Allianz
German insurer and bank credit spreads hit by downgrade fears
The cost of protection for German reinsurance company Munich Re and German banks Deutsche, Commerzbank and Dresdner widened today following negative rating and outlook changes by Moody's Investor Services.
European credit protection widens in low liquidity
Liquidity in the European credit derivatives market remained weak following the US Labor Day holiday this week, with traders saying spreads "drifted outwards" following yesterday’s poor equity markets performance.
US credit protection narrows following Wall Street equity rally
The price of credit default swaps for major US names tightened this week following two days of equity purchasing on Wall Street.
European insurers in joint effort to cover ‘terror risks’
Leading European insurance groups are set to combine resources to establish a Luxembourg-based company to cover property against acts of terrorism.