Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Munich Re Securitizes $80 Million for Europe Windstorm, U.S. Hurricanes
May 21 2010 // Munich Re has obtained cover for US hurricane and European windstorm risks amounting to US$ 80 million from special-purpose vehicle EOS Wind Ltd, which placed a catastrophe bond in the market. “MEAG, Munich...
Willis’ Plumeri Urges UK Government to Spur Insurance Industry Growth
May 21 2010 // Joe Plumeri, Chairman and CEO of Willis Group Holdings, “told an audience of insurance executives that the new UK Government must address the struggling economy to spur growth in the British insurance industry, while...
Commercial Market to Remain Stable, Challenging for Risk Managers: Marsh
May 20 2010 // Despite the global economic crisis, the commercial insurance market is poised to remain stable through 2010, but new challenges are emerging for risk managers, according to a report issued by insurance broker Marsh. The...
CCIR Commends EU for Opposing US Reinsurance Proposals
May 20 2010 // The Coalition for Competitive Insurance Rates (CCIR) has issued a bulletin commending the European Union for “speaking out against a controversial tax proposal on affiliated reinsurance included in President...
Volcker Says Europe Committed to Common Currency
May 19 2010 // Europe’s $1 trillion economic rescue signals a recognition of the threat to the euro currency and a commitment to defending it, former Federal Reserve Chairman Paul Volcker said Tuesday. Volcker, a special adviser to...
Airline Industry Group Blasts Europe’s Handling of Volcanic Ash
May 19 2010 // European aviation authorities urgently need to revise their airspace rules to minimize disruption from ash emitted by an Icelandic volcano, the airline industry body IATA said on Tuesday. The International Air Transport...
ING’s Good Results Reduce Pressure to Sell Insurance Arm
May 18 2010 // A strong start to the year has taken enough pressure off Dutch bancassurer ING Group to allow it to substantially delay or even potentially scrap the expected 2011 flotation of its insurance business. The talk of ING...
Bermuda Signs Tax Accord with Italy
May 18 2010 // Bermuda’s Minister of Finance, the Hon. Paula A. Cox, announced that Bermuda has concluded negotiations for a bilateral agreement with the Italian Republic that will, “upon signing later this year, provide for...
ECB’s Plan to Buy Bonds Risks Making it Europe’s ‘Bad Bank’
May 18 2010 // The European Central Bank’s decision to buy tarnished debt in the euro zone risks turning it into Europe’s de facto “bad bank” and putting cash-strapped governments and taxpayers on the hook for yet...
Zurich Announces Restructured Senior Management Appointments
May 17 2010 // Zurich Financial Services Group has announced a “streamlined” management structure and related senior management appointments. “At the core of the new structure is a reaffirmation of Zurich’s...
Volcanic Ash Grounds European Flights
May 17 2010 // Volcanic ash from Iceland caused widespread disruption at airports in Britain and other parts of northern Europe on Monday, grounding 1,000 flights and delaying hundreds of thousands of passengers, aviation officials...
S&P Affirms Alterra’s Ratings Following Max Cap, Harbor Point Merger
May 17 2010 // Standard & Poor’s Ratings Services said today that it affirmed its ‘BBB’ counterparty credit rating on Bermuda-based insurance and reinsurance holding company Alterra Capital Holdings Ltd., which was...
Volcker Worries about Euro’s Future
May 14 2010 // Europe’s debt troubles could undermine its currency, White House Economic Adviser Paul Volcker said Thursday. Volcker, a former Federal Reserve chairman and a widely respected economist, told students at the London...
Best Upgrades Alterra Capital and Subs Ratings to ‘A’
May 13 2010 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit ratings (ICR) to “a” from “a-” of the operating...
Life products, Asset Mgmt. Buoy Allianz, Generali, Aegon, Ageas in Q1
May 13 2010 // European insurers were buoyed by strong sales of life insurance and asset management products on the back of a reviving economy in the first quarter, offsetting big disaster damage claims. Germany’s Allianz,...
Tardy Greek Debt Bailout Spreads Financial Crisis beyond Europe
May 12 2010 // Last weekend the leaders of the European Union finally realized that their dithering over a financial aid package for Greece had imperiled the entire continent’s financial structure. They acted to stem the tide by...
Willis Research Warns of Costly Consequences of Volcanic Eruptions
May 12 2010 // The world’s attention has been focused on the plumes of ash that continue to rise into the sky from the Eyjafjallajökull volcano in Iceland. The microscopic grit in the ash cloud poses an ongoing threat to...
Europe’s Travel Firms Count Costs of Volcanic Ash Disruptions
May 11 2010 // Europe’s travel industry is counting the cost of air traffic disruption caused by a volcanic ash cloud which forced thousands of flights to be cancelled and is braced for more stoppages this month. British travel...
‘Shock and Awe’ Halts Euro Market Slide – for Now
May 10 2010 // A $1 trillion global emergency rescue package to stabilize the euro reversed the slide in world financial markets on Monday but left longer-term questions about whether Europe’s weakest economies can manage their...
ABI Advises Travelers After Latest Volcano Ash Cloud Disrupts Flights
May 10 2010 // Heightened eruptions from Iceland’s Eyjafjallajokull volcano caused periodic closures of a number of European airports, as flights were cancelled, delayed or rerouted. Transatlantic air traffic between Europe and the...
