Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
European Parliament Backs Reinsurance Regulation Directive
Jun 8 2005 // The European Parliament has voted its approval of new laws and regulations, which now need to be approved by EU member governments, for the regulation of the reinsurance industry within the 25-member block. The proposed...
Voters’ Revenge Part II – Dutch Also Reject EU Constitution
Jun 2 2005 // Voters in the Netherlands have overwhelmingly rejected the proposed EU Constitution. Nearly 62 percent of them (participation was around 62.8 percent of eligible voters) expressed their disapproval of the lengthy...
EU Trade Commissioner Urges More Action by WTO on Doha Round
Jun 1 2005 // Peter Mandelson, the European Union’s Trade Commissioner, has expressed his concern about the slow progress being made towards the liberalization of trade barriers. The “Doha Round” (named after the...
The Revenge of the Voters – France Rejects EU Constitution
May 30 2005 // Seventy percent of the eligible voters in France expressed their opinion on Sunday, May 29 – a turnout not seen in any recent election. Fifty-five percent of them voted a resounding ‘NO’ to the proposed...
S&P Raises Ratings on 7 Insurance Holding Companies
May 30 2005 // Standard & Poor’s Ratings Services announced that it has raised its long-term counterparty credit and debt ratings on seven unregulated insurance and reinsurance holding companies. S&P also raised its...
Zurich Ireland Authorized for European Corporate; S&P Assigns ‘A+’ Rating
May 24 2005 // Zurich Financial Services Group (ZFS) announced today that Zurich Insurance Ireland Limited (ZIIL), formerly Eagle Star Insurance Company (Ireland) Ltd., will become an EU-wide risk carrier for Global Corporate business...
Zurich Q1 Net up 21% to $779 Million
May 19 2005 // Zurich Financial Services Group reported strong growth in net income in the first quarter of 2005 with net income up 21 percent to $779 million, compared to $644 million in the first quarter of 2004. Other highlights...
ABI Calls EU Single Market Directive a ‘Breath of Fresh Air’
May 9 2005 // The Association of British Insurers (ABI) has issued a bulletin endorsing the European Commission’s new approach to the single market for financial services. Speaking on the day that the Commission published its...
XL Posts $442.9 Million Q1 Net
Apr 27 2005 // Bermuda’s other major insurer, XL Capital Ltd., joined ACE (See previous article) in reporting slightly lower profits for the first quarter of 2005, as it posted net income of $442.9 million or $3.18 per share,...
Allianz Global Risks to ‘Raise Profile’ on Liability Coverage
Apr 26 2005 // Allianz Global Risks, the industrial business unit of Germany’s Allianz, announced its intention to raise the division’s “activity and profile in Liability insurance.” In an on-line interview on the...
European Nations Offer Lessons in Insuring Catastrophes and Terrorism
Apr 18 2005 // GAO Study Explores Examples of How Public-Private Insurance Partnerships Operate A new U.S. government report indicates that the private U.S. insurance industry would be placed under enormous strain without government...
Radian Names MacDonald VP of International Public Finance Group
Apr 14 2005 // Radian Asset Assurance Inc., a leading provider of municipal bond insurance and financial guaranty services, announced that Iain MacDonald has agreed to join the company as VP-International Public Finance in its growing...
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...
