Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Lloyd’s CFO Stresses Overall Strength after Record Loss
Sep 22 2011 // Lloyd’s of London reported the largest first half loss in its 323 year history yesterday, Sept. 21 – £697 million, or over $1 billion. However, Lloyd’s Chief Financial Officer, Luke Savage, was...
Politicians, Investors Worry Over Shrinking Middle Class, Role of Social Media
Sep 22 2011 // The rising gap between rich and poor in nearly every country, rich or poor, went largely ignored during the decades of globalization-fueled boom. But with large parts of the world in financial crisis, ending the time when...
Ratings Recap: NIPPONKOA (China), Leadway, B&B, Montpelier Re, Milli Re
Sep 21 2011 // A.M. Best Co. has assigned a financial strength rating of ‘A-‘ (Excellent) and an issuer credit rating of ‘a-‘ to NIPPONKOA Insurance Company (China) Limited, both with stable outlooks. The ratings...
Malta, Slovenia Risk Management Associations Join FERMA
Sep 21 2011 // The risk management associations of Malta (MARM) and Slovenia (SI.RISK) have been accepted as the latest members of the Federation of European Risk Management Associations (FERMA). Their adhesion brings to a total of 19...
Italy Downgrade, Greek Worry Dominate Europe’s Financial Markets
Sep 20 2011 // Standard & Poor’s downgrading of Italian debt hit the euro on Tuesday, although stock investors shrugged off the move to push European stocks higher. Markets remain on edge about Greece’s rickety finances...
Good News – Bad News from the Reinsurance Rendezvous
Sep 19 2011 // Generally speaking the reinsurance industry is in good shape, certainly better than it was in 2008 and 2009, when even mighty Swiss Re needed a bailout from Berkshire Hathaway. A combination of improved models and a...
Hamilton Joins UK’s Miller from Bowring Marsh
Sep 19 2011 // UK broker Miller announced that it has appointed Gavin Hamilton, previously at Bowring Marsh, to support the company’s continued drive for growth in its UK and European corporate client account base. He specializes...
Ratings: AmerInst, Emirates, Jamaica Int’l., Salama/BEST RE, Colonial, Trust Re
Sep 15 2011 // A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of ‘a-‘ of Bermuda-based AmerInst Insurance Company, Ltd., both with stable outlooks. AmerInst...
AIR Updates European Wind, Earthquake Cat Models
Sep 15 2011 // Catastrophe risk modeling firm AIR Worldwide has released updates to its Extratropical Cyclone and Earthquake Models for Europe. AIR said it had “significantly expanded” both models to include additional...
Best Affirms Allianz SE, Most Subs ‘A+ Ratings; Outlook Stable
Sep 8 2011 // A.M. Best Europe – Rating Services Ltd. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of ‘aa’ of Germany’s Allianz Societas Europaea...
Best Affirms Ratings of Lloyd’s Syndicate 958 (Omega); Outlook Stable
Sep 7 2011 // A.M. Best Europe – Rating Services Ltd. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of ‘a+’ of Lloyd’s Syndicate 958, which is managed...
Official Says Germany Wants Armed Guards on Europe Ships
Aug 23 2011 // Germany plans to lobby other European Union countries to allow the deployment of private armed guards on their merchant ships in high-risk areas as a piracy crisis escalates, ministry officials said. But analysts said the...
Bermuda Association Lauds Government Progress on Solvency II ‘Equivalence’
Aug 18 2011 // While U.S. regulators are beginning to be worried about the impending imposition of the European Union’s Solvency II regulations for the re/insurance industry, which will come into force in 2014, Bermuda has been...
European Insurance Regulation Threatens U.S. System, Connecticut Regulator Warns
Aug 17 2011 // Adoption of European regulatory changes known as “Solvency II” as currently proposed could weaken U.S. consumer protections and stability of insurers, a state insurance commissioner has warned. Connecticut...
Sarkozy, Merkel Push Euro Integration; No Joint Bonds
Aug 17 2011 // France and Germany unveiled far-reaching plans for closer euro zone integration on Tuesday, but they disappointed investors by declaring that any thoughts of a common euro bond issuance would have to wait. Under heavy...
Sarkozy & Merkel Face ‘Stark Choice’ in Euro Zone Talks
Aug 16 2011 // The leaders of France and Germany face a stark choice in talks on Tuesday over whether to begin steering the embattled euro zone towards closer fiscal union or risk watching the bloc unravel. French President Nicolas...
EQECAT Models $260 Mn Windstorm Risk Cat Bond for French Nat’l Power Co.
Aug 15 2011 // Oakland-based catastrophe modeling firm EQECAT has provided risk modeling services to Electricité Réseau Distribution France S.A. (ERDF) for the issuance of a €150 million [$216 million] catastrophe bond transferring...
Ratings: Sunderland, Citadel Re, Alliance (Dubai), Oman Ins., SCRe (Morocco)
Aug 12 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of the UK’s Sunderland Marine Mutual Insurance...
Lloyd’s: Drought Caused Subsidence Costliest Natural Hazard in Parts of Europe
Aug 9 2011 // An article on the Lloyd’s web site notes that “news reports on climate change have focused on dire predictions of more hurricanes and increasing flooding due to rising sea levels. But subsidence caused by...
European Insurers’ Greek Hit Fuels Debt Concerns
Aug 5 2011 // Allianz and Generali followed rivals in aggressively writing down holdings of Greek government bonds on Friday, fuelling investor concerns about the possible impact on insurers of a worsening sovereign debt...
