Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Best Affirms Ratings of GE Frankona Group
Apr 7 2005 // A.M. Best Co. announced that it has affirmed the financial strength ratings of “A” (Excellent) and the issuer credit ratings of “a” of the operating companies of Germany’s GE Frankona Group....
New GAO Study: U.S. Needs Government Help to Insure for Catastrophes and Terrorism
Mar 31 2005 // A new U.S. government report indicates that the private U.S. insurance industry would be placed under enormous strain without government intervention if there were a major terrorist or catastrophic event or series of...
Linsure Establishes Foothold in Spain
Mar 25 2005 // Houston-based Linsure Holdings, Inc. has announced the launch of “Linsure Directo” through its wholly owned European subsidiary Linsure Iberica S.A. Linsure is a diversified holding company with strategic...
ACE Europe Announces 3 New P/C Business Units for U.K., Ireland
Mar 21 2005 // ACE European Group announced the creation of three new business units “to target growth opportunities in specific property and casualty (P&C) business lines in the UK and Ireland.” The new units are ACE...
Aviva Operating Profits up 25% to $4.5 Billion; Offers $2.11 Billion for RAC; Best, S&P Comment
Mar 10 2005 // Aviva (formerly CGNU/Norwich Union) announced a net operating profit for 2004 of £2.344 billion ($4.5 billion), a 25 percent increase from 2003’s £1.72 billion ($3.3 billion). The U.K.’ largest insurer also...
QBE Adds Greenhill Underwriting Group
Mar 1 2005 // QBE announced on Tuesday it had agreed to acquire Greenhill Underwriting Group, subject to regulatory approval, to enhance its strength and profile in the continental European market. Greenhill is a UK-based underwriting...
Quanta Capital Opens London Branch Office
Feb 23 2005 // Bermuda-based Quanta Capital Holdings Ltd., which provides specialty insurance, reinsurance and risk consulting services through its subsidiaries, announced the opening of a London insurance branch following the receipt,...
Best Sees Underwriting Discipline in January European Reinsurance Renewals
Feb 21 2005 // European January reinsurance renewals confirm A.M. Best Co.’s expectations that underwriting discipline is being maintained, despite wide capacity availability. The rating agency noted that overall premium rates have...
Tillinghast Study: Insurers Welcome ERM Globally, but it Remains a Work in Progress
Feb 8 2005 // Insurers around the globe are making progress – quickly in some areas – with using an integrated risk and capital management approach to drive business decisions, according to the third biennial survey of risk...
PartnerRe Believes Claims from European Windstorm Erwin to be Between $50-$60 Million
Jan 26 2005 // Bermuda-based PartnerRe Ltd. announced that claims relating to its exposure to Windstorm Erwin, which hit Northern Europe in early January, are expected to be between $50-$60 million. Windstorm Erwin battered Northern...
Are We Repeating the Past … Again’
Jan 24 2005 // In a collection of works titled The Life of Reason, the philosopher George Santayana wrote, “Those who cannot remember the past are condemned to repeat it.” There’s now a momentous shift underway in the...
EU Approves Fortis’ Portuguese Bancassurance Deal
Jan 20 2005 // The European Union has approved a deal between Fortis, the Belgian-Dutch financial services giant, and Banco Comercial Português (BCP), Portugal’s biggest private bank and a major insurer. The approval gives Fortis...
Quanta Capital Appoints Byrne European Chief Underwriting Officer
Jan 19 2005 // Bermuda-based Quanta Capital Holdings Ltd., which provides specialty insurance, reinsurance, and risk consulting services through its subsidiaries, announced the appointment of John J. Byrne as Chief Underwriting Officer...
ACE European Group Completes Transfer of Belgian Sub; Best, S&P Comment
Jan 18 2005 // ACE European Group confirmed that as of Jan.1, 2005 its belgian subsidiary, ACE Insurance S.A. N.V., has successfully transferred its insurance and reinsurance portfolio into ACE European Group Limited (AEG). “ACE...
Navigators Debuts Belgium Office
Jan 17 2005 // Navigators Underwriting Agency Ltd., a subsidiary of The Navigators Group Inc. announced the establishment of Navigators NV with the opening of a new office in Antwerp, Belgium. The new specialist marine underwriting unit...
Europe Counts Storm’s Costs, as Clean-up Begins
Jan 13 2005 // California isn’t alone in trying to cope with deadly weather. Northern Europe has been lashed by the most powerful storm to hit the continent since Lothar and Martin ravaged France, Switzerland and Germany in...
14 Dead as Storms, Floods Hit Northern Europe
Jan 10 2005 // A severe winter storm, packing winds up to 150 km/hr (94 mph) and heavy rains has paralyzed much of Northern Europe, caused at least 14 deaths, knocked out power over wide areas and severely interrupted sea, air and land...
Guy Carpenter Introduces Solvency II Capital Benchmarking Tool
Jan 7 2005 // Guy Carpenter & Company, Inc., Marsh & McLennan’s risk and reinsurance specialist, has announced the introduction of “Capital Adequacy Projector” (CAP), described as a “capital...
Allianz Providing ‘On the Ground’ Help for Tsunami Victims in Phuket
Jan 6 2005 // Germany’s Allianz announced that it has been providing “on the ground” support to customers in Phuket, Thailand, the popular tourist island which was hit by the tsunamis that devastated Southeast...
Quanta Capital Raises $40 Million; Best Rates Insurer’s EU Sub ‘A-‘
Dec 22 2004 // Bermuda-based Quanta Capital Holdings Ltd., which provides specialty insurance, reinsurance, and risk consulting services through its subsidiaries, announced that it has completed the private placement of $40 million of...
