Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Portugal Adds to Europe Woes as Banks Meet on Greece
Jul 6 2011 // A credit rating downgrade to Portugal [by Moody’s Investors Services] added to fears Europe’s banks face heavy euro zone losses if a private sector plan to help Greece comes unstuck, piling pressure on...
New Swiss Re sigma study Reveals Global Premium, Capital Growth
Jul 6 2011 // A new study in Swiss Re’s sigma series concluded that the global insurance industry has returned to a pattern of growth. The study – World insurance in 2010 – reveals growth in global premium volume and...
Stress Test Results Confirm Strength of European Insurance Industry
Jul 5 2011 // The second stress test of European insurers, conducted by the European Insurance and Occupational Pensions Authority (EIOPA), has confirmed “the robustness of the European insurance market and its ability to...
Swiss Re Warns Europe of Increasing ‘Soil Subsidence’ from Climate Change
Jul 5 2011 // According to a new study from Swiss Re, “Europe is witnessing a dramatic increase in property damage as a result of soil subsidence.” A new loss model developed by Swiss Re and the Swiss Federal Institute of...
China to Tap Foreign Employees for Social Insurance Funds
Jul 5 2011 // China has enacted a social insurance law that requires foreigners to pay into medical, pension and unemployment funds for the first time, but unclear implementation guidelines are fueling uncertainty among expatriates and...
Survey Shows Europe’s Top 10 P&C Insurers Grew Premiums by 5.2% in 2010
Jul 1 2011 // Spain’s MAPFRE has published its 7th annual survey of Europe’s non-life insurers, ranking them by gross premiums written. The survey found that “all the companies achieved an increase in premium revenues...
Willis Re Sees Reinsurers Reacting as $48 Billion Losses Take Their Toll
Jun 30 2011 // The Willis Re’s 1st View Renewals Report for June/July 2011, entitled – “Mixed Messages“- estimates that “a string of natural catastrophes in the first quarter of 2011 has cost reinsurers in...
S&P: Resilience of French Insurance Industry Will Be Tested Further
Jun 29 2011 // Standard & Poor’s Ratings Services has published a report – “French Insurance Industry Holds Up Under Pressure, But Challenges Still Lie Ahead” – on the challenges the French insurance...
S&P Reports European Insurers Still ‘Nervous’ Despite Gains
Jun 28 2011 // Standard & Poor’s Ratings Services has issued a report which “discusses why it thinks the European insurance industry seems nervous as it enters the second half of 2011.” The report –...
FERMA Elects New Board Members
Jun 27 2011 // The Federation of European Risk Management Associations (FERMA) has elected three new board members who will serve from now until June 2014. They are: Helle Friberg of the Danish association DARIM Igor Mikhaylov from the...
Banks, Insurers Move Closer to Deal on Greek Bailout
Jun 24 2011 // Banks and policymakers moved closer to a deal on Friday to help Athens secure funds ahead of a parliamentary vote on austerity next week that Greek Prime Minister George Papandreou must win to avert default. Despite a...
Best Affirms Ironshore and Subs Ratings
Jun 23 2011 // A.M. Best Co. has affirmed the issuer credit rating (ICR) of “bbb-” of Cayman Islands-based Ironshore Inc., as well as the financial strength rating of ‘A-‘ (Excellent) and the ICRs of...
Ratings Recap: IGIUK, MAPFRE Re (Panama), Arab Misr, Gulf, Caribbean Alliance
Jun 23 2011 // A.M. Best Europe – Rating Services Limited has assigned a financial strength rating of ‘A-‘ (Excellent) and an issuer credit rating of “a-” to International General Insurance Company (UK) Limited...
Europe Seeks to Get Insurers, Banks on Board Greek Bailout
Jun 22 2011 // European governments are trying to persuade banks and insurers to share the pain of a second Greek bailout package, in an attempt to avoid market meltdown while keeping taxpayers happy. Talks between governments and...
Amy Winehouse’s European Tour in Doubt; Insurance Coverage Too
Jun 21 2011 // The video is painful to watch, an artistic train wreck for all to see. The question is what Amy Winehouse is going to do next. The five-time Grammy Award winner, whose battles with alcohol and drug abuse have long...
Best Upgrades Issuer Credit Rating of ACE European Group; Affirms FSR
Jun 21 2011 // A.M. Best Europe – Rating Services Limited has upgraded the issuer credit rating (ICR) to “aa” from “aa-” and affirmed the financial strength rating (FSR) of ‘A+’ (Superior) of the...
EU Urges Tariff Standstill as Doha Round Down Payment
Jun 21 2011 // World Trade Organization members should agree to a standstill on tariffs in December as a down payment toward a larger deal in long-running world trade talks, the top EU official said Tuesday. EU Trade Commissioner Karel...
European Central Bank Head Warns of Widening Global Imbalances
Jun 20 2011 // European Central Bank President Jean-Claude Trichet on Sunday raised concerns about widening global imbalances after the financial crisis, calling them one of the main challenges for the global economy. Global imbalances...
Guernsey Seminar on Solvency II Assesses Rejection of ‘Equivalence’
Jun 15 2011 // Insurance professionals from the UK and Guernsey were told of the benefits that could result from the Island’s stance on Solvency II. Nearly 100 risk managers, brokers, lawyers, representatives from ratings agencies...
Finance Industry Warns of Transatlantic Discord over Derivative Rules
Jun 8 2011 // Transatlantic sniping by top policymakers could make it harder to agree new rules to crack down on derivatives, derivatives market officials said on Tuesday. “The high policy debate is going in the wrong direction...
