Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Marsh Finds Europe’s Financials Buying Less Insurance to Save Costs
May 6 2010 // According to a report from Marsh’s London office, “European financial institutions are buying less insurance or decreasing their sums insured in an effort to reduce costs, despite an increase in claims...
UK’s Amlin to Establish European Reinsurance Company in Switzerland
May 5 2010 // London-based Amlin plc, one of Lloyd’s and the UK’s best known insurers, has announced plans to establish a reinsurance company in Switzerland to serve European clients. Amlin said it believes that the company...
Somali Pirates Hijack China-bound Oil Tanker off of Yemen
May 5 2010 // Somali pirates on Wednesday hijacked the China-bound oil tanker MV Moscow University 350 miles (565 km) off the coast of Yemen with 23 Russian crew and crude oil worth $52 million on board. “The oil is Chinese. It...
Volcanic Ash Cloud Again Grounds Flights in Scotland and Ireland
May 5 2010 // A cloud of abrasive volcanic ash drifting south from Iceland disrupted flights to and from Ireland and Scotland anew on Wednesday. Two airports serving Glasgow, Scotland’s largest city, were closed until at least...
Volcanic Ash Closes Irish, UK Airports; Summer Chaos Feared
May 4 2010 // Airports in Ireland and parts of Britain were closed again for some hours on Tuesday because of the cloud of volcanic ash drifting south from Iceland that wreaked havoc on European air travel last month. Flights in much of...
EU, IMF Agree on $147 Billion Greece Bailout; PM Warns of ‘Sacrifices’
May 3 2010 // European finance ministers triggered a record €110 billion ($147 billion) bailout for debt-stricken Greece on Sunday, May 2, when Athens committed itself to years of painful austerity. After weeks of tough talk and...
EU Climate Chief Says Financial Crisis Threatens Vital Innovation Risk
Apr 30 2010 // Innovation vital for Europe’s future is at risk, because the global financial crisis has turned once-challenging emission reduction goals into easily achievable targets, the European Union’s top climate...
EU Says Volcanic Ash Cost $2 to $3.3 Billion; Plans Airline Aid
Apr 28 2010 // Last week’s volcanic ash cloud cost European Union airlines €1.5 to €2.5 billion ($1.98 to $3.3 billion), the European Union executive said as it proposed a series of actions to help the cash-strapped...
FERMA Comments on EU’s New Block Exemption Regulations
Apr 26 2010 // The Federation of European Risk Management Associations has welcomed the adoption of the new European Union insurance block exemption regulation (BER) by the European Commission with reservations. “The entry into...
Why Economic, Market Risks of Ash Cloud Are Hard to Measure
Apr 21 2010 // Policymakers and markets trying to react to the volcanic gas cloud paralyzing air travel in Europe face a host of variables, unknowns and hard-to-measure risks that make modelling almost impossible. No one can accurately...
Flights Pick Up in Europe As Ash Risk Is Lowered
Apr 21 2010 // European airports started to return to life on Tuesday after five days cut off from the rest of the world by a volcanic ash cloud, but some countries were more cautious after reports a new cloud might be on its way. The...
Flights Resume in Parts of Europe
Apr 20 2010 // Flights from large parts of Europe are set to resume on Tuesday under a deal agreed by the European Union to free up airspace closed by a cloud of ash hurled into the sky by an Icelandic volcano. However, with the cloud...
European Trade Chief Warns On Volcanic Ash Economic Impact
Apr 19 2010 // The European Union’s economy will face serious consequences if a volcanic ash cloud that has disrupted flights across the continent continues for a long time, its trade chief said on Monday. “If this were to...
If Ash Cloud Lingers, Economic Impact Could Rise Sharply
Apr 19 2010 // The economic impact of the volcanic cloud halting flights across Europe will increase sharply the longer disruption continues, forcing holiday cancellations, delaying deliveries and reducing jet fuel demand. African...
European Insurers Expect Little Hit from Volcano Fallout
Apr 16 2010 // Airlines which stand to lose millions of euros from a cloud of Icelandic volcanic ash disrupting flights and closing airports across northern Europe are expected to have little recourse to recoup losses from insurance...
Italy’s Mt. Vesuvius Ranked as Europe’s Most Dangerous Volcano
Apr 15 2010 // A major eruption of Italy’s Mount Vesuvius could result in 8,000 fatalities, 13,000 serious injuries and total economic losses of more than $24 billion, says a new study. According to the Willis Research Network...
Report: Q1 Catastrophe Bond Market Sees Sustained Improvement
Apr 14 2010 // Catastrophe bond issuance conditions saw sustained improvement in the first quarter of 2010, reflecting the increase in prominence of the insurance linked securities (ILS) asset class. Despite the continued improvement in...
Legal Uncertainty, Prisoner Releases Making Piracy Problem Worse
Apr 9 2010 // Piracy off the coast of Somalia is getting worse, partly due to the legal limbo that has led some countries to release captured suspects, Russia’s U.N. envoy said this week. Over the past year and a half, the U.N....
Risk of Aging Europe Falls on Small Group of Pension Providers
Apr 9 2010 // The aging of Europe may open opportunities to sell savings products, but it also spells a real threat to parts of the financial services industry. Pensions experts call it the “toxic tail.” Like the subprime...
Business Moves
Apr 5 2010 // ISU, Webb, Ken Hargis, Cox & Kimball, Darlage ISU International added four new member agencies in the Midwest: ISU Insurance Services The Webb Agency of St. Charles, Mo.; ISU Insurance Services Ken Hargis Agency of...
