Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Best Affirms Aviva’s Ratings; Places them on Review/Negative
Dec 16 2011 // Following its announcements, made earlier this week, A.M. Best Europe – Rating Services Limited is continuing to take rating actions on a number of European (re)insurers, as a result of the continued negative...
Best Downgrades Generali, Main Subs Ratings; Keeps on Review/Negative
Dec 15 2011 // As a result of the continued negative developments regarding the euro zone sovereign debt crisis, A.M. Best Europe – Rating Services Limited has downgraded the financial strength rating (FSR) to ‘A’...
Best Downgrades MAPFRE RE’s Ratings; Placed on Review/Negative
Dec 15 2011 // A.M. Best Europe – Rating Services Limited announced that “as a result of the continued negative developments regarding the euro zone sovereign debt crisis,” it has downgraded the financial strength rating to...
Best Downgrades Allianz and Subs Issuer Credit Ratings; Affirms FSR
Dec 15 2011 // A.M. Best Europe – Rating Services Limited has reacted to the ongoing sovereign debt crisis in the euro zone, which it describes as “continued negative developments” with a number of rating actions, starting...
Europe’s Austerity Zeal Risks Killing the Patient
Dec 14 2011 // Europe’s “no pain no gain” attitude to solving its sovereign crisis risks exacerbating the bloc’s problems, choking off the very growth needed to raise the money to pay down the debt. From Athens to...
Munich Re Describes Climate Conference Results as ‘Disappointing’
Dec 14 2011 // From Munich Re’s perspective, the recently concluded climate summit in Durban “yielded disappointing results that fail to reflect the world climate’s dramatic situation.” Prof. Peter Höppe, head of...
Ratings Roundup: BEST Re, BCRe, TUCI
Dec 13 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Malaysia’s BEST RE (L) Limited, both with stable...
New U.N. Climate Deal Struck; Critics Say Gains Modest
Dec 12 2011 // Countries from around the globe agreed on Sunday to forge a new deal forcing all the biggest polluters for the first time to limit greenhouse gas emissions, but critics said the plan was too timid to slow global warming. A...
S&P Puts Allianz, Aviva, AXA, Generali, Mapfre Units, 10 Other EU Insurers on CreditWatch/Negative
Dec 12 2011 // Standard & Poor’s Ratings announced that it has placed its ratings on the following insurers (and certain related operating subsidiaries and certain holding companies) on CreditWatch with negative...
UK Insurance Association: Solvency II May Help or Hinder EU Growth
Dec 9 2011 // Amidst all the turmoil in the euro zone, the implementation of the Solvency II regulations, governing the 27 members of the European Union, including the UK, grinds inexorably forward. It is a fact of life for British...
Europe Moves Ahead with Fiscal Union; UK Isolated
Dec 9 2011 // Europe divided on Friday in a historic rift over building a fiscal union to preserve the euro, with a large majority of countries led by Germany and France agreeing to move ahead with a separate treaty, leaving Britain...
Lloyd’s Study Finds U.S. Businesses Concerned with Talent, Skills Shortage
Dec 8 2011 // U.S. business leaders are as concerned as their European counterparts over a talent and skills shortage, despite record unemployment levels across much of the U.S. The talent risk was number two in a survey conducted by...
Ratings Recap: China Taiping (NZ), Ansvar (NZ), Nationale Suisse
Dec 7 2011 // A.M. Best Co. has affirmed the financial strength rating of ‘B++’ (Good) and issuer credit rating of “bbb” of China Taiping Insurance (NZ) Limited (CTINZ), both with stable outlooks. Best said the...
Aon Benfield Monthly Cat Report: Thai, Europe Floods Costly for Insurers
Dec 7 2011 // Aon Benfield’s Monthly Cat Recap report, which reviews the natural disaster perils that occurred worldwide during November, concludes that insured losses in Thailand could top $10 billion, while floods in Europe will...
RSA Names Slingsby Global Program Director-Global Specialty Lines
Dec 6 2011 // RSA announced the appointment of Steve Slingsby as Global Program Director for Global Specialty Lines (GSL). He will work closely with the specialty lines teams, supporting the running of the GSL business. Paul Donaldson,...
Torus Acquires Renewals of C.V. Starr for Continental Europe; Interview with Int’l. CEO O’Donohoe
Dec 5 2011 // Torus announced that it has entered into an agreement with Starr Underwriting Agents Limited whereby Torus Syndicate 2243 acquires the renewal rights to CV Starr Syndicate 1919’s Continental European Marine,...
Swiss Re Economists See Weak Growth; Some Market Hardening; EU Peril
Dec 2 2011 // Swiss Re presented its latest analysis of the global economic outlook and its potential impact on the insurance industry at an economic forum in London yesterday, December 1. Chief Economist Kurt Karl began the discussion...
Thai Flood May Hit Asia Harder Than Japan Disaster: Official
Nov 29 2011 // The impact from Thailand floods on Asia’s production networks may last longer and be deeper than that from Japan’s March earthquake, tsunami and nuclear crisis, a senior Asian Development Bank official said on...
Ratings: Bahrain Kuwait, Twin Bridges/Majestic, GTA Assur, Bahamas First, swisspartners (SPV & SPC)
Nov 28 2011 // A.M. Best Europe – Rating Services Limited has assigned a financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” to Bahrain Kuwait Insurance Company B. S. C. (BKIC), both...
World Economy Counts the Cost of Euro Zone Dithering
Nov 23 2011 // From credit bottlenecks in Eastern Europe to slower growth in China, delays in tackling the euro zone’s debt crisis are causing ever-greater economic and financial damage well beyond the borders of the 17-nation...
