Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Baugh to Replace Glaser at AIG UK; Portalatin, Hernandez Move Up
Dec 3 2007 // Following the departure of Daniel Glaser to Head Marsh (See related article), American International Group announced the promotion of three executives in its Foreign General insurance operations. Alexander R. Baugh will...
Zurich Appoints Kath, Barnes to New Claims Positions
Nov 29 2007 // Zurich Financial Services announced changes in the claims division of its global corporate and European General insurance units. Jutta Kath, 47, who is currently Chief Claims Officer for Global Corporate, has been...
Willis Names Piccolomini to Head Continental Europe Operations
Nov 27 2007 // Willis Group Holdings announced that Flavio Piccolomini, former CEO of Willis’ Italian operations, Willis Italia Spa, has been appointed CEO for Continental Europe, including the Nordic region. He will report to...
Ratings Recap: MMA, Shinkong, First Ins., Singapore Re, Swiss Re, W.R. Berkley (Europe)
Nov 21 2007 // Standard & Poor’s Ratings Services has raised its long-term counterparty credit and insurer financial strength ratings on France-based insurer MMA IARD Assurances Mutuelle (MMA IARD) to ‘A’ from...
Guy Carp’s New Czech Flood Model
Nov 16 2007 // Guy Carpenter & Company, LLC announced that its Instrat ® unit has introduced a new, fully probabilistic flood model for the Czech Republic. “The model provides insurers with a reliable, high-quality set of...
S&P to Hold Conferences on European Bank Sector
Nov 16 2007 // Standard & Poor’s announced that it will be holding conferences on the European bank sector across Europe. The meetings will concentrate on “how financial institutions are managing their way through the...
Agents Tell Treasury Financial Regulation Study Questions Biased
Nov 15 2007 // A notice published in the Federal Register seeking comments for a broad Treasury Department review of financial regulation is biased in favor of federal regulation of insurance and foreign business entities, according to...
Guy Carp Makes Europe, Asia Pacific Executive Changes
Nov 13 2007 // Guy Carpenter & Company, LLC has announced a number of key executive appointments to its European and Asia Pacific broking operations. Nick Frankland, formerly CEO of UK Operations, has been appointed to the newly...
Lloyd’s Counsel Decries ‘Red Herring’ Objections to Collateral Reform
Nov 8 2007 // Sean McGovern, Lloyd’s Director and General Counsel, accused the opponents of reforming the U.S. collateral trust rules on reinsurance of introducing the “latest red herring” into the debate. In a...
Berkley to Buyout Kiln’s Stake in W. R. Berkley Insurance (Europe)
Nov 7 2007 // W. R. Berkley Corporation announced that it has agreed in principle to purchase the 20 percent minority interest in W. R. Berkley Insurance (Europe), Limited held by Kiln Ltd. for approximately $50.1 million (£24.5...
S&P Examines Europe’s Insurers Exposure to ‘Credit Crunch’
Nov 6 2007 // Standard & Poor’s has published an “Industry Report Card” on Europe’s insurers, which examines their situation “in the aftermath of the subprime credit crunch,” the findings of an...
Ratings Recap: Medical Ins. (Australia), Swiss Re Europe, Aseguradora Mundial
Nov 6 2007 // Standard & Poor’s Ratings Services has assigned its ‘BBB+’ rating on Medical Insurance Australia Pty Ltd., a national medical indemnity insurer and the largest in South Australia, with a stable...
News Currents
Nov 4 2007 // Collateral conundrum: To change or not to change N.Y. steps out as first state to deliver level playing field for all reinsurers New York State Insurance Superintendent Eric Dinallo’s proposal that the highest rated...
AXA Corporate Solutions Head Calls for Premium Stabilization
Oct 18 2007 // Jean-Paul Rignault, chief executive of AXA Corporate Solutions, called for premium rates to be stabilized if insurers are to achieve adequate pricing and the current soft market cycle, now taking hold, is to flatten...
Lord Levene Castigates U.S. Failure to Reform Reinsurance Collateral Regs
Oct 17 2007 // He’s said it before, and he’s said again. In a forceful open letter printed in the Financial Times (FT), Lloyd’s Chairman Lord Peter Levene wrote that it is “extraordinary that the US does not offer...
ACE Bermuda International New Global Business Name; Lloyd’s Box Opened
Oct 17 2007 // As of October first “ACE European Markets Insurance Limited and ACE European Markets Reinsurance Limited will trade under the business name of ACE Bermuda International (ABI),” said a bulletin on the ACE web...
Lloyd’s, UK’s Met Office Prepare for Repeat of 1987 Windstorm
Oct 16 2007 // Risk management Solutions commemorated the 20th anniversary of the destructive 1987 windstorm that struck Southern England and Northern France with a warning (See IJ web site Oct. 15). Lloyd’s and the UK’s Met...
S&P Comments on Standardizing Global Insurance Accounting Rules
Oct 16 2007 // In a new report Standard & Poor’s states that the “International Accounting Standard Board’s (IASB) discussion paper on insurance contracts may well set the tone for a new global frame...
ACE Europe Strengthens Environmental Liability Unit
Oct 5 2007 // The ACE European Group announced that it has promoted Wayne Harrington to UK & Ireland Manager, Environmental Risk and Iain Harrison as Environmental Risk Underwriter, as part of its ongoing strategy to grow its...
Allstate Investment Unit Opens First Overseas Office in London
Oct 5 2007 // Allstate Investment Management Limited — an indirect wholly-owned investment management subsidiary of The Allstate Corp. — has crossed over borders with the opening of Allstate Investment’s first overseas...
