Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
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...
S&P Revises Assicurazioni Generali Outlook to Negative
Nov 19 2002 // Standard & Poor’s Rating Services announced that, although it was affirming the ‘AA’ insurer financial strength and counterparty credit ratings on Assicurazioni Generali SpA, the parent and main...
HCC To Acquire St. Paul’s Spanish Operations
Nov 13 2002 // Houston-based HCC Insurance Holdings, Inc. announced that it has reached an agreement to acquire St. Paul España, Compañia de Seguros, S.A., The Spanish P/C operations of the St. Paul Companies, headquartered in...
HCC to Acquire St. Paul Espana
Nov 12 2002 // HCC Insurance Holdings Inc., based in Houston, announced the company has reached an agreement to acquire St. Paul Espana, Compania de Seguros, S.A., a property and casualty insurance company headquartered in Madrid, Spain,...
Airlines Look to Provide Their Own War and Terrorist Coverage
Nov 11 2002 // More than a year after Sept. 11, the U.S., the European Union (EU) and many other countries are still working on ways to provide adequate insurance coverage for their air carriers. While several plans have been suggested,...
Airlines Look to Provide Their Own War and Terrorist Coverage
Nov 11 2002 // More than a year after Sept. 11, the U.S., the European Union (EU) and many other countries are still working on ways to provide adequate insurance coverage for their air carriers. While several plans have been suggested,...
Swiss Re’s Chief US Economist Comments on Fed’s Rate Reduction
Nov 7 2002 // Swiss Re’s chief US economist, Kurt Karl, stated that the Federal Reserve Board’s decision to lower the target federal funds rate to 1.25 percent from 1.75 percent was an attempt to “bolster the economy...
RMS Update Shows European Windstorm Damages Climb Upward
Nov 5 2002 // Risk Management Solutions, Inc. (RMS) has updated its estimate of damages and insured losses from Windstorm Jeanette, originally released on Oct. 30. RMS now estimates that total damages from the storm, which impacted...
Allied World Assurance Holdings Opens Irish Subsidiary in Dublin
Oct 29 2002 // Bermuda-based Allied World Assurance Holdings, Ltd. announced that the company has been granted a license to operate in Ireland and has commenced business with the opening of a new office in Dublin. The bulletin explained...
Report German Gov’t. Seeks Two Month Extension for Airline Terrorist Coverage
Oct 29 2002 // Germany’s newly reelected government has reportedly asked the European Commission (EC) for permission to extend emergency terrorist risk coverage to the country’s airlines until the end of the year. The EC...
