Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
GM to Close Portuguese Factory by End of 2006; 1,200 Lost Jobs Possible
Jul 12 2006 // GM is to close its factory in Portugal this year and move production of its Combo vehicle to its factory in Zaragoza, Spain, the company’s Europe vice president said July 11. The move means 1,200 lost jobs at the...
Generali Signs Deal to Acquire 51% Stake in Bulgaria’s Orel-G Holding
Jul 11 2006 // It’s not just the Italian Football (soccer) team that’s in an expansive mood. Italy’s Generali Group announced that it has signed an agreement for the acquisition of a 51 percent shareholding in Bulgarian...
SCOR Opts to Become First French Societas Europaea
Jul 6 2006 // France’s SCOR Group announced that its Board of Directors has adopted plans to transform the Company into a Societas Europaea, or SE. SCOR SA – its current status – will become the first French listed...
News Briefs
Jul 4 2006 // EU Leaders Fiddle While Europe Burns: The crisis in the European Union, provoked when French and Dutch voters rejected the EU Constitution, is being largely ignored by Europe’s leaders. Instead of a bit of...
Giarini, Sellitsch Named to Insurance Hall of Fame
Jun 30 2006 // The International Insurance Society announced that Orio Giarini, of Switzerland’s Geneva Association and Siegfried Sellitsch of Austria’s Wiener Staedtische have been named to the prestigious Insurance Hall of...
ACE Enhances U.K. Environmental Coverage Package
Jun 23 2006 // ACE European Group announced that it is offering an extensive and affordable environmental liability cover specifically for smaller and mid-sized private and corporate businesses, as part of its existing liability and...
AXA, Credit Suisse Agree on $10 Billion Winterthur Sale
Jun 14 2006 // This time around the AXA Group and Credit Suisse lost no time in coming to an agreement to sell Winterthur, the Swiss bank’s insurance division, to the French insurer for CHF 12.3 billion (around $10 billion –...
Liverpool’s Manager Calls for FIFA to Pay Up for World Cup Injured Player
Jun 12 2006 // Liverpool, England, manager Rafael Benitez hit out at FIFA Saturday, saying clubs should be compensated when their players are injured while on international duty. Benitez’s outburst came days after France and...
Lord Levene Sets Lloyd’s and London’s Priorities for Fellow Peers
Jun 9 2006 // In a speech to the House of Lords, given as part of a discussion on “London as a World Financial Center,” Lord Peter Levene stressed the financial health and leading position of both London and the...
Euler Hermes “Studying” Acquisition of Allianz Ireland Credit Insurance
Jun 2 2006 // Global trade credit insurer Euler Hermes is studying the acquisition of Allianz Ireland’s credit insurance activities, which have an annual turnover of around €10 million ($12.2815 million) with a 45 percent share...
Zurich Names Huerlimann CEO Global Corporate in Europe
Jun 2 2006 // Zurich Financial Services Group has appointed Thomas Huerlimann, 43, to Chief Executive Officer Zurich Global Corporate in Europe effective June 1, 2006. He joined Zurich as Head of Group Reinsurance in 2003 and became...
Spain’s MAPFRE to Change Corporate Structure, Expand; S&P Comments
Jun 1 2006 // Spain’s largest domestic insurance group, Sistema Mapfre, announced a major structural reorganization, which will eventually result in all of the Group’s activities being concentrated in its publicly traded...
RMS Releases “Fundamentally New” European Windstorm Model
May 30 2006 // Newark, Calif.-based Risk Management Solutions has launched “a fundamentally new platform for quantifying wind-related risk in 12 European countries,” said the announcement. “Meteorological modeling has...
Risk of European Floods Greater, Eqecat Says
May 24 2006 // Eqecat Inc., a-risk modeling company, said previous risk models underestimated Europe’s risk from floods. The company plans to release in late June an upgraded version of its German flood model, part of its EuroFlood...
AIA’s Snyder Tells London Audience GATS Outlook ‘Very Dark’
May 23 2006 // “It’s very dark right now,” said David F. Snyder, the American Insurance Association’s Vice President and Assistant General Counsel. He wasn’t speaking about the weather. He was referring to...
Willis Named “2006 European Commercial Broker of the Year”
May 23 2006 // Global broker Willis Group Holdings has been named the “2006 European Commercial Broker of the Year” for the second consecutive year. The award was presented as part of the annual European Risk Management...
EEA Report Says ‘Tackling Climate Change’ Will Save Lives, $15 Billion
May 15 2006 // A brief status report from the European Environment Agency (EEA)notes that “tackling climate change will improve Europe’s air quality, cut premature deaths and could save €12 billion [$15.4 billion] annually...
S&P Lowers QBE Hongkong Rating
May 15 2006 // As previously indicated (See IJ Website May 11), Standard & Poor’s Ratings Services has lowered its insurer financial strength rating on Hong Kong-based general insurer QBE Hongkong & Shanghai Insurance...
PMI Europe Appoints Giorio New Country Manager for Italy
May 12 2006 // PMI Mortgage Insurance Company Limited (PMI Europe), the European mortgage insurance and credit enhancement subsidiary of The Calif.-based PMI Group, Inc., announced the appointment of Mr. Andrea Giorio as its new Country...
S&P Puts QBE Hongkong on CreditWatch after Guarantee Withdrawn
May 11 2006 // Standard & Poor’s Ratings Services announced from its Melbourne office that it has placed its “A+” insurer financial strength rating on Hong Kong-based general insurer QBE Hongkong & Shanghai...
