Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Ratings Recap: BEST RE, Garant, ZEP-RE, East Africa Re, Custodian
Nov 23 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-based BEST RE Family (L) Limited, both with...
Best Performs Added Stress Testing Due to Europe’s Economic Uncertainty
Nov 22 2011 // A.M. Best Co. announced that it has performed additional stress tests of the balance sheets of insurers’ exposure to euro zone debt as economic conditions within the region continue to worsen. Best has published the...
Buffet on Japan Visit; Says Euro Zone Has ‘Major Flaw’
Nov 21 2011 // Billionaire investor Warren Buffett said Europe’s debt crisis had shown up a “major flaw” in the 17-member euro zone system and it would take more than words to fix it. “There is a major flaw in the...
AmTrust Europe to Open Branch in Italy
Nov 18 2011 // UK-based insurer AmTrust Europe, Ltd., a FSA [Financial Services Authority] authorized insurance company, which already has had operations in Italy “under freedom of services (LPS) for a number of years,”...
Breaking up the Euro? Try Unscrambling an Omelet – an Analysis
Nov 17 2011 // Can you unscramble an omelet? That, in essence, is what euro zone leaders and the global monetary policy elite will have to do if the euro zone is to be reshaped in any semblance of an orderly manner, be it by letting...
Torus Strengthens European P&C Platforms with New Appointments
Nov 17 2011 // Torus Insurance announced that it has “enhanced its offering in Europe with the appointment of Brian Byrnes as Senior Underwriter for General Property and Marco Sonntag as Senior Underwriter for Casualty.” They...
Reuters Analyst Warns World Must Keep Focus on Climate Risk
Nov 17 2011 // Gerard Wynn, a Reuters market analyst, has expressed his own views on the necessity of continuing to deal with the challenges presented by extreme weather and its global impact. Rising temperatures are driving more...
HK Shares Close Down 2%; Chinese Insurers Slump
Nov 16 2011 // Hong Kong shares slumped on Wednesday, dragged down by weakness in Chinese insurers and property developers, with turnover low as investors became more averse to riskier assets on fears of contagion from Europe’s...
RSA Makes Changes to Operational Structure, Executive Team
Nov 14 2011 // UK-based RSA has announced announces a number of changes to the Group’s operating structure and Executive Team. As of January first the group will be reorganized into four regions: UK & Western Europe;...
FERMA Pushes Brazil to Relax Reinsurance Regulatory Restrictions
Nov 14 2011 // The Federation of European Risk Management Associations (FERMA) announced that it has sent “specific recommendations to the Brazilian insurance regulator SUSEP to limit the impact of regulations 225 and 232 on market...
Does the Legacy of the Great War Still Haunt Europe?
Nov 10 2011 // As Americans and much of the rest of the world pause to honor the men and women who have served their country, one is reminded of the significance of the date – November 11. 93 years ago the guns of World War I fell...
Swiss Re Places $130 Million Cat Bond for Hurricanes, European Wind
Nov 9 2011 // Swiss Re has obtained a further $130 million in protection through the Successor X Ltd. catastrophe bond program, which covers exposures to “North Atlantic hurricane and European windstorm.” Swiss Re noted that...
Best Affirms Torus Insurance Holdings and Operating Subs Ratings
Nov 9 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of Torus Insurance (Bermuda) Limited, Torus...
IMF Head Warns World Economy Risks a ‘Lost Decade’
Nov 9 2011 // The head of the International Monetary Fund warned on Wednesday that Europe’s debt crisis risked plunging the global economy into a “lost decade” and said it was up to rich nations to shoulder the burden...
EU Finance Ministers Reaffirm Climate Funding for Developing Countries
Nov 9 2011 // EU finance ministers on Tuesday signed off on more than €4 billion ($5.5 billion) in short-term funding to help developing countries adapt to climate change and curb emissions — even as they met to grapple with...
Ratings Recap: Tokio Millennium Re, Alterra Re Europe, Harmony General
Nov 7 2011 // A.M. Best Co. has upgraded the financial strength rating to ‘A++’ (Superior) from ‘A+’ (Superior) and the issuer credit rating to “aa+” from “aa-” of Bermuda-based Tokio...
Broker/Analyst Cheuvreux Urges Buffett to ‘Come to Europe’
Nov 4 2011 // Warren Buffett should come to Europe to tap regional champions at knock-down valuations, including in his favored sectors, Cheuvreux analysts said in an open ‘letter’ to the billionaire U.S. investor detailing...
France, Germany Give Greece Ultimatum on Euro
Nov 3 2011 // The leaders of Germany and France told Greece on Wednesday it would not receive another cent in European aid until it decides whether it wants to stay in the euro zone. They also made clear that saving the euro was...
US, EU, Japan Press China on Financial Services Reform at WTO
Nov 1 2011 // The United States criticized China on Monday for failing to fulfill World Trade Organization commitments to open its financial services market, while the European Union and Japan pressed for answers on specific areas of...
EU Says Doha Deal Could Boost World Exports by $505 Billion, If Revived
Nov 1 2011 // Moribund talks for a global accord to open up trade could boost world exports by more than half a trillion dollars a year if they were revived and completed, lifting global economic growth by 0.2 percent, an EU report said...
