Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
S&P Calls 2005 ‘a Good Year’ for European Insurers, Despite Losses
Jan 11 2006 // A report published by Standard & Poor’s Ratings Services, “Industry Report Card: European Insurance,” notes that “despite the large losses related to hurricanes Katrina, Rita, and Wilma, 2005...
ACE Cites Increased Risks in Outsourcing IT Systems
Jan 9 2006 // ACE European Group Limited has issued a warning to organizations who outsource their IT systems, which indicates they “are increasing their potential vulnerability to security breaches causing possible long term...
‘EuroTempest’ Introduced to Forecast Potential Windstorm Damage
Jan 6 2006 // A team in the U.K. has produced a new wind damage prediction tool called EuroTempest, designed to provide local damage forecasts for European windstorms. An announcement on the Lloyd’s Website (www.lloyds.com) notes...
Euler Hermes Issues Global 2006 Economic Assessment
Jan 5 2006 // Euler Hermes ACI, a provider of trade credit insurance and risk mitigation information, has released a special global risk analysis report from its U.S. headquarters in Maryland. The company, a subsidiary of French insurer...
Allianz Moves Ahead with RAS Merger
Dec 30 2005 // German’s Allianz AG has released a series of documents in furtherance of its plans to merge its German and Italian operations into one European Group. As announced last September (See IJ Website Sept. 13) Allianz...
The Enstar Group Reports Acquisition of UK Insurance Company
Dec 30 2005 // The Enstar Group Inc. reported that its partially owned equity affiliate, Castlewood Holdings Limited, and Shinsei Bank, Limited have signed definitive agreements for the purchase of Aioi Insurance Company of Europe...
Guy Carpenter Unveils 2005 Central, Eastern Europe Flood Report
Dec 28 2005 // Guy Carpenter & Company Ltd. reported the release of European Flood Report 2005 – Central and Eastern Europe, a detailed summary and review of 2005 Central and Eastern European flood activity. The report,...
S&P Affirms Converium’s Ratings; Off CreditWatch; Outlook Stable
Dec 22 2005 // Standard & Poor’s Ratings Services announced that it has affirmed its “BBB+” long-term counterparty credit and insurer financial strength ratings on Swiss-based reinsurer Converium AG and the...
Eurpoean Collector, Insurer Addresses ‘Art Basil’ in Miami Beach
Dec 19 2005 // The trials and tribulations of maintaining and insuring a well-known corporate art collection, from bombings by the IRA, to being stolen by builders and damaged when cleaners sprayed paintings with window cleaner, were...
Eurpoean Collector, Insurer Addresses ‘Art Basil’ in Miami Beach
Dec 18 2005 // The trials and tribulations of maintaining and insuring a well-known corporate art collection, from bombings by the IRA, to being stolen by builders and damaged when cleaners sprayed paintings with window cleaner, were...
SCOR Acquires Alea’s Renewal Rights to European P/C Treaties
Dec 16 2005 // French reinsurer SCOR Group announced that it has reached agreement with the Alea Group to acquire the renewal rights to its European reinsurance treaties for 2006. The move follows Alea’s sale of its renewal rights...
Report: Europe’s Insurers Ignore IT Infrastructure Risks When Pricing
Dec 6 2005 // More than 50 percent of European insurance companies appear to be ignoring the physical environment in which information technology infrastructure is housed when setting premiums, according to research commissioned by...
Companies May Not Be Protected Against Personal Privacy Breaches
Dec 5 2005 // As more companies outsource the processing of sensitive personal information, insurance brokers and their clients need to be better educated about protecting customer and employee privacy, and about data security,...
Companies May Not Be Protected Against Personal Privacy Breaches
Dec 4 2005 // As more companies outsource the processing of sensitive personal information, insurance brokers and their clients need to be better educated about protecting customer and employee privacy, and about data security,...
News Briefs
Dec 4 2005 // Willis Expands in China, Latin America: In a breakthrough agreement, global insurance broker Willis Group Holdings Limited, has received written approval from the China Insurance Regulatory Commission (CIRC) to increase...
Zurich Appoints Hongler Swiss CEO
Nov 30 2005 // Zurich Financial Services Group announced the appointment of Markus Hongler, 48, as the new CEO in charge of its Swiss business effective Jan. 1, 2006. He succeeds Hans-Jürg Bernet, 56 who is retiring after serving as...
European Fine Art Collector, Insurer Discusses His Trials, Tribulations at Art Basil, Miami Beach
Nov 30 2005 // The trials and tribulations of maintaining and insuring a well-known corporate art collection, from bombings by the IRA, to being stolen by builders and damaged when cleaners sprayed paintings with window cleaner, were...
Lord Levene Urges U.K. Reinsurers to Support Changes in U.S. Trust Fund Collateral Requirements
Nov 29 2005 // Lloyd’s Chairman, Lord Levene, has called on the London market’s reinsurers to play their part in European efforts to remove the current “inappropriate system” of collateralisation requirements in...
Munich Re Issues $128.7 Million Windstorm Cat Bonds
Nov 28 2005 // Cat bonds seem to be enjoying something of a revival in Europe, largely as a response to increased windstorm and flood losses, as well as the passage of Hurricane Katrina. Munich Re recently increased its commitment to...
Whittington to Set up New Singapore Insurer
Nov 18 2005 // The insurance division of the Omni Whittington Group is to demerge and will benefit from a major injection of expansion capital. A new holding company, Whittington Group Pte Limited, will be domiciled in Singapore with net...
