Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
PERILS Updates Europe Industry Exposure Database for 2012
Apr 2 2012 // PERILS AG, the independent Zurich-based company providing industry-wide European catastrophe insurance data, has updated its Europe Industry Exposure Database with revised “market-wide property sums insured for...
IBM’s Algorithmics, Insurers Analyze Solvency II Compliance Preparation
Mar 30 2012 // Despite delays and complaints the European Union’s Solvency II regulations, which cover the insurance industry, are slowly but surely moving forward. While most of the industry is primarily concerned with the...
Iran Oil Costs to Surge with EU Ship Insurance Ban
Mar 29 2012 // A widely expected ban on European insurance cover for Iranian oil exports from July 1 is threatening to curtail shipments and raise costs for major buyers such as Japan and South Korea, insurance industry sources say. Last...
Ratings Recap: Saturn, CCR, Arch (Pref. Shares)
Mar 29 2012 // A.M. Best Europe – Rating Services Limited has assigned a financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” to Vermont-based Saturn Insurance Inc., and has assigned a...
Lloyd’s CEO Ward on 2011 Loss: ‘Not a Bad Result’
Mar 29 2012 // At first glance that statement may seem a little strange, considering that Lloyd’s reported an overall loss for the year of £516 million ($822 million). But considering that overall insured losses for the year from...
OECD Says Euro Zone Public Debt Crisis Far from Over
Mar 27 2012 // The euro zone’s public debt crisis is not over despite calmer financial markets this year, the OECD said on Tuesday, with a warning that the bloc’s banks remain weak, debt levels are still rising and fiscal...
Seafarers’ Org. Lauds EU’s Extension of Somali Anti-piracy Operations
Mar 26 2012 // The SOS – SaveOurSeafarers – campaign announced that it “welcomes the extension of the EU counter- piracy operation until end 2014, and the EU decision to broaden the scope of its naval operation in the Gulf...
EU Council Extends Somalia Counter-piracy Operation; OK’s Coastal Missions
Mar 23 2012 // The Council of the European Union has prolonged the EU’s counter-piracy operation Atalanta by two more years, until December 2014. The Council also said that the decision “extended the force’s area of...
EU Agrees to Some Iran Oil Insurance Exemptions – Until July
Mar 23 2012 // The European Union will allow some insurance on Iranian oil shipments before its full embargo starts on July 1, member states agreed on Thursday, responding to concerns from Asian importers heavily reliant on the EU for...
U.S. Chamber, European Business Call for Removing Transatlantic Trade Barriers
Mar 21 2012 // The U.S. Chamber of Commerce and BUSINESSEUROPE have issued the following statement in a letter signed by twelve U.S. and European business associations to President Obama and EU Presidents Van Rompuy and Barroso, calling...
Celent Survey Forecasts Insurers to Spend $140.6 Billion on Technology in 2012
Mar 21 2012 // Global information technology spending by insurance companies is expected to reach $140.6 billion in 2012, an increase of 6.3 percent over 2011, according to a new report from Celent, part of the Oliver Wyman (MMC) group....
U.S. Exempts 11 Countries from Iran Oil Sanctions; China, India Exposed
Mar 21 2012 // The United States exempted Japan and 10 EU nations from financial sanctions because they have significantly cut purchases of Iranian oil, but left Iran’s top customers China and India exposed to the possibility of...
EU Fails to Agree on Exemptions for Iran Oil Transport Insurance
Mar 20 2012 // European Union diplomats on Tuesday postponed a decision on whether to grant any exemptions to insurance provided for Iranian crude shipments when the bloc implements oil sanctions on Iran, an EU diplomat said. Asian oil...
EU Foreign Ministers Set Talks on Tanker Insurance for Iran Oil Embargo
Mar 16 2012 // EU foreign ministers are expected to discuss how the bloc’s Iran oil embargo will impact shipping insurance when they hold a scheduled meeting next week, an industry source said on Friday. The ministers are due to...
Allianz Teams with Experts to Assess Climate Change Impact on Insurers
Mar 15 2012 // Europe’s largest insurer, Germany’s Allianz SE, posed the following question: “How does climate change affect the business model of a large insurance company?” In order to find the answers Allianz...
Ultimate Risk Solutions Names Nicolini Senior Advisor for Europe
Mar 14 2012 // Ultimate Risk Solutions, LLC, (URS) announced that Riccardo Nicolini, a long-time senior executive of Assicurazioni Generali, one of Italy’s largest insurance companies, has been appointed as Senior Advisor. URS...
Hannover Re Board Approves Legal Change to Societas Europaea
Mar 14 2012 // The Supervisory Board of Hannover Rückversicherung AG (Hannover Re) has approved a resolution of the Executive Board to transform the company into a European public limited company (Societas Europaea, or SE). The proposed...
Willis Names Bellone for Europe Capital Markets & Advisory Unit
Mar 12 2012 // Willis Group Holdings announced the appointment of Andrea Bellone as Managing Director in the European team of Willis Capital Markets & Advisory (WCMA), effective immediately. He is based in London and reports to...
Greece Averts Immediate Default with Bond Swap Deal Success
Mar 9 2012 // Greece averted the immediate risk of an uncontrolled default, winning strong acceptance from its private creditors for a bond swap deal which will ease its massive public debt and clear the way for a new international...
QBE Forming Global Reinsurance Business – QBE Re
Mar 8 2012 // The QBE Insurance Group announced that it is combining its worldwide reinsurance operations under a single management team and unified brand, QBE Re. The new reinsurer will “comprise the current statutory businesses...
