Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Ratings Recap: GIG-Egypt, Univé Her, Infrassure
Apr 19 2013 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘B++’ (Good) and issuer credit rating of “bbb” of Arab Misr Insurance Group S.A.E. (GIG-Egypt), both with...
Chubb Europe Makes Management Changes; Marcello for Financial Lines
Apr 16 2013 // Chubb Insurance Company of Europe announced two appointments in its financial lines business. Julie Marcello has been named to the role of European Chubb Specialty Insurance Manager. Chubb Specialty Insurance (CSI) manages...
Best Affirms Samsung Fire & Marine Insurance Company of Europe Ratings
Apr 15 2013 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of UK-based Samsung Fire & Marine Insurance Company of...
PCI Urges Progress on U.S.-EU Trade Pact for Trans-Atlantic Insurance Market
Apr 12 2013 // The Property Casualty Insurers Association of America (PCI) has issued a statement urging negotiators to make progress on enhancing the proposed U.S.-EU Trade agreement to include mutual recognition of the U.S. and EU...
U.S. Chamber Joins Partners to Support Transatlantic Trade Agreement
Apr 11 2013 // The U.S. Chamber of Commerce said it has “joined with its partners in the Business Coalition for Transatlantic Trade (BCTT) and leaders in government from both the U.S. and EU for an event to formally launch the...
Joint Bonds Needed to Save the Euro Says George Soros
Apr 11 2013 // All euro zone governments need to issue bonds jointly to ensure that the common currency survives the sovereign debt crisis, investor George Soros said on Tuesday. Soros, a liberal philanthropist who rose to fame as an...
U.S. Aims to Reshape World Trade Rules with Regional Pacts Says VP Biden
Apr 10 2013 // The United States hopes to use a proposed regional free trade agreement in the Asia-Pacific and another with the European Union to reshape global rules for trade, Vice President Joe Biden said on Friday. “Our goal is...
ABI Warns Travel Sickness Could Cost Uninsured Brits over $1,300
Apr 9 2013 // Uninsured British travelers who fall ill on their holiday this summer could face an average extra £900 [$1,376] holiday bill according to the Association of British Insurers. The ABI’s bulletin noted that...
German Minister Says Tax Haven Report Will ‘Increase Pressure’
Apr 5 2013 // German Finance Minister Wolfgang Schaeuble said on Friday he was glad the identities of thousands of holders of bank accounts in tax havens had been leaked because it would help do away with a business model that Cyprus...
Aon Benfield Cat Report: Severe Winter Causes $1.8bn Econ. Loss in Europe
Apr 5 2013 // The latest catastrophe report for the month of March from Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, highlights the sub-freezing temperatures across Europe, which have...
India Plans Reinsurance Pool to Cover Refiners Handling Iran Oil
Apr 3 2013 // India plans to set up a fund of up to 20 billion rupees ($368.4 million) to back local insurers in offering cover to refiners who process Iranian crude, three government sources said, as sanctions discourage global...
PERILS Updates European Cat Exposure Database for 2013; 1.9% Rise in Values
Apr 2 2013 // PERILS AG, the independent Zurich-based company providing industry-wide European catastrophe insurance data, has released an update for 2013 of its European Industry Exposure Database, which contains updated market-wide...
Investors Wary of ‘Slow Panic’ on Growth after Cyprus Rescue
Apr 1 2013 // World markets have reacted calmly to the twists and turns of Cyprus’s financial rescue in the last fortnight but many investors fear the economic fallout is yet to come. They have sold European assets, rather than...
Allianz Teams with Borealis Infrastructure to Buy Czech Gas Pipeline Operator
Apr 1 2013 // Germany’s Allianz SE has partnered with Borealis Infrastructure, the infrastructure investment arm of the Ontario Municipal Employees Retirement System (OMERS), to acquire Czech Republic pipeline firm N4G. Each will...
Ratings Recap: Ansvar, ARABIA (Jordan), ARABIA (Lebanon), ARABIA (Saudi Arabia), Transmonde
Mar 29 2013 // A.M. Best Asia-Pacific Limited has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Australia’s Ansvar Insurance Limited, both with stable...
Allianz Seals Deal with Turkey’s Yapı Kredi for Insurance Acquisition/Distribution
Mar 28 2013 // Germany’s Allianz announced that it has reached an agreement with Turkey’s Yapı Kredi for a 15-year exclusive distribution agreement and for Allianz to acquire Yapı Kredi Sigorta, the property and casualty...
Austerity Threatens Europe’s Competitive Edge in Infrastructure
Mar 28 2013 // Europe’s carefully maintained autobahns, high-speed TGV trains and vast network of modern airports have long been the envy of the world. But thanks to austerity budgets that are slashing infrastructure spending just...
France Threatens to Delay Quick Start of EU-U.S. Trade Talks
Mar 26 2013 // France threatened on Monday to delay the swift start of EU-U.S. trade talks if its red lines on culture and farm produce are not respected. Brussels and Washington hope to start negotiations in June on a transatlantic...
Last Ditch Cyprus Bank Deal Brings Little Relief; Much Uncertainty
Mar 25 2013 // At a Cypriot pawnbroker, one of the few growth industries in Europe’s debt-ridden south, someone had vented the anger of an island: “Thieves” was scrawled across the window, in bright red paint. The...
Supreme Court to Hear Drugmakers’ ‘Pay for Delay’ of Generic Products Case
Mar 22 2013 // The U.S. Supreme Court will hear arguments on Monday over whether big drug companies can settle patent litigation with generic rivals by making deals to keep cheaper products off the market. U.S. and state regulators say...
