Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Allianz Names Schlatmann from Russia’s Sberbank as CEO of European Direct Business
Aug 31 2018 // Allianz announced that it has named Bart Schlatmann as CEO of its European direct business, effective Sept. 1. Schlatmann joins Allianz from Russia’s Sberbank, where he served as chief transformation officer,...
Germany Echoes UK Concerns over Post-Brexit Risk to Insurance, Derivative Contracts
Aug 30 2018 // European Union and U.K. authorities must agree on a political solution to the threat Brexit poses to trillions of dollars in derivatives and insurance contracts, according to Germany’s top financial regulator. Felix...
UK, EU Officials Drop October Deadline for Brexit Divorce Deal: Sources
Aug 29 2018 // The UK and the European Union still say in public they want a Brexit deal wrapped up in the next seven weeks. Behind the scenes, though, senior officials on both sides admit this is unlikely. They now aim to finalize...
No-Deal Brexit Won’t Be ‘End of the World’: UK Prime Minister
Aug 28 2018 // The U.K. can still make a success of Brexit if it tumbles out of the European Union without a deal, Prime Minister Theresa May said, striking an upbeat tone as the clock ticks down on Britain’s departure from the...
What Will Happen to EU Financial Services Firms After No-Deal Brexit?
Aug 27 2018 // Britain will unilaterally accept some European Union rules and give EU financial services firms continued access to the U.K. market in order to maintain stability if the country crashes out of the bloc without a deal, the...
EU Action Needed to Ensure Post-Brexit Continuity of Cross-Border Insurance: UK
Aug 23 2018 // Britons living in the European Union could lose access to their UK bank account services and businesses on the continent could be cut off from investment banks in London if there is a no-deal Brexit, the British government...
Insurance Data for Sale in China – Despite Strict Data Protection Laws
Aug 23 2018 // When William Zhang’s car insurance was about to expire in March, he didn’t need to look far for renewal options. In the two months before the policy was up Zhang received calls almost daily from insurers trying...
UK Insurers Push Ahead with Brexit Plans in Absence of Trade Deal: A.M. Best Report
Aug 21 2018 // In the absence of a Brexit trade deal between the United Kingdom and the European Union, insurers in the UK have accelerated their plans to establish new EU subsidiaries and ensure business continuity after Brexit,...
Extreme Weather Risk Grows as Warming Earth Disrupts High-Altitude Winds: Study
Aug 21 2018 // Scorching summer heatwaves and downpours are set to become more extreme in the northern hemisphere as global warming makes weather patterns linger longer in the same place, scientists said on Monday. They said there was a...
No-Deal Brexit: A Lose-Lose for UK and EU Financial Stability
Aug 20 2018 // With Brexit talks back from the summer holidays, it’s worth considering one way in which failure to reach a deal before the U.K.’s departure in March would also be bad for the European Union. Such an outcome...
Acrimonious, Disruptive No-Deal Brexit Is Growing Risk, Says Fitch
Aug 17 2018 // Ratings agency Fitch said on Thursday that it saw a growing risk of a bitter and economically damaging Brexit that could lead to a further downgrade of Britain’s sovereign credit rating. “We no longer believe...
Global Insured Catastrophe Losses Decline to $20 Billion in H1: Swiss Re
Aug 16 2018 // Global insured losses from natural catastrophes and man-made disasters during the first half of 2018 were US$20 billion, down from US$30 billion in H1 2017, according to Swiss Re Institute’s latest sigma study. On...
Randall & Quilter Signs Program Underwriting Partnerships with 3 European MGAs
Aug 16 2018 // Randall & Quilter Investment Holdings Ltd. announced that its wholly owned European subsidiary R&Q Insurance (Malta) Ltd. has signed three new program underwriting partnerships – or fronting arrangements – with...
Brexit Effect: Number of EU Nationals Working in UK Plunges During Q2
Aug 16 2018 // Further evidence that Brexit is deterring European Union workers emerged in figures published Tuesday [Aug. 14]. The number of EU nationals working in the U.K. in the three months through June plunged by 86,000 from a year...
Amazon Weighs Formation of UK Insurance Comparison Website: Reuters
Aug 16 2018 // Amazon.com Inc is sounding out some of Europe’s top insurance firms to see if they would contribute products to a UK price comparison website in what would be a major foray by the U.S. online retail giant into the...
Risk of ‘Chaotic’ No-Deal Brexit Increasing: UK Foreign Minister Hunt
Aug 15 2018 // The risk of a no-deal Brexit has been increasing and the European Union commission needs to change its attitude if a deal is to be reached, British foreign minister Jeremy Hunt said on Tuesday. “Everyone needs to...
Moody’s Forms Stockholm Subsidiary to Prepare for Brexit
Aug 14 2018 // Credit ratings agency Moody’s is converting its Stockholm branch into a subsidiary as the sector faces regulatory pressure to have enough staff in the European Union post Brexit. Moody’s, one of the “Big...
Various Scenarios for Brexit: Deal, No Deal, New Referendum?
Aug 13 2018 // The United Kingdom is due to leave the European Union on March 29, yet little is clear: There is, so far, no divorce deal, rivals to Prime Minister Theresa May are circling and some lawmakers are pushing for a rerun of the...
U.S. on Lookout for Possible Iranian Cyber Attacks After Reinstatement of Sanctions
Aug 13 2018 // The U.S. is bracing for cyberattacks Iran could launch in retaliation for the re-imposition of sanctions this week by President Donald Trump, cybersecurity and intelligence experts say. Concern over that cyber threat has...
2nd Chinese Manufacturer Makes Tainted, Carcinogenic Heart Drug: EU
Aug 10 2018 // The European Medicines Agency (EMA) said on Friday that a second Chinese contract manufacturer, Zhejiang Tianyu, had produced a common blood pressure and heart drug with an impurity that could cause cancer. The alarm over...
