Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Massive Power Failure Plunges Italy into Darkness
Sep 29 2003 // The entire Italian Peninsula from Venice to Sicily was plunged into darkness early Saturday morning by a massive power failure that knocked out the national electrical grid, stranding travelers, creating chaos in the...
Lloyd’s Deputy Chairman Addresses Changing Risk Environment
Sep 29 2003 // Lloyd’s Deputy Chairman, John Coldman, addressing the Italian Lloyd’s Correspondent’s Association on Friday (before the blackout) in Milan, highlighted the growing opportunities presented by the expansion...
ACE Europe Forms Electronic Disaster Recovery Service with BELFOR
Sep 16 2003 // London-based ACE Europe announced that it has joined forces with international damage management experts BELFOR to offer customers a disaster recovery service, as part of its new electronics insurance product. “The...
Allied World (Europe) Officially Opens London Office
Sep 10 2003 // Allied World Assurance Company (Europe) Ltd. celebrated the opening of its London underwriting branch with a reception at its offices at 22 Billiter Street yesterday. The London facility was recently approved by the...
XL Completes Purchase of Le Mans Re
Sep 5 2003 // Bermuda’s XL Capital Ltd announced that it has completed the purchase, through a subsidiary, of the remaining 33% of Le Mans Ré held by Les Mutuelles du Mans Assurances Group (“MMA”). XL and MMA formed...
Dr. Riccardo Nicolini Appointed Arch Re European Marketing Representative
Sep 5 2003 // Arch Reinsurance Ltd., a subsidiary of Arch Capital Group Ltd., announced the appointment of Dr. Riccardo Nicolini as European Marketing Representative based in Trieste, Italy. His role will be to “develop the...
Report Europe’s Insurers Take Cautious Line on Blackout Claims
Aug 18 2003 // European Insurers are reportedly adopting a “wait and see” attitude concerning potential claims from the blackout that hit the Northeastern U.S. and parts of Canada last week. Both Reuters and Dow Jones...
Allianz Posts Strong 1st Half Results, $115 Million Profit
Aug 14 2003 // Germany’s Allianz confounded many analysts’ forecasts by reporting strong gains in most of its operations, posting a net profit of 102 million euros ($115.26 million) for the first half of 2003. The...
Allianz Flood Claims Top $900 Million; Will Reduce BMW Stake
Aug 11 2003 // Germany’s Allianz announced that it has now processed nearly all of the claims from last summer’s floods in Germany and Eastern Europe, and has paid more than 805 million euros ($909.65). It also revealed plans...
Swiss Re, Mitsui Sumitomo Arrange $100M Catastrophe Risk Swap
Aug 6 2003 // Swiss Re and Mitsui Sumitomo Insurance Company have arranged a $100 million catastrophe risk swap. The catastrophe risk swap is structured in two risk exchanges of $50 million each: Japan typhoon for North Atlantic...
ACE INA UK Announces 2003 Half-Year Results
Jul 22 2003 // ACE’s creation of a unique London-based trading floor is paying considerable dividends for ACE INA UK Limited, the newly re-authorised business of the ACE European Group. Results for the first six months of trading...
AXIS Capital Announces New President and CEO
Jul 21 2003 // AXIS Capital Holdings Limited (“AXIS Capital”) announced the appointment of Dr. Karl Mayr as president and CEO of AXIS Re Europe (“AXIS Re”). Dr. Mayr will lead the AXIS Re underwriting team in...
AIR Worldwide Releases 2003 European Extratropical Cyclone Model
Jul 18 2003 // AIR Worldwide Corporation (AIR) announced the release of its 2003 European extratropical cyclone model, which is used by insurers and reinsurers to price contracts and manage risk from these windstorms. The model...
U.S. Supreme Court Defeats Holocaust Law
Jul 7 2003 // The U.S. Supreme Court last month defeated a California law that required insurance companies to provide information about all of their Holocaust-era policies. In a 5-4 vote, the High Court decided that California’s...
Lloyd’s Survey Predicts Increased Demand for Specialist Insurance Cover
Jun 23 2003 // Lloyd’s has released the results of a survey, which shows that the demand for specialist insurance cover is expected to rise significantly over the next two years as a direct result of European weather and liability...
Lloyd’s “Has Been a Beacon of Light” Lord Levene Tells Members at AGM
Jun 19 2003 // Lloyd’s Chairman, Lord Peter Levene, told Members attending its Annual General Meeting yesterday, that “Lloyd’s has been a beacon of light. We have defied the doomsayers. And we have done more than that:...
AXIS Opens London Branch Underwriting Office
Jun 18 2003 // Bermuda-based AXIS Capital Holdings Limited announced that it has received regulatory approval for the establishment of a London branch of its European insurance subsidiary, AXIS Specialty Europe Limited. AXIS recently...
Lloyd’s Sees Increasing Role for European Insurance Brokers
Jun 13 2003 // James Sutherland, who heads Lloyd’s Development & Strategy – Worldwide Markets, indicated that European brokers will play an increasingly powerful role in the European insurance market of the...
Execs Talk Future of Industry at 9th Annual ITC Forum
Jun 9 2003 // “Amateur hour is over.” Those were the words of the Sullivan Group president Gerald J. Sullivan, addressing a roomful of industry executives recently at the 9th Annual Insuring the Children Forum....
Lloyd’s Chairman Urges Expansion into European Union.
May 23 2003 // Lloyd’s Chairman, Lord Peter Levene, told more than 250 senior brokers at the first Lloyd’s European Symposium, held at the Grange City Hotel in London, that now is the time for Lloyd’s to take whatever...
