Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Best’s 2006 European review highlights common industry concerns
Aug 7 2006 // For the insurance industry, global controversies tend to obscure some equally important debates going on in smaller forums around the globe. The principal controversy in the U.S. revolves around state vs. federal...
ACE Europe Says D&O Market Needs Clarity on Extradition
Aug 3 2006 // The U.K.-based ACE European Group, a primary underwriter of directors and officers insurance in the London market, issued a statement that it is “taking a lead in the D&O market by providing greater clarity in...
XL to Restructure European Reinsurance Operations
Aug 2 2006 // Bermuda’s XL Capital Ltd. announced plans to develop a new, integrated European platform for its reinsurance operations, centered around a new company, which it is establishing in Dublin. Branch offices will be...
Hannover Re $150 Million Cat Bond Covers European Windstorm Risks
Aug 1 2006 // Germany’s Hannover Re announced that Eurus Ltd., a special purpose vehicle, has issued a CAT bond with a volume of $150 million, giving the reinsurer windstorm protection with immediate effect for a term of...
Baldwin to Retire from Allied World’s UK Operations
Jul 28 2006 // Michael Baldwin, managing director of Allied World Assurance Company’s London branch, is retiring from the company effective Monday, July 31, 2006. Baldwin was one of four founding members of Allied World during its...
Banque AIG Appoints Dusek as Executive Director
Jul 25 2006 // Banque AIG, a wholly-owned subsidiary of American International Group, Inc., has hired Tomas Dusek as an executive director in its European marketing group. Dusek will focus on developing business opportunities in Central...
States may scrap full collateral requirements for ‘alien’ reinsurers
Jul 24 2006 // In an abrupt departure from procedures that have been in place since World War II, the National Association of Insurance Commissioners took a first step at its recently concluded meeting in Washington, D.C., towards...
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...
