Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
World Bank Head Warns No Region Immune to Europe Debt Crisis
Jul 19 2012 // World Bank President Jim Yong Kim on Wednesday warned that most regions of the world will be hurt by the debt crisis enveloping the euro zone and said it was vital to protect the strong economic gains of the past decade in...
Iran Offers to Insure Foreign Ships to Skirt EU Ban
Jul 18 2012 // Iran said it would insure any foreign ships that enter its waters, in an effort to skirt a European Union ban on insuring ships carrying Iranian crude that has hampered the country’s oil exports. “The Islamic...
Finaccord Survey Finds Growth in EU Commercial Non-life Brokerage Receipts
Jul 17 2012 // Newly released data from Finaccord, a London-based market research consultancy specializing in financial services, reveals that the market for commercial non-life insurance broking reached a value of €9.89 billion...
IMF Cuts Global Growth Forecast as Emerging Economies Slow
Jul 17 2012 // The International Monetary Fund has cut its forecast for global economic growth and warned that the outlook could dim further if policymakers in the euro zone do not act with enough force and speed to quell their...
Best Affirms SCHWARZMEER UND OSTSEE (SOVAG) Ratings; Outlook Stable
Jul 16 2012 // A.M. Best Europe Rating Services Limited has affirmed the financial strength rating (FSR) of ‘B++’ (Good) and the issuer credit rating (ICR) of “bbb” of SCHWARZMEER UND OSTSEE...
EU under Pressure to Delay Solvency II Insurer Capital Rules
Jul 16 2012 // The European Union may be forced to put back the January 2014 start date for its Solvency II capital regime for insurers after talks to agree a final draft of the strict new rules collapsed, Europe’s top insurance...
South Korea Considering Resuming Iran Oil Imports: Gov’t. Sources
Jul 13 2012 // South Korea will soon decide on whether to resume Iranian crude imports after Tehran offered to ship and insure the oil to get around the impact of EU sanctions, two Korean government sources said on Friday. The EU oil...
Ironshore Europe Makes 3 Executive Appointments for London Office
Jul 12 2012 // Ironshore Europe Limited announced three executive appointments in its London office, effective immediately, “to align management leadership with business development opportunities within European markets,”...
Iran Oil Shipments Skirting Tanker Insurance Ban
Jul 12 2012 // Iran is shipping oil to China, its top buyer, despite a row over freight terms, and Japan has taken steps to resume imports in August as Tehran finds ways to get around Western sanctions on ship insurance for its...
Japan Insurers Expand Cover to Boost Iran Oil Shipping Capacity
Jul 11 2012 // Japanese insurers are expanding their maritime coverage to allow more domestic tankers to transport Iranian crude, as Tokyo looks to keep oil flowing despite tough Western sanctions, industry sources said on...
US Lawmaker Asks Tuvalu to Stop Reflagging Iran Oil Tankers
Jul 10 2012 // A prominent U.S. lawmaker has asked the small South Pacific island nation of Tuvalu to stop reflagging Iranian oil tankers and warned its government of the risks of running afoul of U.S. sanctions. The European Union...
Euro Zone May Be Fragmenting Faster than EU Can Act
Jul 10 2012 // Signs are growing that Europe’s economic and monetary union may be fragmenting faster than policymakers can repair it. Euro zone leaders agreed in principle on June 29 to establish a joint banking supervisor for the...
Ratings Recap: Kuwait Re, Ageas, Al Fajer Re, Generali (Notes)
Jul 6 2012 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating of “a-” of Kuwait Reinsurance Company K.S.C. (Closed), but...
UK Insurer Aviva Culls Units in Turnaround Drive
Jul 6 2012 // Aviva, the UK’s No.2 insurer, plans to sell or close more than a quarter of its businesses in a shake-up aimed at regaining the support of investors irked by the group’s flagging share price. The company, whose...
No Let Up in Gloom for Europe’s Biggest Economies
Jul 5 2012 // All of Europe’s biggest economies are in recession or heading there and there is little sign things will improve soon, surveys showed on Wednesday, backing a growing view that the region’s major central banks...
ECB President Draghi Says EU Crisis Summit Delivered ‘Tangible Results’
Jun 29 2012 // European Central Bank President Mario Draghi said on Friday he was pleased with steps taken at the summit of EU leaders, including a decision to allow direct recapitalization of banks, but added that future aid must be...
US Grants Iran Sanctions Exceptions to China, Singapore
Jun 29 2012 // The United States gave China a six-month reprieve from Iran financial sanctions on Thursday, avoiding a diplomatic spat with a country whose support it needs to try to quell violence in Syria and rein in Tehran’s...
EU Agency ENISA Calls for ‘Kick-start’ in Cyber Insurance Market
Jun 29 2012 // Europe’s citizens and businesses could benefit from better protection for their computer systems and data if the cyber insurance market can be kick-started, according to a recently released report from the European...
Ratings Roundup: MAPFRE PRAICO, Tunis Re
Jun 28 2012 // A.M. Best Co. has commented that the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of MAPFRE PRAICO Insurance Company, its wholly owned subsidiary, MAPFRE...
Germans Say “Nein! No! Non!” Ahead of Euro Summit
Jun 28 2012 // EU leaders go into a Brussels meeting today, Thursday June 28, more openly divided than at any time since the euro crisis began, with Germany’s Chancellor Angela Merkel showing no sign of relenting in her refusal to...
