Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Ratings Recap: ACE Europe, Unipol
Mar 23 2009 // A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit rating (ICR) of “aa-” of the UK-based ACE European Group Limited (AEGL) with stable outlooks. Best said...
Ace Europe Appoints Reynolds UK, Ireland Marine Manager
Mar 19 2009 // ACE Europe has appointed Mike Reynolds as Marine Manager for the UK & Ireland. He will be responsible for managing the ACE’s marine portfolio written outside of its London market operation through ACE...
UK’s FSA to Propose Overhaul of Global Bank Regulation
Mar 18 2009 // Britain’s Financial Services Authority (FSA) will publish Wednesday a blueprint for a shake-up of global banking regulations aimed at preventing a recurrence of the financial crisis weighing down the world...
Marsh Warns EU Environmental Laws Expose UK Firms to Increased Risks
Mar 18 2009 // Marsh has analyzed the possible effects of new European legislation designed to protect the environment. The broker points out that “businesses in the UK will now have to pay for any significant damage that they...
Arch Europe to Establish New Lloyd’s Syndicate
Mar 17 2009 // Arch Insurance Company (Europe) Limited, a subsidiary of Bermuda-based Arch Capital Group Ltd., announced that it has received approval from Lloyd’s to establish a new syndicate, which is slated to commence...
U.S. Treasury Readies Systemic Risk Financial Regulation Blueprint
Mar 17 2009 // The U.S. Treasury is expected to propose within days the creation of a “systemic risk regulator,” probably the Federal Reserve, to oversee banking and market problems that could threaten the economy. On both...
AIG’s European Bank Payments, Bonuses Spark Political Outrage
Mar 16 2009 // Goldman Sachs Group and a parade of European banks were the major beneficiaries of $93 billion in payments from American International Group — more than half of the U.S. taxpayer money spent to rescue the massive...
UK Insurance Association Supports Regulatory Reform Principles
Mar 16 2009 // The Association of British Insurers has published five key principles to “help ensure that regulatory reform brings real benefits for consumers, ahead of next week’s Turner review into regulation and the G20...
EU Financial Supervision Plans May Be Replicated Globally
Mar 10 2009 // European Union plans to beef up financial supervision may be replicated globally, though much will hinge on how the United States responds, a top official from the bloc’s executive arm said on Monday. A high-level...
U.S. Lawmaker Says AIG Failure Would ‘Bring Down Europe’
Mar 6 2009 // The U.S. government rescued giant insurer American International Group in part because its collapse would dramatically hurt European banks, a senior Democratic lawmaker said Thursday. The U.S. government has bailed out AIG...
U.S. Federal Reserve Won’t Name Firms Helped By AIG Bailout
Mar 6 2009 // The U.S. Federal Reserve refused to identify trading partners benefiting from a $180-billion taxpayer bailout of American International Group as one lawmaker said Europe’s financial stability was at stake in the...
Ace Europe Names Edwards for Major Client Risks
Mar 6 2009 // ACE European Group has announced the appointment of Shaun Edwards as a Client Relationship Manager for its Major Risks business, in a move, which, ACE said, “further enhances ACE’s profile and broker...
Ratings Recap: Munich Re, Partner Re, IPC Re [S&P, Best], Vienna, Emirates
Mar 5 2009 // Standard & Poor’s Ratings Services has said that its “ratings and outlook on Germany-based global reinsurer Munich Reinsurance Co. (AA-/Stable/–) and core related entities (collectively Munich Re)...
Ace Europe Launches New Program for Sprinkler Protected Property
Mar 3 2009 // ACE Europe has launched ACE Protect, a new property coverage aimed at companies which have installed sprinkler fire extinguishing systems in their premises. ACE said the new coverage “offers training and risk...
Report Urges Phased Reform of EU Financial Oversight
Feb 25 2009 // The European Union should set up two bodies to coordinate oversight of financial institutions across Europe, according to a report on Wednesday which disappointed those seeking simpler structures with more teeth. Part of...
Aegon, L&G See More Defaults, Insurer Woes Continue
Feb 18 2009 // Writedown woes hit European insurers again on Tuesday as life insurers Legal & General Plc and Aegon NV predicted more companies would default on loans, sending insurance shares down. Legal & General more than...
Best’s Solvency II Analysis Concludes Financial Crisis Impacts Insurers
Feb 2 2009 // A report from A.M. Best examines the latest twists and turns of the European Union’s much discussed (and long delayed) implementation of the Solvency II regulations. Best notes that the “current turmoil in the...
Marine Insurance Group Sees ‘Tough Times’ for Insurers
Feb 2 2009 // According to Deirdre Littlefield, president of the International Union of Marine Insurance (IUMI), “While the insurance industry may be more insulated from failure than others in the financial sector, it will not...
ACE Europe Launches Insurance, Risk Management for Mid-size Firms
Jan 27 2009 // ACE Europe has announced the launch of “ACE Evolve,” which it describes as a “coordinated insurance and risk management solution for mid-sized companies with overseas subsidiaries or assets. ACE Evolve...
Ratings: Hannover Re, Scottish Re, NTI, Korean Re, Southern Rock, Ecclesiastical/Ansvar
Jan 26 2009 // A.M. Best Co. has commented that the financial strength rating of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a+” of German reinsurer Hannover Rueckversicherung AG (Hannover Re) remain...
