Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Marsh Names White as FINPRO Practice Leader for Europe
Feb 22 2007 // Marsh UK has promoted Roy White as practice leader of its Financial and Professional Services Practice (FINPRO), in Europe, Middle East and Africa. He is based in Marsh’s London office and will assume overall...
Max Re Names Rainey Executive VP & CFO of Max Europe Holdings
Feb 20 2007 // Bermuda-based Max Re Capital Ltd. announced that Walker Rainey, previously Senior VP and CFO of Max Europe Holdings Limited, has been promoted to Executive Vice President and CFO of Max Europe Holdings, effective...
Best Comments on January Reinsurance Treaty Renewals
Feb 20 2007 // A.M. Best has published a comment on the recently published figures from a number of global reinsurers following the January treaty renewals, mainly focusing on Europe. Best said most “global reinsurers are...
Zurich Acquires Majority Stake in Russia’s NASTA
Feb 14 2007 // The Zurich Financial Services Group has signed an agreement for the purchase of a majority stake in OOO NASTA Insurance Company, headquartered in Moscow, Russia. “In combination with Zurich’s existing Russian...
Guy Carpenter Makes Management Changes
Feb 13 2007 // Guy Carpenter & Company, LLC, the risk and reinsurance specialist of the Marsh & McLennan Companies, has announced a number of changes to its executive leadership teams in North America, the United Kingdom and...
Eckert to Retire as Zurich COO
Feb 9 2007 // Zurich Financial Services Group announced that “after more than 25 years of dedicated service to Zurich, its employees, its shareholders and its customers, Peter Eckert will be retiring effective February 28,...
ACE Europe Global Markets Study Highlights Political Risk Concerns
Feb 1 2007 // According to a new report the Economist Intelligence Unit (EIU), sponsored by ACE, “nearly 30 percent of senior executives and risk professionals surveyed said their companies had been forced to cancel existing...
Converium Estimates Kyrill Claims between $32 to $46 Million
Feb 1 2007 // Swiss-based reinsurer Converium has estimated that its gross claims for winter storm Kyrill will be around €25 to €35 million ($32.5 to $46.5 million). Converium said its estimates were “based on an assumed...
Allianz Lecturers Urge EU Lead on Climate Change
Jan 30 2007 // The global debate on Climate Change has gone from a sideshow to the main event, taking over the front pages of many newspapers. The Intergovernmental Panel on Climate Change (IPCC) Conference, currently taking place in...
Hannover Re Estimlates Kyrill Losses Between $155-$233 Million
Jan 30 2007 // Hannover Re said it expects a net loss of €120 to €180 million ($155 to $233 million) before tax as a result of windstorm Kyrill. The bulk of the expenditure is attributable to claims in Germany. Hannover Re said the...
FERMA Urges Members to Develop Environmental Liability Products
Jan 29 2007 // Warning that “European businesses face uninsurable environmental impairment risks,” the Federation of European Risk Management Associations (FERMA) called on insurers to be less “risk averse.” It...
People and Places
Jan 29 2007 // Lloyd’s of London announced that Julian James, director-worldwide markets, will be leaving at the end of April to join Lockton International. He has been responsible for all Lloyd’s commercial activities...
Business Moves
Jan 28 2007 // Goldman Sachs, USI Holdings Insurance broker USI Holdings Corp. agreed to be acquired by GS Capital Partners, a private equity affiliate of Goldman, Sachs and Co., in a transaction valued at approximately $1.4 billion,...
Swiss Re Estimates Kyrill Losses at $181 Million
Jan 26 2007 // Swiss Re’s preliminary estimates of its potential net losses from Windstorm Kyrill are around €140 million ($181 million) before tax. Its gross claims estimate is around €220 million ($284 million), but this is...
Swiss Re Backs Independent European Agency to Assess Nat Cat Risks
Jan 23 2007 // Swiss Re has issued a “focused report,” which assess the growth of the catastrophe bond market and calls for the establishment of an independent agency to “aggregate European claims data and provide the...
AIR Estimates Europe Storm Insured Losses at $5 to $10 Billion
Jan 22 2007 // Catastrophe risk modeler AIR Worldwide has issued a bulletin estimating insured losses from Winter Storm Kyrill (or Cyril) at between €4 billion and €8 billion ($5.18 billion and $10.37 billion). The GDV German...
28 Die as Storm Lashes Europe; Transport Chaos, Widespread Damage
Jan 19 2007 // The mild winter weather that much of Europe has been enjoying for the last month came to a sudden halt earlier this week when the most violent storm to hit the continent since 1999 swept in from the Atlantic. So far 28...
Allianz Plans Buy Out of AGF Minority Shares; German Life Minorities
Jan 18 2007 // Germany’s Allianz SE, Europe’s largest insurer in terms of gross premiums written, is set to get even bigger. The Munich-based Company announced plans to acquire the remaining 42.4 percent of the shares in...
AIG Europe, Accenture Sign 10-Year Outsourcing Agreement
Jan 18 2007 // Accenture has signed a 10-year, $100 million business processing outsourcing (BPO) agreement with AIG Europe S.A. The Agreement provides for Accenture to set up an IT platform and insurance support services to AIG...
China, EU Start Trade Talks
Jan 18 2007 // The European Union and China on Wednesday kicked off negotiations on expanding cooperation in trade, climate change and other fields, starting a process that is expected to take at least a year to complete. Benita...
