Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
EU to Promote Alternative Energy, Cut CO2 Emissions
Mar 12 2007 // The European Council, a working group of EU country ministers, concluded its meeting in Brussels on Friday, March 9, with the announcement of ambitious goals to improve energy efficiency and reduce greenhouse gas...
People
Mar 12 2007 // Markel Insurance Co. named Thomas K. “Smitty” Smith vice president of marketing. Smith joins Markel after three years as senior vice president and managing director of the Richmond, Va., branch of Riggs,...
Marsh Comments on Effect of EU’s ‘REACH’ Regulations
Mar 7 2007 // On 29 October 2003, the European Commission adopted a proposal for a new EU regulatory framework for chemicals. The new system, dubbed REACH (Registration, Evaluation and Authorization of CHemicals), outlined a complex...
Marsh Sees ‘Demand Surge’ in Romania’s Compulsory D&O Law
Mar 2 2007 // “Changes to Romanian corporate law, making it compulsory for companies to purchase directors’ & officers’ liability insurance (D&O), are creating a surge in demand for cover,” according to...
Allianz Preliminary Earnings Report-Net Income up 60% to $9.2 Billion
Feb 22 2007 // Germany’s Allianz released strong growth figures in its preliminary earnings report with net income for the year up by 60 percent from just under €4.4 billion ($5.77 billion) in 2005 to more than €7 billion ($9.2...
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...
