Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Flood Losses Dominate Disaster Count in 1st Half of 2013: Munich Re
Jul 9 2013 // Floods caused billions of dollars in losses and dominated the natural catastrophe statistics for the first half of 2013, according to a study released by Munich Re. “Around 47 percent of the overall losses and 45...
Retailers Plan Bangladesh Factory Inspections under Safety Pact
Jul 9 2013 // A group of mainly European retailers has finalized a plan to conduct coordinated inspections of factories in Bangladesh in an attempt to prevent a repeat of the Rana Plaza disaster that killed 1,129 people in April. The...
Swiss Re Estimates Europe Flood Claims at $300 Mn; Overall Losses $3.5-$4.5 Bn
Jul 8 2013 // Swiss Re has estimated that its claims burden from recent flooding in central and Eastern Europe is approximately $300 million, net of retrocession and before tax. Industry-wide insured losses are estimated to be between...
In Past Decade, World Experienced Unprecedented Climate Extremes: WMO
Jul 3 2013 // The world suffered unprecedented climate extremes in the decade to 2010, from heatwaves in Europe and droughts in Australia to floods in Pakistan, against a backdrop of global warming, a United Nations report said on...
Markel Promotes Richardson to European Retail Claims Manager
Jul 2 2013 // London-based specialty insurer Markel International Limited has appointed Mike Richardson as European retail claims manager. Previously claims manager for Markel International’s UK retail division, a position he held...
U.S. Suspends Trade Benefits for Bangladesh Over Workplace Safety
Jun 28 2013 // President Barack Obama on Thursday cut off longtime U.S. trade benefits for Bangladesh in a mostly symbolic response to dangerous conditions in that country’s garment industry that have cost more than 1,200 lives in...
Ratings Roundup: AEGIS, SOGAZ, African Re, Delvag
Jun 26 2013 // A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Bermuda-based Associated Electric & Gas Insurance Services Limited (AEGIS), and...
Best Europe Affirms Lloyd’s Syndicate 1225 Ratings; Outlook Stable
Jun 25 2013 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 1225, which is...
Ratings Recap: American European, Liberty Mutual (Notes), Pacific Comp., IFA
Jun 20 2013 // A.M. Best Co. has downgraded the financial strength rating to ‘B’ (Fair) from ‘B+’ (Good) and issuer credit rating to “bb+” from “bbb-” for American European Insurance...
FERMA: ‘Disclosure’ Alone Not Enough to Control Companies’ Social Risks
Jun 20 2013 // “Public disclosure of a company’s social issues is good, but by itself does not show that the risks are under control,” the Federation of European Risk Management Associations (FERMA) has told the...
AIR Estimates Insured German Flood Losses between $5.28 and $7.66 Billion
Jun 20 2013 // Catastrophe modeling firm AIR Worldwide estimates that insured losses in Germany from the recent floods in Central Europe are between €4.0 billion [$5.28 billion] and €5.8 billion [$7.66 billion]. The overall economic...
XL Appoints Devaux-Piquer Casualty Underwriting Manager Europe, Reinsurance
Jun 18 2013 // The XL Group announced that it has appointed Valérie Devaux-Piquer to the position of Casualty Underwriting Manager, Europe, Reinsurance, effective Sept. 1, 2013. She will take the place of Dieter Kohl, who retires this...
MAPFRE GLOBAL RISKS Aims to Strengthen European Presence
Jun 18 2013 // MAPFRE GLOBAL RISKS announced plans to “enter into new markets and grow in those where it has not consolidated its presence yet,” beginning with efforts to “increase its business operations in...
EU, U.S. Leaders Launch Free-Trade Talks
Jun 17 2013 // The United States and the European Union launched negotiations for the world’s most ambitious free-trade deal on Monday, promising thousands of new jobs and accelerated growth on both sides of the Atlantic. Trade...
Best Revises Outlook to Positive, Affirms Ratings of ACE European Group Ltd.
Jun 17 2013 // Following its ratings report for the ACE Ltd. Group, A.M. Best Europe – Rating Services Limited has revised the outlook to positive from stable and affirmed the financial strength rating of ‘A+’ (Superior)...
Ratings Roundup: AM France, Arab Orient, Gulf Insurance Co.
Jun 14 2013 // A.M. Best Europe – Rating Services Limited has upgraded the financial strength rating to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit rating to “a” from “a-” of...
Allianz Estimates Its European Flood Losses at 350 Million Euros
Jun 14 2013 // Allianz SE, Europe’s biggest insurer, said preliminary estimates show its net losses from the flood claims in Germany, Austria and part of Central Europe are 350 million euros ($467 million). The gross impact, before...
Federal Insurance Regulator Releases Annual Report
Jun 12 2013 // The U.S. Department of the Treasury’s Federal Insurance Office (FIO) today released its annual report on the insurance industry to the President and Congress. Under the Dodd-Frank Wall Street Reform and Consumer...
PERILS Provides Satellite Flood ‘Footprints’ for Central Europe
Jun 10 2013 // PERILS AG, the independent Zurich-based company that provides industry-wide catastrophe insurance data, announced the release of satellite-based flood footprints for the ongoing floods in Central Europe, concentrated on...
Insured Losses from Europe Floods Estimated at $2.65B, Less Than in 2002
Jun 7 2013 // The losses insurers face from the worst flooding in central Europe since 2002 may be lower than those resulting from the deluge 11 years ago even as the toll on local economies looms larger. Insured losses may reach 2...
