Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
CME, SIX to Provide Collateral Management Services to Swiss Insurers
May 12 2014 // CME Group Inc.’s European clearinghouse and SIX Group’s central-securities depository have agreed to offer an integrated collateral-management service to insurance companies operating in Switzerland. Once the...
RSA Insurance Reports 15% Drop in Q1 Premiums amid Asset Sales
May 8 2014 // The RSA Insurance Group Plc reported a 15 percent decline in revenue for the first quarter after the U.K.’s biggest non-life insurer by market value sold assets to bolster its balance sheet. Net written premiums, a...
Müller to Head New Allied World Europe Onshore Construction Unit
May 2 2014 // Allied World Europe has launched an Onshore Construction insurance line of business and appointed Alf Müller as senior vice president to lead the team. He will be responsible for building the line of business and...
RRJ, Temasek to Invest $1.8 Billion in ING Insurance Unit
May 1 2014 // RRJ Capital Ltd., run by Charles Ong, and his former employer Temasek Holdings Pte, have agreed to invest €1.28 billion ($1.8 billion) in ING Groep NV’s NN insurance business before the unit’s initial public...
U.S. Chamber, BUSINESSEUROPE Urge TTIP Agreement Adoption
May 1 2014 // U.S. Chamber of Commerce President and CEO Thomas J. Donohue recently met with BUSINESSEUROPE President Emma Marcegaglia and Director General Markus Beyrer, as well as leaders of business federations and companies from...
EU Exit Could ‘Wreck’ London as Financial Capital, Says City Lobby Group
Apr 29 2014 // If the UK exits the European Union, it could wreck London’s position as the only financial center to rival New York and isolate the country’s economy, research ordered by a lobby group for banks and money...
Report: Former EU Banker Urges Reactivate Securitization to Enhance Credit
Apr 22 2014 // Jacques de Larosiere says he is an isolated and modest man. Yet the 84-year-old former head of the International Monetary Fund is one of the most influential voices in European and global finance. An eminence grise as...
Poland’s PZU to Pay $498 Million for RSA’s Eastern European Units
Apr 17 2014 // PZU SA, central Europe’s largest insurer by market value, agreed to buy RSA Insurance Group Plc’s four units in the biggest foreign acquisition by a Polish financial company. PZU will pay a combined €360...
Ratings Recap: Samsung Europe, Transmonde, MAPFRE PRAICO, Ocaso
Apr 15 2014 // A.M. Best has affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit rating of “a” of UK-based Samsung Fire & Marine Insurance Company of Europe, Limited (SFME), both...
European Insurers Shifting Investments Into Loan Market, Acting Like Banks: Moody’s
Apr 9 2014 // European insurers such as Allianz SE and Axa SA are shifting investments into the loan market, taking business from banks that are being forced to increase capital and meet tougher regulations, Moody’s Investors...
IMF Sees Global Growth Gaining Along with Rising Risks in Emerging Economies
Apr 8 2014 // The International Monetary Fund on Tuesday predicted the global recovery would strengthen this year as output in richer nations picked up, but it warned of rising risks in emerging economies. In its latest global economic...
PERILS Issues Updated Europe Industry Exposure Database for 2014
Apr 1 2014 // Zurich-based PERILS AG, announced the release of the 2014 update of the PERILS Europe Industry Exposure Database, which, it said, “contains updated market-wide property sums insured for European windstorm for the...
Italy, France Threaten European Growth: Swiss Re Economist Kurt Karl
Apr 1 2014 // The lack of structural measures in large economies including France and Italy present the biggest threat to growth in the euro area, Swiss Re Ltd.’s Chief Economist Kurt Karl said. The region’s economy will...
Chubb Appoints Barr as European Environmental Manager
Apr 1 2014 // Chubb Insurance Company of Europe SE announced the appointment of David Barr to the role of European Environmental Manager. Fred Shurbaji, Chubb European Commercial Manager, explained that Barr “will be responsible...
Allied World Approved to Launch New Managing Agency at Lloyd’s
Mar 31 2014 // Allied World Assurance Company Holdings, AG announced that it has received approval from Lloyd’s, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) to establish its own Lloyd’s...
FERMA Calls for Caution on EU Insurance Contract Law Changes
Mar 28 2014 // The Federation of European Risk Management Associations (FERMA) has released a bulletin calling for “a cautious approach to any changes to the regulatory treatment of differences between EU national insurance...
Old Mutual Sells Skandia Units as It Pares European Operations
Mar 27 2014 // Old Mutual Plc, Africa’s biggest insurer, is selling its Skandia units in Germany and Austria for €220 million ($303 million) in cash. The two businesses, part of the London-based insurer’s wealth division,...
308 Disaster Events; $140 Billion Economic Losses in 2013: Swiss Re Report
Mar 26 2014 // Swiss Re’s latest sigma report highlights the 308 disaster events in 2013, of which 150 were natural catastrophes and 158 man-made. Almost 26 000 people lost their lives or went missing in the disasters. The biggest...
Chubb Appoints Draper as UK & Ireland Casualty Manager
Mar 24 2014 // Chubb Insurance Company of Europe SE has announced the appointment of Dave Draper to the role of UK & Ireland Casualty Manager. Andy Francis, Chubb UK & Ireland Commercial Manager noted his “experience and...
Malaysia Jet Search Highlights Doubts over Air Traffic Radar
Mar 24 2014 // The ease with which a big jetliner melted into the ether after vanishing from Malaysian radar illustrates an uncomfortable paradox about modern aviation: state-of-the-art airplanes rely on ageing ground infrastructure to...
