http://www.cnbc.com/2016/03/16/reuters-america-munich-re-stashes-gold-and-cash-to-counter-negative-rates.html
German reinsurer Munich Re is boosting its gold and cash reserves in
the face of the punishing negative interest rates from the European
Central Bank, it said on Wednesday.
The world's largest reinsurer is far
from alone in seeking alternative investment strategies to counter the
near-zero or negative interest rates that reduce the income insurers
require to pay out on policies.
Munich Re has held gold in its
coffers for some time and recently added a cash sum in in the two-digit
million euros, Chief Executive Nikolaus von Bomhard told a news
conference.
"We are just trying it out, but you can see how serious the situation is," von Bomhard said.
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