insurancemarket
Shares in German reinsurance giant Munich Re rose on Wednesday after the company announced its first-quarter (Q1) 2024 results, clocking in a net profit of €2.14 billion, which was almost a 70% jump from the €1.2 billion seen in Q1 2023. This was mainly due to major-loss expenditure being less than anticipated, as well as a robust operational performance across the board - and investments yielding high returns. Insurance revenue from insurance contracts also increased to €15.1 billion in Q1 2024 from €14.2 billion in the first quarter of 2023. This was mainly due to the reinsurance sector seei...
Euronews (English)
US-based insurers invested hundreds of billions of dollars in fossil fuel companies that contribute to increased climate risks, a report from last year revealed. Without insurance cover, drilling for oil and gas would struggle to continue. Over two-thirds of the US’ insurers surveyed held fossil fuel-related assets worth $536 billion (€493 billion) in 2019. The numbers are likely to be similar for subsequent years, according to sustainability consultancy ERM, investor advocacy group Ceres and carbon accounting firm Persefoni. Now, activists are increasingly calling out insurance companies for ...
Euronews (English)
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