Arab Reinsurance Company: a new dimension
Home   |   Sitemap   |   Contact us
Follow us on
Is Climate Litigation Covered by Insurance? - Social Inflation or Science: What Is Fueling Climate Litigation? - Fortegra Europe Opens Branch in Czech Republic - Vantage launches Construction and Political risk business - UK Insurers Cautiously Willing to Underwrite Fire Safety Risks - Insurtech Foxquilt Raises $8M to Expand Small Business Offering in U.S. and Canada - Speciality Re/Insurer Convex Launches European Subsidiary With A- Rating From S&P - Debt surge in emerging markets may hurt insurance outlook: Swiss Re - Zurich Insurance Weighs Selling Some Australian Non-Core Assets - Reinsurers Face Major Claims Uncertainties, but Reap Benefits of Pricing Tailwinds - Corvus, SiriusPoint announce investment & underwriting capacity partnership - Munich Re backs energy storage systems provider ESS - Climate Change Could Force 200 Million People to Leave Their Homes by 2050 - Work of the scientific community and re/insurers needed to assess climate change: Lloyd’s - Gallagher Re Touts Advanced Integrated Reinsurance Analytics Platform - London Financial Employees Return to Offices Despite Rising Virus Cases - P/C Reinsurers Maintain Underwriting Discipline, Despite Rising Capacity: Guy Carpenter - Britain Looks to Revisit Data Privacy Regulations - WTW, Applied Systems target real-time pricing enhancements - Reinsurance environment “most attractive in a decade”: SCOR’s Launay - Willis Towers Watson’s New CEO Says It Has $5 Billion for Possible Acquisitions - Lloyd’s Reports H1 2021 Profit of £1.4B ($1.9B), with 92.2% Combined Ratio - Global Reinsurers Shoulder ‘Considerable Burden’ of COVID-19 Claims - “Inflation is the enemy of the re/insurance industry,” says Swiss Re CFO Léger - Global Reinsurance Rates, Demand to Continue Rising in 2022: Moody’s - Prudential’s Michael Koller joins MS Amlin as Chief Risk Officer - Rates need to and will harden further: Swiss Re CEO Mumenthaler - Russia’s Renaissance Insurance Plans $1 Billion IPO in Moscow: Reuters
Search Search
World News & Events
Enlarge Font Minimize Font

France in recession and Spain sees record GDP decline

Saturday, 05 02 2020, Category: Economy, Country: Europe
France and Italy entered a recession in the first three months of this year while Spain's GDP plunged sharply, new data on COVID-19's impact on European economies indicates.

The preliminary growth figures for Europe come just a day after US authorities revealed the country's GDP had contracted for the first time since 2014.

French GDP fell by 5.8 per cent in the first quarter, "the biggest drop" since 1949 the country's INSEE statistics agency said on Thursday as it unveiled its first estimate.

It flagged for instance that the decrease is much sharper than the 1.6% contraction observed in the first quarter of 2009 when the financial crisis hit.

"GDP’s negative evolution in Q1 2020 is primarily linked to the shut-down of 'non-essential' activities in the context of the implementation of the lockdown since mid-March," INSEE said.

The Spanish economy contracted by 5.2 per cent compared the previous quarter, the INE statistics agency said on Thursday.

This is the worst reading since records began in the 1970s.

"The situation caused by COVID-19 in Spain and the impact of measures taken to protect the health of the population since March have introduced an extraordinary difficulty to measure the economic evolution of the whole of the quarter," INE flagged in a statement accompanying its flash estimate.

Spain is the third most impacted country in Europe behind Italy and the UK. More than 24,200 people are now to have died from the virus in the country.


Source: euronews
All copyrights reserved, Arab Reinsurance 2016 ©