Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
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...
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,...
