Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
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...
Lloyd’s Chairman Notes U.S. Premium Income Rises to New High of $8.2B
Jan 16 2003 // In his inaugural speech as Chairman of Lloyd’s of London, Lord Levene confirmed that the U.S. continues to be Lloyd’s largest single market accounting for approximately 40 percent of its business. He announced...
Swiss Re Says Continued Emphasis on Underwriting Essential in ’03
Jan 13 2003 // At Swiss Re’s Year-End Economic and Insurance Industry Review 2002 and Outlook 2003, held mid-December 2002 New York, various speakers discussed the precarious situation most of the world’s major economies and...
RMS Estimates Losses from Recent European Windstorm Could Reach $940 Million
Jan 9 2003 // California’s Risk Management Solutions, Inc. (RMS), a global provider of products and services for catastrophe risk management, announced that overall losses from Windstorm Calvann, which swept through France and...
FSA Re-authorizes ACE INA UK to Underwrite Insurance and Reinsurance Business
Jan 9 2003 // The Financial Services Authority, the U.K.’s insurance regulator, has re-authorized ACE INA UK Limited (ACE INA UK), formerly known as Insurance Company of North America (UK) Limited, to underwrite all 18 classes of...
RMS Expands Weather Database in U.S., Europe
Jan 7 2003 // Risk Management Solutions (RMS), a leading provider of products and services for managing natural hazard risks, has expanded the weather databases in its Climetrix(tm) weather derivatives trading and risk management system...
Warnings Abound as Winter Hits Europe
Jan 6 2003 // Blizzards in France, floods in the U.K. and Germany, avalanches in the Alps – winter hit Europe particularly hard over the weekend. An unusually heavy snowfall in Northern France shut down the country’s main...
HCC Completes Acquisition of St. Paul Espana
Jan 2 2003 // Houston’s HCC Insurance Holdings, Inc. announced that it has completed the acquisition of the St. Paul’s Spanish operations, St. Paul Espana, Compania de Seguros, S.A., headquartered in Madrid. The acquired...
Munich Re Estimates 2002 Insured Losses from Catastrophes at $11.5 Billion
Dec 30 2002 // In a yearly review released today Munich Re calculates the overall economic losses from natural and man-made catastrophes in 2002 at a staggering $55 billion, compared to $35 billion last year. However, the world’s...
A.M. Best Affirms Ratings of AGF, Groupama
Dec 24 2002 // A.M. Best Co. has affirmed its “Superior” ratings on two of France’s largest general insurers. Yesterday it confirmed the A++ (Superior) rating of Assurances Generales de France (AGF), but kept it under...
Henning Schulte-Noelle to Step Down As Allianz CEO
Dec 19 2002 // In a somewhat surprising, but not entirely unexpected move, Henning Schulte-Noelle announced he is stepping down from his position as the Chairman of the Board of Management of Allianz AG at the end of the Annual General...
HCC to Acquire Dickson Manchester Ltd.
Dec 17 2002 // HCC Insurance Holdings Inc., based in Houston, plans to acquire Dickson Manchester & Company Limited (DM), a Lloyd’s broker headquartered in London, England. According to HCC, the transaction is expected to...
HCC to Acquire Lloyd’s Specialty Broker Dickson Manchester Ltd.
Dec 17 2002 // Stephen L. Way, Chairman and CEO of Houston-based HCC Insurance Holdings, Inc. announced that the Company had reached an agreement to acquire Lloyd’s broker Dickson Manchester & Company Limited (DM). “DM...
Report Rx for European Insurers Financial Health – $18 Billion Asset Sale
Dec 11 2002 // Many European insurers, including the two largest companies, Germany’s Allianz and France’s AXA, may be hanging “For Sale” signs on some of their operations in order to restore their battered...
WSJ Says European Insurance Stocks Due for Rally
Dec 2 2002 // According to the Wall Street Journal, the shares of European insurance companies, which have been one of the most depressed sectors of the global equity markets, are due for a rally. The WSJ cited recent moves by the...
EU Adopts New Regulations on Bancassurance
Nov 21 2002 // The European Parliament, the legislature of the European Union, has adopted the recommendations of the European Commission, the EU’s executive arm, to tighten up regulations controlling Europe’s huge...
