Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Zurich Aims to Cut Costs by $1B, Seeking to Reverse Earnings Decline
May 21 2015 // Zurich Insurance Group AG, Switzerland’s biggest insurer, will cut costs by more than planned as it seeks to reverse a drop in earnings. Chief Executive Officer Martin Senn said he will make additional annual savings...
Vienna Insurance Posts Lowest Q1 Profit Since ’09, Hit by Low Interest Rates
May 20 2015 // The financial repercussions of record-low interest rates in Europe were highlighted Wednesday as Vienna Insurance Group AG, eastern Europe’s biggest insurer, posted its worst first-quarter profit since the financial...
Solvency II’s Impact and Its Future Analyzed at EIF Conference
May 20 2015 // Solvency II – all 2000 plus pages of it – has been completed and is slated to go into force as of the first of January 2016. As befits a major reorganization of a major EU industry, it took a long time – eight years...
ACE Launches New Corporate Travel Proposition in Sweden
May 20 2015 // ACE Group has launched in Sweden its new corporate travel proposition ACE Business Class, as it continues to enhance its multinational offering for companies in the Nordic region. ACE Business Class provides comprehensive...
DIMA CEO on Ireland’s Recovery and Facing Neglected Challenges
May 19 2015 // Sarah Goddard, the CEO of the Dublin Insurance Marketing Association (DIMA), organizers of the European Insurance Forum, took time to discuss some of the issues the re/insurance industry faces, now that it has more or less...
European Insurance Forum Examines a Changing World
May 18 2015 // With the long journey towards a unified regulatory system for insurance in the European Union – Solvency II – finally appearing to be near its end, the re/insurance industry has realized that even greater...
RSA Appoints Thomas as Broker Relationship Director for UK, Western Europe
May 14 2015 // RSA, one of the largest UK commercial insurers, has appointed Owen Thomas as relationship director, effective May 13. In this newly created role, Thomas will have responsibility for leading the top broker relationships...
Update: Generali Q1 Operating Profit Rises 6% to $1.5B on Investment Income
May 14 2015 // Assicurazioni Generali SpA, Italy’s biggest insurer, reported the highest quarterly operating profit in seven years, spurred by a surge in investment income. Profit in the three months to March climbed 6 percent to...
RSA Appoints McKenzie as COO for UK, Western Europe
May 13 2015 // London-based RSA has appointed Darren McKenzie to the newly created role of chief operating officer for the UK & Western Europe. Joining on July 1, McKenzie will report directly to Steve Lewis, chief executive for the...
Hiscox Reports 12% Hike in Gross Written Premiums on Good Claims Experience
May 12 2015 // Bermuda-based Hiscox Ltd., the international specialist insurer, reported gross written premiums increased by 12 percent to £561.7 million ($869.6 million), compared to £501.6 million ($776.6 million) reported during the...
Outflows From Pimco Cut Allianz Asset Management’s Q1 Profit by 14%
May 12 2015 // Allianz SE, Europe’s biggest insurer, said first-quarter profit from asset management slid on outflows from Pacific Investment Management Co. Operating profit at the business, which consists of Newport Beach,...
European Insurers’ Dividend Growth Unlikely With Rock-Bottom Interest Rates
May 11 2015 // Expectations of rising dividends and share buybacks from Europe’s insurance companies are fading as ultra low interest rates make it harder for them to meet new capital regulations. Rock-bottom interest rates reduce...
UK Elects the Conservatives, but Question of EU Status Remains
May 8 2015 // “Heavy Fog In Channel. Continent Cut Off.” That often quoted newspaper headline, which dates from at least the 1930’s, captures the ambivalent feelings the British have about their European neighbors....
Zurich Profit Falls 4% on Decline at General Insurance Unit
May 7 2015 // Zurich Insurance Group AG, Switzerland’s biggest insurer, said first-quarter profit fell 4 percent on lower earnings from general insurance and higher tax payments. Net income declined to $1.22 billion from $1.28...
Allianz Profit Rises 11% to 1.82 Billion Euros Despite Outflows From PIMCO
May 6 2015 // Allianz SE, Europe’s biggest insurer, said first-quarter profit climbed 11 percent, even as investors withdrew funds from its asset manager Pacific Investment Management Co. The shares surged the most in six...
Shareholders Seek Clues to Allianz’s Plan for Pimco from New CEO
May 6 2015 // Allianz shareholders will see new CEO Oliver Baete installed on Wednesday and will be eager for any clues about his strategy for Europe’s largest insurer – and how he plans to improve the prospects of its asset...
Insurers Warn Against Encroachment on State Regulation
May 5 2015 // Insurance companies are calling for Congress to ensure state-based insurance regulation remains protected from federal or international “regulatory encroachment.” “Congress must now increase its oversight...
In Land of Negative Yields, Even Conservative Insurers Eye Junk Bond Investments
May 5 2015 // The new fixed-income haven is, of all things, the market for junk bonds. With government securities in Germany to Japan and Ireland yielding less than nothing, money is pouring into exchange- traded funds that buy...
QBE Appoints Huber as Head of European Liability
May 4 2015 // London-based QBE European Operations, which is part of QBE Insurance Group, has appointed Thomas Huber to lead the expansion of its European liability portfolio. Huber has joined as head of European liability with...
Europe Calls for Tougher Limits on Super Greenhouse Gases (HFCs)
May 1 2015 // The European Commission on Thursday called for a tougher U.N. Montreal Protocol to protect the ozone layer by curbing super greenhouse gases known as HFCs, that have a global warming potential thousands of times greater...
