of banks to Russia amounted to around $120 billion, an amount that while not insignificant, was “not systemically relevant,” Russia may default on its debts in the wake...
