European market News

EU Court Sides With Car Service Firms in Data Fight With Sweden Truck Maker Scania

Swedish truck maker Scania must share car data, such as vehicle identification numbers, with repair shops and parts distributors, Europe’s top court said on Thursday in a ruling that could provide a boost for the latter looking to tap a …

Businesses Criticize New EU Data Rules, Saying They Could Hinder Data Flow

Businesses and Big Tech on Wednesday criticized European Union data rules agreed between EU countries and lawmakers, saying they could hinder data flow and contractual freedom, while a pan-European consumer group said they did little for Europeans. The Data Act, …

Car Services Groups Warn of Unfair Competition as EU Data Plan Stalls

Car services groups on Friday warned a stalled EU proposal to ensure fair access to valuable vehicle data could pave the way for unfair competition from U.S. and Chinese tech companies. The vehicle data tussle between carmakers and a coalition …

Insurers, Leasing Firms Push European Commission for Access to Valuable Vehicle Data

A broad coalition of insurers, leasing companies, car repair shops and others are calling on the European Commission to propose rules for fair access to valuable vehicle data soon, fearing further delays could see the initiative shelved after European Parliament …

Rising Inflation to Hit Profits of European P/C Insurers: GlobalData

Rising inflation in Europe, which jumped to 8.9% in July 2022, the highest in 25 years, will hurt the profitability of property/casualty insurers in 2022-24, according to the London-based data and analytics company GlobalData. Premium growth is expected to be …

People Moves: Mosaic Builds Out International Cyber Team; Howden Appoints 19 for Construction Division Across EMEA

Mosaic Expands Cyber Team in UK Bermuda-based Mosaic Insurance has expanded its cyber-security business line internationally, with the addition of new team members to its UK-based unit. The specialty insurer began underwriting global cyber coverage from Chicago April 1, just …

EU Plans to Ease Capital Rules for Insurers to Provide €120 Billion Economic Boost

The European Union proposed changing the bloc’s capital rules for insurers on Wednesday to release 120 billion euros ($141 billion) for repairing an economy hit by COVID and to meet climate goals without eroding policyholder protection. Britain, which is home …

Liberty Global Transaction Solutions Group Reorganizes EMEA Team, Led by Messinger

Liberty Global Transaction Solutions (GTS), part of Liberty Mutual Insurance, has announced a suite of team changes in EMEA. The appointments create a new regionalized structure for EMEA under the new leadership of Markus Messinger, who has been appointed head …

EU to Update Workplace Safety Rules, Reflecting Shift to Home Working During COVID

BRUSSELS – The European Commission plans to update its rules on worker safety to reflect the shift millions employees made to working from home during the COVID-19 pandemic and to reflect the anticipated digital and green recovery. During the pandemic, …

People Moves: Howden Hires Sturani and Nanni from Aon; WTW’s Young to Head M&A at Hamilton; Ballantyne Brokers Adds 2 More Senior Roles

Howden, the London-based international insurance broker, announced that Luigi Sturani has been appointed chief executive officer, Europe, along with Enrico Nanni who joins his team as chief commercial officer, Europe, in two newly created roles for the company. The appointments …