financial crisis News

Behind Allianz’s $4 Billion Fund Blowup, Red Flags and Fat Fees

It’s every investor’s dream: Make money when markets go up, and when markets go down, and even when markets go practically nowhere. But inside Allianz SE, where a handful of hedge fund managers claimed they could do just that, few …

Global Insurance Recovery Will Be Faster, Stronger Than in 2008–Swiss Re

NEW YORK — The global insurance industry is poised to recover more quickly and forcefully from the pandemic than it did after the 2008 financial crisis, despite such obstacles as low interest rates and inflation risk, insurer Swiss Re AG’s …

How California’s Wildfires Could Spark a Financial Crisis

Wildfires across the U.S. West are among the sparks from climate change that could ignite a U.S. financial crisis by damaging home values, state tourism and local government budgets, an advisory panel to a U.S. markets regulator found. Those effects …

Driving Hasn’t Found Its New Normal Yet

Memorial Day weekend, the typical start of the U.S. summer driving season, has come and gone. Data on just how much driving Americans did is trickling in, and it’s a bit noisy. Apple mobility trends show searches for directions down …

Viewpoint: The Coronavirus May Be Worse Than a Natural Disaster

Everyone is wondering when China will return to work. While it may be tempting to consider past epidemics or labor strikes to gauge how quickly that could happen, the industrial shutdown from the coronavirus is looking more like a natural …

Munich Re Profits Plunge Amid Multiple Disasters

Reinsurer Munich Re says a series of severe earthquakes and other natural catastrophes combined with the European debt crisis has sent its profits plunging in 2011. The reinsurer, which writes backup insurance for primary insurers, said Thursday it still managed …