Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
FERMA Welcomes EC Report Favoring Extension of Insurers Block Exemption
Apr 7 2009 // The 16-member Federation of European Risk Management Associations (FERMA) issued a statement that it “welcomes the European Commission (EC) Report in favor of renewal of the Insurance Block Exemption Regulation...
Business Moves
Apr 6 2009 // AIG American International Group (AIG) has taken down the most prominent sign at its downtown Manhattan offices. According to a Reuters report, the company replaced the large AIG sign — outside the entrance to its...
Business Moves
Apr 6 2009 // AIG American International Group (AIG) has taken down the most prominent sign at its downtown Manhattan offices. According to a Reuters report, the company replaced the large AIG sign — outside the entrance to its...
G20 Seals $1.1 Trillion Deal
Apr 3 2009 // World leaders clinched a $1.1 trillion deal on Thursday to combat the worst economic crisis since the Great Depression and said financial rules would be tightened to stop it happening again. U.S. President Barack Obama...
EU Contributes $17 Million to Caribbean Cat Risk Insurance Facility
Mar 26 2009 // The European Union has joined the Caribbean Catastrophe Risk Insurance Facility’s (CCRIF) 16 member governments – Canada, the World Bank, the United Kingdom, Bermuda, Ireland, France and the Caribbean...
XL Insurance Launches Solutions for German Upper Middle Market
Mar 25 2009 // XL Insurance, the global insurance operations of XL Capital Ltd., announced that it will offer insurance solutions to Upper Middle Market companies in Germany with an annual turnover ranging from approximately €30...
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...
