Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
London’s Future as Financial Center Uncertain Due to Brexit: UK Regulator
Mar 15 2018 // London’s future as a global financial center is uncertain because of Brexit and Britain faces a tough task to secure European Union market access for its banks and insurers, a top UK regulator said on Wednesday as he...
Argo Group Acquires Italian Specialty Insurer Ariscom
Mar 14 2018 // Argo Group International Holdings is the proud new owner of Italian specialty insurer Ariscom, giving it an efficient way to expand through Europe. Neither side disclosed financial details. Argo Group CEO Mark E. Watson...
Hard Brexit Would Cost UK, EU Firms $80B with UK Financial Services Worst Hit: Report
Mar 12 2018 // Companies in Britain and the European Union face an extra 58 billion pounds ($80 billion) in annual costs if there is a no-deal Brexit, with Britain’s vast financial sector set to be the worst-hit industry, according...
UK/EU Financial Services Industry Could Deal with ‘Hard Brexit,’ Says Official
Mar 9 2018 // Financial businesses have realistic expectations about serving European Union customers after Britain leaves the bloc next year and could deal with a so-called hard Brexit, a top EU official said on Thursday. The EU was...
Here Are Some Post-Brexit Scenarios for UK Financial Services
Mar 8 2018 // A stand-off between Britain and the European Union over the future of London’s vast financial services industry is shaping up as one of the key Brexit battlegrounds of this year. The EU said on Wednesday that there...
Romanian Firm UiPath Ascends as Leader in Automating Business Tasks Such as Claims
Mar 7 2018 // Romanian firm emerges as leader in automating business tasks Romanian software firm UiPath has raised $153 million in new venture financing, marking both the company’s rapid ascent as a leader in automating routine...
PERILS Revises Loss Estimate for Europe’s Windstorm Zeus to €272M ($335.1M)
Mar 6 2018 // The final estimate of insured property market losses for extratropical cyclone Zeus, which mainly hit France last year on March 6-7, have been revised to €272 million (US$335.1 million), according to PERILS, the...
Sompo International to Launch Specialty Operation in Spain; Executive Team Named
Mar 6 2018 // Sompo International announced it will launch a specialty insurance underwriting operation in Barcelona, Spain. Sompo currently has a London-based operation but must open EU-based headquarters in order to conduct business...
UK’s Prime Minister Defends Decision to Reject EU ‘Passporting’ for Insurers, Banks
Mar 5 2018 // Prime Minister Theresa May defended her decision to rule out so-called “passporting” rights for banks after Brexit, saying Britain could not become a “rule taker” when it came to financial...
20-Plus Insurers, Banks & Fund Firms Select Luxembourg as Post-Brexit HQs
Mar 1 2018 // More than 20 major international institutions chose to set up all or part of their activities in Luxembourg last year, the country’s financial development agency said on Thursday, linking the decisions to...
Bees Endangered by Neonicotinoid Pesticides: EU Food Safety Regulator
Feb 28 2018 // Wild bees and honeybees are put at risk by three pesticides from a group known as neonicotinoids, Europe’s food safety watchdog said on Wednesday, confirming previous concerns that prompted an EU-wide ban on use of...
Europe’s Storm Friederike (aka David) to Cost Insurers €1.5B (US$1.8B): PERILS
Feb 28 2018 // The initial insured price tag for Extratropical Cyclone Friederike, also known as David, is an estimated €1.5 billion (US$1.8 billion), according to PERILS, the independent Zurich-based organization that provides...
Update: UK Prime Minister Rejects EU Draft Brexit Deal as Unacceptable
Feb 28 2018 // The European Union presented the U.K. with a draft divorce deal that Theresa May said no British prime minister could ever accept. The pound fell. Brexit talks once again look to be stuck around the intractable issue of...
Avoiding Post-Brexit Chaos in Insurance Market Is Top Concern of Bank of England
Feb 27 2018 // Avoiding chaos in the insurance market due to Britain’s European Union exit is a top Bank of England priority and making sure cross-border contracts continue to pay out after Brexit is a major concern, its deputy...
Bank of England Will Not ‘Go Soft’ on Enforcing EU Solvency II Capital Rules
Feb 27 2018 // The Bank of England will not “go soft” on enforcing European Union capital rules for insurers, but will look at ways to make it easier for new entrants to boost competition in the industry, its deputy governor...
Europe Regulator Proposes Hacking, Geo-Awareness Protections for Drones
Feb 26 2018 // Europe’s aviation safety authority has proposed anti-hacking measures and geo-awareness technology for small drones to avoid collisions with aircraft or people, taking an important step toward Europe-wide...
Global Directors Beware: Are You Ready for EU’s Data Protection Regulation?
Feb 26 2018 // On May 25, 2018, the European Union (EU) General Data Protection Regulation (GDPR) will go into effect in the 28 EU member states. Companies, the world over, are now rushing to meet the deadline for compliance but how many...
UK Marine Insurer Steamship Mutual Chooses Netherlands for Post-Brexit HQ
Feb 22 2018 // British ship insurer Steamship Mutual plans to set up a new Dutch subsidiary to ensure continued access to trade in the European Union in case Britain loses single market access. “We are about to apply for a license...
Europe’s Windstorm Burglind (aka Eleanor) Estimated to Cost $802.5M: PERILS
Feb 16 2018 // Initial insured losses for Extratropical Cyclone Burglind (also known as Eleanor) are estimated at €643 million (US$802.5 million), according to PERILS, the Zurich-based organization that provides industry-wide...
UK Supports Post-Brexit Mutual Recognition System for London’s Financial Services
Feb 16 2018 // Britain’s government is ready to push for the kind of Brexit plan for financial services that the City of London has long favored, but which has already run into opposition in Brussels, two government officials said...
