Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Allianz: Investors Should Forgive 25-30% of Greek Debt
Jul 18 2011 // German insurer Allianz , owner of the world’s largest bond investor Pimco, favors private investors writing off 25-30 percent of Greece’s debt, company managers were on Monday quoted as saying. Three weeks of...
Europe’s PERILS Expands Coverage to Norway, Sweden
Jul 14 2011 // PERILS, the independent Zurich-based company that provides industry-wide catastrophe insurance data, announced that it has extended its market coverage to include Norway and Sweden. The two Nordic markets are in addition...
Head of S&P Germany Rejects Euro Zone Criticism
Jul 14 2011 // Standard & Poor’s hit back at criticism over the credit rating agencies’ role in the euro zone debt crisis on Thursday, with its German operations head saying rating agencies would lose credibility if they...
Europe at Impasse on Greece, IMF Backs Investor Role
Jul 14 2011 // The International Monetary Fund joined Germany on Wednesday in pushing for private sector investors [presumably including the EU’s insurers] to help cut Greece’s debt mountain as the euro zone sought to break...
Europe Considers Greek Default Possible; Leaders to Meet
Jul 12 2011 // European Union leaders are poised to hold an emergency summit after finance ministers acknowledged for the first time that some form of Greek default may be needed to cut Athens’ debts and stop contagion to Italy and...
Cigelnik Joins Insurer Trade Group PCI
Jul 12 2011 // The trade group Property Casualty Insurers Association of America (PCI) has hired Randi Cigelnik as its new senior vice president, corporate secretary and general counsel effective Aug. 1. Most recently, Cigelnik served as...
EU Court Says eBay May Be Liable on Trademark Abuse
Jul 12 2011 // Internet auction marketplace eBay may have to take more responsibility over what is sold via its website or it could be sued for trademark abuse, Europe’s top court ruled on Tuesday. The European Court of Justice...
EU Slams Rating Agencies after Portugal Downgrade
Jul 7 2011 // European politicians accused credit rating agencies on Wednesday of anti-European bias after Moody’s downgrade of Portugal’s debt to “junk” cast new doubt on EU efforts to rescue distressed euro...
Portugal Adds to Europe Woes as Banks Meet on Greece
Jul 6 2011 // A credit rating downgrade to Portugal [by Moody’s Investors Services] added to fears Europe’s banks face heavy euro zone losses if a private sector plan to help Greece comes unstuck, piling pressure on...
New Swiss Re sigma study Reveals Global Premium, Capital Growth
Jul 6 2011 // A new study in Swiss Re’s sigma series concluded that the global insurance industry has returned to a pattern of growth. The study – World insurance in 2010 – reveals growth in global premium volume and...
Stress Test Results Confirm Strength of European Insurance Industry
Jul 5 2011 // The second stress test of European insurers, conducted by the European Insurance and Occupational Pensions Authority (EIOPA), has confirmed “the robustness of the European insurance market and its ability to...
Swiss Re Warns Europe of Increasing ‘Soil Subsidence’ from Climate Change
Jul 5 2011 // According to a new study from Swiss Re, “Europe is witnessing a dramatic increase in property damage as a result of soil subsidence.” A new loss model developed by Swiss Re and the Swiss Federal Institute of...
China to Tap Foreign Employees for Social Insurance Funds
Jul 5 2011 // China has enacted a social insurance law that requires foreigners to pay into medical, pension and unemployment funds for the first time, but unclear implementation guidelines are fueling uncertainty among expatriates and...
Survey Shows Europe’s Top 10 P&C Insurers Grew Premiums by 5.2% in 2010
Jul 1 2011 // Spain’s MAPFRE has published its 7th annual survey of Europe’s non-life insurers, ranking them by gross premiums written. The survey found that “all the companies achieved an increase in premium revenues...
Willis Re Sees Reinsurers Reacting as $48 Billion Losses Take Their Toll
Jun 30 2011 // The Willis Re’s 1st View Renewals Report for June/July 2011, entitled – “Mixed Messages“- estimates that “a string of natural catastrophes in the first quarter of 2011 has cost reinsurers in...
S&P: Resilience of French Insurance Industry Will Be Tested Further
Jun 29 2011 // Standard & Poor’s Ratings Services has published a report – “French Insurance Industry Holds Up Under Pressure, But Challenges Still Lie Ahead” – on the challenges the French insurance...
S&P Reports European Insurers Still ‘Nervous’ Despite Gains
Jun 28 2011 // Standard & Poor’s Ratings Services has issued a report which “discusses why it thinks the European insurance industry seems nervous as it enters the second half of 2011.” The report –...
FERMA Elects New Board Members
Jun 27 2011 // The Federation of European Risk Management Associations (FERMA) has elected three new board members who will serve from now until June 2014. They are: Helle Friberg of the Danish association DARIM Igor Mikhaylov from the...
Banks, Insurers Move Closer to Deal on Greek Bailout
Jun 24 2011 // Banks and policymakers moved closer to a deal on Friday to help Athens secure funds ahead of a parliamentary vote on austerity next week that Greek Prime Minister George Papandreou must win to avert default. Despite a...
Best Affirms Ironshore and Subs Ratings
Jun 23 2011 // A.M. Best Co. has affirmed the issuer credit rating (ICR) of “bbb-” of Cayman Islands-based Ironshore Inc., as well as the financial strength rating of ‘A-‘ (Excellent) and the ICRs of...
