Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Aon Benfield Pushes for ‘Simplified Internal Model’ for Solvency II Approval
Feb 22 2011 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corporation, is calling for a “simplified Internal Model Approval Process (IMAP) for natural catastrophe risk that would encourage insurers...
Study Finds Auto Insurance and Services Add Profits for Car Makers, Dealers
Feb 16 2011 // Sales by car manufacturers and dealers of additional services to car buyers may mean the difference between profit and loss. A new study from the financial market research group Finaccord concluded that sales of...
S&P Reports Outlook for Int’l. Marine P&I Clubs is Stable
Feb 14 2011 // “The outlook for the international marine protection & indemnity (P&I) industry is looking stable, with all clubs in 2010 reporting a post-tax surplus for the first time since 1998,” said a bulletin...
Lockton Warns Europe Organizations are on ‘Borrowed Time’ for Data Breaches
Feb 10 2011 // A new white paper from international brokers Lockton – Exposed in Europe, Data Breaches and Their Impact in a Changing Legal and Regulatory Environment – warns European organizations that “prefer not to...
Aon Warns UK Businesses Face Threat from Environmental Legislation
Feb 8 2011 // UK businesses are “dangerously exposed to the possibility of heavy fines under the latest UK and EU legislation regarding environmental liability,” according to Aon. The bulletin added that in order to help...
S and P Lowers Aviva Insurance Ratings from ‘A+’ to ‘A-‘ After Ireland Downgrade
Feb 4 2011 // Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings on Aviva Insurance Europe SE (Aviva SE) to ‘A-‘ from ‘A+’. In...
Cooper Gay Launches European Markets Integrated Trading Unit
Feb 2 2011 // London-based Cooper Gay, an independent global wholesale, reinsurance and specialist retail insurance broker, has launched Cooper Gay European Markets, which it describes as an “integrated trading unit to provide...
AXA Acquires 80% Interest in B&B Insurance in Belarus
Feb 1 2011 // AXA Central & Eastern Europe announced the acquisition of 80 percent of B&B Insurance, the second largest insurer in Belarus, and its largest private insurer. AXA said the acquisition is another step in its...
EU Says Giant ‘Motherships’ Give Somali Pirates New Reach
Jan 31 2011 // Somali pirates are increasingly using hijacked merchant vessels with hostage crews as giant motherships to attack deeper into the Indian Ocean, the European Union anti-piracy task force says. Forcing the original crew to...
Ironshore Expands Political Risk Division for European Platform in Dublin
Jan 27 2011 // Ironshore Inc. has named P. Donald Harkey to head the Political Risk unit for Ironshore Europe Limited, based in Dublin. In addition, Ironshore’s Pembroke Syndicate 4000 has entered into an underwriting relationship...
Catlin Readies Launch of 3rd Arctic Survey; Focused on World’s Ocean Currents
Jan 26 2011 // Bermuda-based, London headquartered insurer Catlin announced the launch of its third Arctic Survey, which it said “will focus on evolving conditions in the Arctic Ocean that could cause changes in ocean currents that...
Guernsey Statement: ‘No Plans’ to Seek Equivalence under Solvency II
Jan 25 2011 // The Commerce and Employment Department of the States of Guernsey (the Guernsey Government) and the financial regulator, the Guernsey Financial Services Commission (GFSC) have released a joint statement, which affirms that...
Alarming Array of Risks Faces World Leaders in Davos
Jan 25 2011 // World leaders and top executives have plenty of crises to discuss this year. Ballooning European government debt, rising inflation, fears of trade and currency wars, spiraling food prices and lingering problems in the...
Somali Pirates Release 1 Ship; Hijack Another
Jan 18 2011 // Somali pirates hijacked a Greek-owned bulk carrier on Monday after releasing a Greek-owned tanker the day before, the European Union Naval Force said. The cargo ship MV Eagle was hijacked early Monday by pirates who had...
Lloyd’s Ribeiro Beats a Path to the World’s Insurance Door
Jan 18 2011 // As director of international markets for Lloyd’s of London, Jose Ribeiro has a lot of responsibilities. He took a brief time out, as he prepared for a trip to China, to tell the Insurance Journal a little bit about...
Ratings Recap: InterGlobal, B&B Insurance, Grupo Nacional
Jan 13 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘B++’ (Good) and issuer credit rating of “bbb+” of UK-based InterGlobal Insurance Company Limited, both...
Canopius Launches Swiss Reinsurance Operation; Seeks Omega Deal
Jan 10 2011 // Canopius Group Limited, a privately owned Lloyd’s re/insurer, has announced its intention to “extend its international footprint with the establishment of a reinsurance underwriting platform, Canopius Europe,...
Ironshore Forms Dublin Subsidiary; Marry Named as CEO
Jan 5 2011 // Bermuda-based Ironshore Inc announced the formation of Ironshore Europe Limited, domiciled in Dublin, Ireland. Fiona Marry has been appointed as CEO of the new insurer. She will report to the Ironshore Europe Limited Board...
Best Assigns ‘A’ Rating to Swiss-based Catlin Re
Dec 31 2010 // A.M. Best Europe – Rating Services Limited has assigned a financial strength rating of ‘A’ (Excellent) and an issuer credit rating (ICR) of “a” to Catlin Re Switzerland Ltd, the newly formed...
Best Europe Affirms ‘A’ Ratings of HDI, Gerling, Talanx Companies
Dec 28 2010 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a” of Germany’s HDI...
