Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
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...
S&P Assigns AIG Europe N.V. ‘AAA’ Rating
Dec 13 2004 // Standard & Poor’s Ratings Services announced that it has assigned its ‘AAA’ financial strength rating and a stable outlook to AIG Europe (Netherlands) N.V. According to S&P credit analyst Grace...
European Insurance Summit 2004 Offers Some Words to Live By
Dec 6 2004 // Rating agencies are a reality, and we have to live with them,” Martin Kauer, CFO, Converium AG. “Market share is the enemy of risk management,” Brian O’Hara, president and CEO, XL Capital....
Swiss Re Economists Note Stock Market Risk
Dec 3 2004 // Swiss Re’s eighth survey of economists’ opinions shows they consider stock market risk to be substantial. The reinsurer’s “Economic Risk Survey,” conducted in October, also indicated that the...
FERMA Survey Finds Risk Managers Question Broker Compensation; More Transparency Needed
Dec 1 2004 // According to a recent e-mail survey, conducted by the Federation of European Risk Management Associations (FERMA), risk managers and their associations have long questioned how brokers are compensated. FERMA queried the...
S&P Reports European Insurers’ Ratings Stabilizing
Nov 26 2004 // A report from Standard & Poor’s Ratings Services indicates that its ratings on Europe’s insurers have continued to stabilize during 2004. “Only five out of the 20 groups covered in this report...
Aon Re Services Appoints Jean-Mairet as Director – Structured and Traditional Life Reinsurance – Europe
Nov 24 2004 // Aon Re Services Global Accident, Health and Life announced that Eduardo Jean-Mairet has joined the Life practice group as Director – Structured and Traditional Life Reinsurance (Europe). “He will use his...
Best Affirms Berkley-Europe’s ‘A’ Rating
Nov 24 2004 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) of U.K.-based W. R. Berkley Insurance (Europe) Limited (WRB). Best also assigned an issuer credit rating (ICR) of...
ACE Europe Restructures UK & Ireland P/C Operations
Nov 17 2004 // ACE Europe has announced the restructuring of its UK and Ireland Property & Casualty Operations into four distinct regions – North, Midlands and South West, South East and Ireland. Ace said: “The four...
ACE Announces Executive Changes in Europe, Bermuda
Nov 16 2004 // Bermuda’s ACE Limited has announced several executive appointments, as follows: — Andrew Kendrick, currently president and CEO of ACE Bermuda, has been named chairman and CEO of ACE European Group. —...
