Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
OECD Says Changes Needed in US, EU Market Supervision
Nov 25 2008 // Overhauls of U.S. market supervision and European policy coordination are needed to plug regulatory gaps highlighted by the market crisis, the OECD said in its latest economic outlook. Initially billed as a first step to...
AEGON’s Bid for TARP Cash Doomed
Nov 21 2008 // A Dutch insurer’s experimental bid to tap the U.S. government for bailout cash looks doomed to failure, closing off an avenue for other insurers. Aegon NV said this week it was mulling buying a small U.S. bank to...
European Commission Approves State Aid for Fortis
Nov 20 2008 // The European Commission approved on Thursday Belgian State guarantees intended to facilitate the financing of Fortis Bank. “The Commission found the aid to be in line with its guidance communication on state aid to...
Lloyd’s and Rand Issue New Report on ‘Transatlantic Litigation Trends’
Nov 19 2008 // Lloyd’s and RAND have issued a new report on transatlantic litigation trends. The spread of what Lloyd’s Chairman Lord Peter Levene has called the “compensation culture,” is becoming an increasing...
Miller Names Piper Development Director – UK, Europe
Nov 17 2008 // Miller Insurance Services Limited announced that Adam Piper has joined the company as a Development Director – Corporate Risks UK & Europe. He has more than 22 years of industry and business development...
Best, Fitch Put Exporters’ Ratings under Review/Negative
Nov 17 2008 // Both A.M. Best and Fitch Ratings have reacted negatively to the news that the Exporters Group has entered into an agreement to transfer renewal rights to Australia’s QBE Holdings. Best put its financial strength...
EU, U.S. Warn China on Toy Safety Before Christmas
Nov 17 2008 // The consumer chiefs of the European Union and the United States called on China on Monday to crack down on unsafe products, especially toys, ahead of Christmas. More than 20 million Chinese-made toys were recalled...
Euro Zone in Recession as World Leaders Head for Summit
Nov 14 2008 // Recession has struck much of Europe, data showed on Friday, confirming a widespread economic downturn that world leaders hope to tackle at a weekend summit in Washington. The worst financial crisis in 80 years has weakened...
Survey Finds World Business Leaders Back More Regulation
Nov 12 2008 // Business leaders around the world back greater regulation in response to the global financial crisis, a survey showed on Wednesday, with support strongest for curbs on credit rating firms, hedge funds and structured...
Ratings Recap: Arch Re (Europe), Singapore Re, AIG (Taiwan), Eurasia, Hyundai (China)
Nov 10 2008 // Standard & Poor’s Ratings Services has assigned its ‘A’ counterparty credit and financial strength ratings to Arch Reinsurance Europe Underwriting Ltd. (Arch Re Europe), a newly formed Ireland-based...
World Leaders Urge Obama to Shape New Economic Order
Nov 5 2008 // Political leaders urged U.S. President-elect Barack Obama on Wednesday to help forge a new economic order and lead the world out of its worst financial crisis since the 1930s. Excitement about the election of Democrat...
Global Crisis Dominates A.M. Best’s London Conference
Nov 2 2008 // Execs Say Market Remains Attractive Even as Crisis Puts Pressure on Prices The by now all too familiar litany of the world’s financial woes took pride of place at A.M. Best’s conference in London on Oct. 15....
Credit Crisis Hits Europe: Coface Lowers UK, Ireland, Iceland Ratings
Oct 31 2008 // Coface, the Paris-based business specialist, has issued a bulletin, which notes that the “credit crisis is spreading throughout Europe amid a deepening financial crisis, leading to a sudden squeeze in banking credit,...
Marsh Rolls Out New Binding Authorities for ‘Tough Times’
Oct 30 2008 // Marsh announced the creation of a dedicated binding authority and consumer placement service in London to meet the needs of clients globally. “This team will be the access point to the London and European insurance...
ACE Europe Names Dmitriev Russia Manager
Oct 30 2008 // The ACE European Group has appointed Nikolay Dmitriev as Country Manager for its Russian operation, ACE Insurance Company CJSC. He replaces Andreas Wania who moved to the role of Regional Manager Central Eastern Europe,...
Aon Redomiciles White Rock RRG from Gibraltar to Malta
Oct 28 2008 // Aon announced that part of its White Rock operation, described as a “unique group of insurance and reinsurance vehicles with operations in key domiciles including Bermuda, Gibraltar, Guernsey and Luxembourg,”...
EC’s Barroso Says Crisis Needs Heightened Coordination
Oct 23 2008 // The current financial crisis will require unprecedented levels of global coordination to resolve it because no country is immune to its effects, European Commission President Jose Manuel Barroso said on Thursday. Speaking...
European Commission to Crack Down on Derivatives Risk
Oct 21 2008 // The European Commission said on Friday that it intends to make proposals to control risks in the $60 trillion credit derivatives market, which is seen as one of the causes of the worst financial crisis in 80...
Global Crisis Dominates A.M. Best’s London Conference
Oct 20 2008 // The by now all too familiar litany of the world’s financial woes took pride of place at A.M. Best’s well-attended conference (over 240 attendees) in London on October 15. Roger Sellek, the rating agency’s...
The Era of Re-Regulation is Upon Us
Oct 20 2008 // Although the nation’s attention is focused on the financial crisis it is worth thinking about how this mess will affect attitudes toward government intervention. The July issue of The Atlantic magazine, published...
