Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Insurers Have Limited Exposure to East Europe Flood Claims
Aug 20 2002 // A number of European insurers and reinsurers have indicated that despite the widespread damages caused by the ongoing floods in Germany and Eastern Europe, their exposure to claims is limited. With analysts now increasing...
European Flood Update – Losses in the Billions
Aug 19 2002 // Even as German Chancellor Schroeder met with other European leaders in Berlin on Sunday to find ways of dealing with the unprecedented floods sweeping across Eastern Europe, workers in Budapest struggled to contain the...
Partner Re Reports Claims from European Flooding Could Approach $100M
Aug 19 2002 // Bermuda-based PartnerRe Ltd. reports that claims from its exposures to flooding currently impacting Europe are expected to approximate $100 million. Over the past week, heavy rainfall has flooded much of eastern and...
European Insurers Expect Millions of Euros in Flood Claims
Aug 16 2002 // Many European insurers expect claims totaling millions of euros as flooding that has heavily damaged areas of the Czech Republic and Austria now threaten eastern Germany. Reuters reports that several European...
S&P’s Maintains Negative Outlook for European Reinsurers
Aug 16 2002 // Standard & Poor’s said that although the European reinsurance market is expected to remain hard beyond 2003, it maintains its negative outlook for the industry for the fifth year running, due to uncertainty over...
S&P’s: ACE Europe Reports $90 Million Loss for 2001
Aug 15 2002 // Standard & Poor’s Ratings Services said that its ratings and outlook on Belgium- based insurer ACE Insurance S.A.—N.V. will not be affected at this time by the company’s reported negative net income of...
ACE Hires Shaw to Head ACE Tempest Re Europe
Aug 7 2002 // ACE Tempest Re appointed Matthew Shaw as Managing Director of ACE Tempest Re Europe, based in London. Shaw joins the company from St Paul, where he served as a director of the board of the Managing Agent and Active...
Trenwick Begins Arbitration with Swiss Re in $55 Million Dispute
Jul 2 2002 // Bermuda-based Trenwick Group Ltd. announced that it has commenced an arbitration proceeding seeking $55 million in damages and other relief against European Reinsurance Company of Zurich, a subsidiary of Swiss Re. Trenwick...
Guy Carpenter Names Martin Markoff as European Managing Director
Jun 28 2002 // Guy Carpenter &. Company, Inc., the global risk and reinsurance division of Marsh & McLennan, announced the appointment of Martin Markoff, 44, as Managing Director for its Continental Europe operations. “In...
European Insurers Face WorldCom Losses
Jun 27 2002 // Most of Europe’s larger insurance companies have some exposure to losses resulting from the meltdown of WorldCom, the telecommunications giant which announced Tuesday night that it had improperly accounted for around...
EU Airlines Back Government Supported Terrorist Coverage Plan
Jun 14 2002 // As a crucial meeting of the European Union’s Transport Ministers approaches, the EU’s airlines have increasingly lined-up behind a plan which would establish a mutual insurance fund, backed by EU governments,...
EU Seeks to Harmonize Auto Coverage
Jun 11 2002 // The European Commission (EC) in Brussels has announced proposals to harmonize the European Union’s automobile insurance regulations. The EC wants all policies to cover third party liability up to € 1 million...
AXIS Specialty Opens European HQ in Dublin
May 29 2002 // AXIS Specialty Limited, the newly formed Bermuda-based insurer, announced that it has received Irish Government approval to commence business as an insurer and reinsurer from its European headquarters in Dublin,...
EU Extends Airline Aid Deadline to June 30
May 28 2002 // The European Commission (EC), the European Union’s highest regulatory authority, has extended the scheduled end of aid programs by individual governments to Europe’s airlines until the end of June. Following...
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...
