Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Growing List of Re/Insurers Make Decisions on Post-Brexit EU Headquarters
Oct 3 2017 // Everest Re Group Ltd. has said its Dublin-based unit has received approval from the Central Bank of Ireland to become a non-life insurer, joining a growing list of insurers setting up regulated EU operations in case...
Everest Re Gets Nod to Launch Irish Insurer for EU Business; Aon’s Cross Is CEO
Oct 3 2017 // Everest Re Group Ltd. announced today that its Dublin-based subsidiary has been granted authorization in principle by the Central Bank of Ireland to operate as an authorized non-life insurer in Ireland. This entity, to be...
UK Regulators Eye Post-Brexit ‘Interim’ Status for EU-Based Financial Firms
Oct 2 2017 // Britain’s regulators could grant interim permission for European Union investment and trading firms to continue operating in the UK after the country leaves the bloc in 2019. Andrew Bailey, chief executive of the...
Climate Researchers Warn of Hotter Summers, More Wildfires, in Southern Europe
Sep 29 2017 // Climate researchers are warning that Europeans should prepare for the return of “Lucifer,” saying the hellishly named heat wave that hit parts of the continent this summer could become a regular occurrence due...
Lloyd’s Expects $4.5 Billion Hit from Hurricanes Harvey, Irma
Sep 28 2017 // Lloyd’s of London expects net losses of $4.5 billion from hurricanes Harvey and Irma, which analysts said would eat into the insurer’s capital and hit its profitability. Although losses from natural...
Top Challenges for London’s Re/Insurers Are Soft Market, Brexit, Regulations: IUA
Sep 28 2017 // The top three challenges facing London market companies are the soft market, Brexit and regulatory compliance, according to a survey of International Underwriting Association (IUA) members. In an online questionnaire,...
Update: Lloyd’s of London Reports 16% Drop in H1 2017 Profit to $1.6B
Sep 28 2017 // Lloyd’s of London expects net losses of $4.5 billion from hurricanes Harvey and Irma, which analysts said would eat into the insurer’s capital and hit its profitability. Although losses from natural...
EU Regulator Warns UK Insurers to Avoid ‘Fronting’ in Post-Brexit EU HQs
Sep 28 2017 // London-based insurers applying for licenses to operate in the European Union after Brexit will be scrutinized for any attempts to game the system, the bloc’s insurance watchdog said. Insurance specialists say some...
S&P Assigns Odyssey Re Europe with ‘A-‘ Rating, Stable Outlook
Sep 25 2017 // S&P Global Ratings has assigned its ‘A-‘ long-term financial strength rating to Odyssey Re Europe S.A. (ORESA), with a stable outlook. The rating on ORESA is based on an explicit guarantee provided by...
Bank of England Seeks Brexit Deal to Cover Derivative, Insurance Contracts
Sep 25 2017 // The Bank of England said an agreement is needed as part of the Brexit process to protect the “long-term validity” of 20 trillion pounds ($27.1 trillion) of existing derivative contracts. The BOE’s...
U.S. and EU Sign Covered Agreement on Insurance Regulation
Sep 22 2017 // The United States and European Union have scheduled a ceremony for today for the signing of a bilateral agreement on prudential insurance and reinsurance measures. Both sides announced in July their intention to sign the...
AXA Continues Search for Fund Management Partner
Sep 21 2017 // AXA has talked to BNP Paribas and Natixis in its search for a partner for its fund management arm, aiming to build a business with at least 1 trillion euros ($1.2 trillion) of assets under management, sources familiar with...
XL Group Picks Dublin for Post-Brexit EU Headquarters
Sep 20 2017 // XL Group is the latest property/casualty insurer to make plans to move its European insurance company headquarters from the United Kingdom in response to its vote to leave the European Union. The insurer and reinsurer...
EU Seeks More Control Over Insurers and Financial Sector
Sep 20 2017 // The European Commission proposed on Wednesday transferring some powers to oversee the financial sector from national capitals in a move to extend the EU’s grip on the industry as the bloc prepares for the departure...
Insurers Hope Insurtech Will ‘Nudge’ Customers to Less Risky Behaviors
Sep 19 2017 // Insurers are counting on real-time technology to help them cut back payouts, from a system warning ships of nearby pirates to an app offering to buy sleepy drivers a coffee on the motorway. The lure of products promising...
Audi Goes Full Speed on Automated Driving, While Competitors Wary of Liability, Regulation
Sep 18 2017 // German carmaker Audi is taking a lead in bringing more automated driving to roads, but rivals seem in no rush to follow while legal and regulatory uncertainties still cloud the technology. At the Frankfurt car show, Audi...
Britain to Lose Out on 10,000 Finance Jobs in First Wave of Brexit Reaction: Reuters Survey
Sep 18 2017 // Around 10,000 finance jobs will be shifted out of Britain or created overseas in the next few years if the UK is denied access to Europe’s single market, according to a Reuters survey of firms employing the bulk of...
How New EU Rules Make It Tougher for Insurers, Hedge Funds to Manage Currency Risk
Sep 15 2017 // New European Union regulations on foreign exchange trading will make it harder and more expensive to manage currency risk, traders said, especially for large financial counterparties such as hedge funds and insurance...
Axa Eyes Options for European Asset Management Unit
Sep 15 2017 // French insurer Axa SA is reviewing options for its European asset management unit amid consolidation in the sector, according to people familiar with the matter. Axa is considering a merger or joint venture for the...
Chubb Appoints Parchment to Head European Personal Risk Services
Sep 14 2017 // Chubb announced that Tara Parchment, vice president, Personal Risk Services, UK & Ireland, has been appointed as head of its European Personal Risk Services division. In this role, Parchment will have responsibility...
