Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Allied World Opens London Underwriting Branch
May 22 2003 // Bermuda-based Allied World Assurance Holdings, Ltd announced the opening in London of the first underwriting branch of its Irish insurance subsidiary, Allied World Assurance Company (Europe) Limited (AWAC-E), under the...
S&P Issues Report on European Insurance Sector
May 20 2003 // Standard & Poor’s Ratings Services has issued a report based on its analysis of 34 “debt-issuing insurers,” which concludes that “despite signs of greater stability in the European insurance...
EU Parliament Passes “Polluter Pays” Directive
May 15 2003 // The European Union Parliament in Strasbourg has passed what could be a far reaching directive, mandating that whoever causes environmental pollution will be responsible for the costs of cleaning it up. Part of the proposed...
CGI and HP Deliver Business Platform for Lloyd’s Kinnect
May 7 2003 // CGI Group (Europe) Ltd and HP (Hewlett Packard/Compaq) jointly announced that they have delivered a business platform for Kinnect Inc., a Lloyd’s of London sponsored initiative, to improve the efficiency and...
Chubb Notes Record 1stQ Net Income of $224.6M
May 1 2003 // The Chubb Corporation reported that net income in the first quarter of 2003 was a record $224.6 million, a 13.3 percent increase over net income of $198.2 million in the first quarter of 2002. Net income per share...
ABS EQECAT TO HOLD 2003 EUROPEAN CATASTROPHE MANAGEMENT SUMMT IN BARCELONA
Apr 21 2003 // Oakland-based EQECAT, Inc. announced that its 2003 European Catastrophe Management Summit will take place on June 24-27 at the Hotel Princesa Sofia InterContinental in Barcelona, Spain. “This year the European Summit...
War in Iraq: The Known and Unknown Consequences for the Industry
Apr 7 2003 // As President Bush and his advisors made good on their defiant promise to act alone if necessary to get rid of Iraq’s tyrannical régime, the world heard echoes of Mark Antony’s cry of rage and revenge –...
SWISS RE SIGMA STUDY PUTS 2002 CAT LOSSES AT $13.5B
Apr 7 2003 // A new Swiss Re sigma report, “Natural catastrophes and man-made disasters in 2002,” estimates the cost to the industry at $13.5 billion, $1.5 billion more than the company’s preliminary estimates released...
War in Iraq: The Known and Unknown Consequences
Apr 7 2003 // As President Bush and his advisers made good on their defiant promise to act alone if necessary to get rid of Iraq’s tyrannical régime, the world heard echoes of Mark Antony’s cry of rage and revenge,...
SCOR Posts $496 Million* Loss for 2002
Apr 1 2003 // France’s Scor Group, the world’s seventh largest reinsurer, registered a net loss of 455 million Euros ($496 million) for the year 2002; 55 million Euros ($60 million) more than it had said it expected in...
A.M. Best Affirms Generali’s A+ (Superior) Ratings
Mar 27 2003 // A.M. Best Co. announced that it has affirmed the A+(Superior) financial strength rating of Italy’s Assicurazioni Generali S.p.A., and assigned a negative outlook. It also announced that it has affirmed...
ABS EQECAT to Hold 2003 European Catastrophe Management Summit in Barcelona
Mar 26 2003 // Oakland-based EQECAT, Inc. a subsidiary of Houston’s ABS Consulting, announced that its 2003 European Catastrophe Management Summit will take place on June 24-27, 2003 at the Hotel Princesa Sofia InterContinental in...
Allianz: No Plans to Cancel Airline Coverage, EU Prepares Back-up Help
Mar 26 2003 // Germany’s Allianz AG, one of the largest providers of coverage to the European Community’s air carriers, has issued a statement indicating that, while it has no plans to cancel coverage on flights headed for...
ACE European Markets Launches Two New Divisions
Mar 25 2003 // ACE European Markets announced the launch of two new divisions: ACE Financial Solutions Europe, a division of ACE European Markets Insurance Limited (AEMI), located in London, and ACE Financial Solutions Reinsurance...
Swiss Re sigma Study Puts 2002 Cat Losses at $13.5 Billion
Mar 13 2003 // A new Swiss Re sigma report, “Natural catastrophes and man-made disasters in 2002,” estimates the cost to the insurance industry at $13.5 billion, $1.5 billion more than the company’s preliminary...
Munich Re Issues 2002 Natural Catastrophe Study; L.A., S.F. are High Risk
Mar 11 2003 // Munich Re has issued a new survey report – “topics Natural Catastrophes 2002.” The study found that “storms and floods have an even greater impact on insurers’ claims burdens than in the year...
European Commission Approves GAUM Sale to Berkshire, Converium, Munich Re
Mar 3 2003 // The European Commission, the European Union’s regulatory authority, has approved the sale of a number of stakes in Global Aerospace Underwriting Managers Limited (GAUM), a consortium that insures airlines and...
Cybersettle Receives U.K. Patent for Insurance Dispute Settlement Method
Feb 11 2003 // New York-based Cybersettle, Inc., a leading online claims mediation company, announced that it has received a patent in the U.K. on its method for settling disputes, the first time such a patent has been granted in the...
AXA 2002 Gross Revenues Top $80 Billion
Feb 6 2003 // France’s AXA Group released earnings results showing that its total gross revenues in 2002 reached 74.728 billion Euros ($80.7 billion), approximately the same figure it reported for 2001. The company said, however,...
EC to Decide Whether to Charge U.K. on Lloyd’s Regulation
Jan 20 2003 // The European Commission, the top regulatory body of the European Union, is reportedly set to decide on Tuesday whether to file formal charges against the U.K. for failing to apply EU regulatory standards to the...
