Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
AIG Promotes Mucerino, Thomas, Portalatin, Baugh at International Unit
Dec 12 2008 // American International Underwriters (AIU), the ), the international property/casualty insurance organization of American International Group, Inc. (AIG), announced a number of executive appointments. Ralph Mucerino, senior...
Best Affirms Zurich Ratings; Revises Outlook to Stable
Dec 12 2008 // A.M. Best Co. has affirmed the financial strength rating (FSR) of A (Excellent) and the issuer credit rating (ICR) of “a+” of Zurich Insurance Company (ZIC), the main operating company of Zurich Financial...
EU Edges Closer to Climate Change, Stimulus Deals
Dec 12 2008 // European leaders moved towards agreement on Friday on a multi-billion dollar plan to tackle the global recession and a climate change plan amended to limit impact on struggling industries. Green groups warned that the...
S&P Finds European Insurance Holds Up Despite Market Conditions
Dec 11 2008 // Standard & Poor’s Ratings Services has published its latest findings on the state of European insurers. It concludes that for the most part, “with the exception of the relatively small number of...
Willis Research Scientists Unveil ‘Groundbreaking’ Hurricane Models
Dec 11 2008 // Scientists from the Willis Research Network (WRN), part of Willis Group Holdings Limited, have outlined groundbreaking new research on future hurricane activity and storm clustering in a presentation at Willis London...
Marsh Warns EU Companies of E&O Risks from Chemical Regulations
Dec 5 2008 // Marsh’s London office has issued a warning that companies that use chemical substances in the European Union (EU) could risk insurance implications “associated with their failure to adhere to the EU’s...
Ace Europe Names Duncan to Head P/C Unit in Ireland
Dec 5 2008 // ACE Europe has appointed Jim Duncan as Property & Casualty Country Manager for Ireland, based in its Dublin office. He will assume full management responsibility for ACE’s P&C product lines distributed...
Insurers Ponder Risk of Encouraging Trees to Fight Global Warming
Dec 1 2008 // Paying landowners to let forests grow is promoted by the United Nations as a viable way to fight global warming, but experts first have to puzzle out how to insure trees against going up in smoke. Under U.N. plans, owners...
ACE Europe Names McKellar Director for Scotland
Dec 1 2008 // ACE Europe has announced the appointment of Colin McKellar as Director of Scotland, based in its Glasgow office. He “will assume full management responsibility for all Property & Casualty (P&C) and Accident...
ACE Launches Swiss Company
Nov 26 2008 // ACE Limited has followed up its move to Zurich, Switzerland, as part of the redomestication of the Group’s holding company (See IJ web site –...
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...
