Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
European Commission Approves inreon Online Reinsurance Exchange
May 27 2002 // The European Commission, the European Union’s highest regulatory authority, has approved inreon the joint venture established by Swiss Re and Munich Re in December 2000, to provide online reinsurance exchange...
Six Leading Insurers To Set Up Joint European Venture to Cover Terrorist Risks
Apr 5 2002 // Six of the world’s largest insurance companies announced that they intend to establish a joint venture in Luxembourg, named Special Risk Insurance and Reinsurance Luxembourg S.A. (SRIR), to provide “limited...
EU Approves Zurich, Deutsche Bank Deal
Mar 28 2002 // The European Commission has approved the complex series of deals between Zurich Financial Services and Germany’s Deutsche Bank first announced last September. Under the terms of their agreement Zurich will acquire a...
EU Governments Likely to Extend Airline Terror Coverage
Mar 26 2002 // The European Commission, under the leadership of Transport Commissioner Loyola de Palacio, seems poised to extend emergency terrorist coverage for the airlines of EU member states for another two months. The emergency...
Eureko May Postpone Market Listing
Mar 18 2002 // Eureko, the pan-European consortium of insurers, has indicated that its plans to list its shares on several European stock markets may have to be postponed, due mainly to the fall in profits from asset management...
Lloyd’s Seems to be Weathering the Storm
Mar 11 2002 // After the record losses from the WTC attacks, two cash calls, a buffeting by the rating agencies, a proposed reorganization of its basic financial structure and an audit by the National Assoc-iation of Ins-urance...
Lloyd’s Seems to be Weathering the Storm
Mar 11 2002 // Elton John’s “I’m Still Standing” could become Lloyd’s theme song—it’s a better fit than “Candle in the Wind.” After the record losses from the WTC attacks, two cash calls,...
Global-Reinsurance Industry Foresees Growth in Online Services
Mar 11 2002 // If anyone needs proof that the Internet is no longer a curiosity, the reinsurance industry is a good place to start looking. Reinsurance companies aren’t generally known for the rapidity with which they adopt...
European Financial Services Round Table Issues Economic Report
Feb 26 2002 // A report commissioned by the European Financial Services Round Table (EFR) has concluded that “the completion of the single market for financial services in Europe would create substantial benefits for consumers...
Holocaust Insurance Claims Panel Faces Recriminations over Delays
Feb 11 2002 // Many European countries observed Sunday, Jan. 27 as Holocaust Memorial Day, a time set aside to honor the memory of the 12 million human beings—over six million of them Jewish—who perished at the hands of the Nazis...
Skandia Named One of Europe’s 10 Greatest Workplaces
Jan 28 2002 // Fortune magazine has named Sweden’s Skandia as one of the one of the ten “greatest workplaces” in Europe, following a survey of journalists, securities analysts, business school professors, consultants...
SCOR Launches Multi-Continental CAT Bond with RMS Technical Help
Jan 28 2002 // On Jan. 3, French reinsurer SCOR Group launched the second installment of its innovative Atlas Re catastrophe bond, with technical analysis and parameters provided by Newark, Calif.-based Risk Management Solutions (RMS)...
Eagleburger Briefly Resigns as Holocaust Claims Fund Chairman
Jan 24 2002 // Former Secretary of State Lawrence Eagleburger reportedly stormed out of a meeting with European insurers yesterday, and abruptly resigned his position as Chairman of the International Commission on Holocaust Era Insurance...
S&P Places MSI Europe on CreditWatch-Negative
Jan 8 2002 // Standard & Poor’s announced that it has placed Mitsui Sumitomo Insurance Co. (Europe) Ltd. (MSI Europe), formerly known as Mitsui Marine & Fire Ins. Co. (Europe) Ltd.’s double-‘A’...
Europe Greets the Euro
Jan 2 2002 // The long wait is finally over, as more than 300 million people in 12 member countries of the European Union finally said goodbye to their francs, marks and liras and began using Euros. The conversion is the culmination of...
Report European Commission Set to Investigate Lloyd’s Regulation
Dec 20 2001 // London’s Financial Times carries a report that the European Commission has completed a preliminary investigation of Lloyd’s operations and may well “open formal proceedings against the UK...
Report Compromise in EU, AIG Dispute Over China Branches
Dec 7 2001 // Of the hundreds of compromises and agreements reached before China was formally admitted to the World Trade Organization last month, one dispute stubbornly refused to go away – the clash between American...
S&P Affirms Eureko’s ‘A-‘ Ratings
Nov 19 2001 // Standard & Poor’s has affirmed its single-‘A’- minus counterparty credit and senior unsecured debt ratings on the Netherlands-based insurer Eureko B.V., and has rated its principle subsidiaries in...
WTO Meeting Concludes with Agreement to Launch New Trade Round
Nov 15 2001 // The World Trade Organization’s plenary session in Doha concluded in the wee hours of Wednesday morning with a breakthrough agreement by all 142 member countries to initiate a new round of trade negotiations early...
HOLOCAUST LAW QUESTIONED
Oct 29 2001 // A California law enacted in 1999 requiring that insurance companies turn over information related to European insurance policies or face loss of their licenses has been ruled an unconstitutional violation of due process,...
