Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Swiss Re Estimates Chile Quake Loss at $500 Million; Xynthia $100 Million
Mar 10 2010 // Swiss Re released its preliminary estimates for losses from the magnitude 8.8 earthquake that hit Chile on February 27 – $500 million – and from European windstorm Xynthia – $100 million. Both estimates...
Ratings Recap: Swiss Re (Cat Bond), Transmonde, Sagicor, Bahamas First
Mar 10 2010 // Standard & Poor’s Ratings Services has assigned its preliminary ‘B-‘ credit rating to the class II-CN3 notes series 2010-1 issued under the principal at-risk variable-rate note program, Successor X...
PartnerRe Gives Loss Estimates for Chile Quake, Windstorm Xynthia
Mar 9 2010 // Bermuda-based PartnerRe Ltd has issued preliminary estimates of expected claims from the earthquake in Chile and European Windstorm Xynthia. Total insured industry losses from the M8.8 earthquake in Chile, which hit on...
European Union to Issue Climate Warning; Tackle CO2 Loopholes
Mar 9 2010 // Loopholes in the United Nations climate treaties could actually amount to an increase in global climate-warming emissions and the chance to rein in temperatures may be slipping away, a draft European Union report...
S&P Analyzes EU’s Proposed Solvency II Regulations on ‘Hybrid Capital’
Mar 5 2010 // Standard & Poor’s Ratings Services has published updated assumptions for assessing European insurance hybrid capital instruments (see “Assumptions: Implications Of Solvency II Proposals For Our European...
AIR Estimates Windstorm Xynthia Insured Losses at $2 to $4.1 Billion
Mar 3 2010 // Catastrophe risk modeling firm AIR Worldwide has estimated that insured losses in France, Belgium, Germany, and Netherlands from winter storm Xynthia will be between €1.5 billion and €3 billion [$2 to $4.1...
50 Deaths Reported as Powerful Storm Strikes Europe’s Atlantic Coast
Mar 1 2010 // A powerful Atlantic storm, named Xynthia, struck along the western coast of Europe Saturday night and most of Sunday, leaving at least 50 people dead in its wake. The storm packed sustained winds over 140 kmh (87.5 mph) as...
Aon Founder Ryan Launches Specialty Wholesale Insurance Group
Feb 23 2010 // The founder and retired chairman and CEO of the world’s largest insurance broker, Aon, has revealed the management team and a second subsidiary for his new global specialty insurance operation whose first company was...
U.S. Chamber Names Rashish for Europe, Eurasia Post
Feb 22 2010 // The U.S. Chamber of Commerce announced that Peter S. Rashish has been named the new vice president for Europe and Eurasia. He will lead the Chamber’s International Division in “crafting and implementing...
A Recurrence of Recalls; ‘PIGS’ in a Poke; Lloyd’s Powers on; Haiti Now Faces Floods and Hurricanes
Feb 21 2010 // First Toyota, then Honda – who’s next? 2010 is not starting out as a good year for car companies. Japan’s Toyota Motor Corp. was already in the process of recalling approximately 8 million vehicles, due...
European Insurers Increase Payouts, as Capital Recovers
Feb 19 2010 // Two leading European insurers on Thursday unveiled big dividend increases, confirming a sector-wide trend as the industry takes comfort from a steady recovery in its capital strength since the crisis. AXA, Europe’s...
Kyoto Climate Pact Risks Dying, as No New Agreement is in Sight
Feb 18 2010 // Efforts to extend the Kyoto climate pact framework risk collapse in a setback to years of diplomatic bargains, as chances fade that the United States will join other rich nations in capping emissions. December’s U.N....
Italian Auto Insurers’ Shares Could Gain from Price Increases
Feb 12 2010 // Shares in Italy’s top motor insurers could become more attractive this year because of the likely success of tariff [premium] increases in a market where rivalry from online and bank sales is still weak. Fund...
Malhi Joins ACE Europe as Account Engineer-Property
Feb 11 2010 // The ACE European Group announced the appointment of Imran Malhi as Account Engineer for its property business. He will provide value-added property services including client management, risk consulting and hazard...
Melody to Head New Barney & Barney European Office in Germany
Feb 3 2010 // San Diego-based Barney & Barney LLC, one of the U.S.40 largest insurance brokerages, has announced the creation of a new international position it has established in Stuttgart, Germany. Client Executive Bevin Melody...
EU Insurance Regulators Annuity Capital Decision Postponed
Feb 1 2010 // European insurance regulators need a little more time to thrash out a compromise on rules for annuity providers that UK insurers fear could force them to raise up to £50 billion ($81 billion) of capital. Regulators...
EU Welcomes China’s Support Against Somalia Piracy
Jan 29 2010 // China’s participation in an international naval operation to protect ships from pirates off the coast of Somalia should help improve maritime security in the Horn of Africa, an EU naval commander said Thursday. China...
Davos Report: Business Leaders Warn Regulations May Crimp Recovery
Jan 27 2010 // Global business leaders warned Western governments on Wednesday that a populist crackdown on the financial industry could crimp a fragile recovery from the worst recession since the 1930s. The worried response to U.S....
Torus Appoints Guesde to Lead European Casualty
Jan 26 2010 // Torus has appointed Thomas Guesde as Senior Vice President of its new European Casualty platform. His appointment follows Torus’ launch of its operations in Continental European in September 2009. Guesde reports to...
European Union Maintains Current Carbon Emissions Offer
Jan 22 2010 // The European Union will stick to its current offer in U.N. talks to cut carbon emissions to one fifth below 1990 levels over the next decade, but will raise that if others follow suit, a draft EU letter showed. “The...
