Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Asian Insurers Expected to Seize on Credit Crunch as Opening to Buy in U.S. and Europe
Jun 3 2008 // Asian insurers, particularly China’s major players, are likely seize the credit crunch as an opportunity to snap up assets in Europe and the United States, senior insurance figures said on Tuesday. “Asian...
Europe’s Insurers Lead M&A Activity Says Conning Report
May 29 2008 // “Global insurance industry acquisitions in 2007 were driven by non-U.S. insurers, primarily Western European firms-who clearly see value in this market,” stated Sherry Manetta, director at Conning Research...
Generali Pulls Out of RBS Insurance Deal as Deadline Nears
May 29 2008 // Italy’s Generali dropped out of the running for Royal Bank of Scotland’s insurance arm on Wednesday, hours ahead of a first bid deadline, prompting speculation that interest in the asset is fading. RBS,...
ACE Europe Names Drinan Distribution, Development Director for UK & Ireland
May 28 2008 // ACE Europe announced the appointment of Pat Drinan as National Distribution and Development Director for the UK & Ireland. He will be responsible for developing broker relationships and distribution of ACE’s...
Hongler to Lead Zurich’s European Operations; Joins Management Board
May 28 2008 // Zurich Financial Services Group announced that Markus Hongler, currently CEO of Zurich Switzerland, has been appointed CEO of Zurich Insurance Ireland Limited (ZIIL), Zurich’s main EU-wide risk carrier for general...
Zurich Favored to Buy RBS Insurance
May 27 2008 // Rivals are circling Royal Bank of Scotland’s insurance arm as a bid deadline approaches, but aside from Zurich Financial Services, few may have the desire and firepower to buy Britain’s largest motor...
Zurich Frontrunner for Royal Bank of Scotland Insurance Buy
May 23 2008 // Rivals are circling Royal Bank of Scotland’s insurance arm as a bid deadline approaches, but aside from Zurich Financial Services, few may have the desire and firepower to buy Britain’s largest motor...
Australia Approves AXIS Branch
May 23 2008 // Bermuda-based AXIS Capital Holdings Limited announced that AXIS Specialty Europe Limited, one of its European operating subsidiaries, has been authorized by the Australian Prudential Regulation Authority (APRA) to operate...
Ratings Recap: Triad, Truckers, Genworth, Arrow, American European, America Fuji, Farm Bureau, American Farmers
May 22 2008 // Standard & Poor’s Ratings Services has changed the outlook on its ‘B’ long-term counterparty credit rating on Triad Financial Corp. to negative from stable. “The outlook change reflects the...
Allianz in Talks on Dresdner Bank
May 21 2008 // Germany’s Allianz is in talks about the future of its Dresdner Bank unit and sees a real chance for banking consolidation in Germany, its chief executive said on Wednesday in remarks that boosted German bank...
Proposals Issued for WTO Doha Deal
May 20 2008 // Mediators in the core agriculture and industrial goods negotiations at the World Trade Organization (WTO) issued new proposals on Monday, clearing the way for a meeting of ministers to clinch an outline trade deal. The...
EU Commissioner Sees ‘Makings of an International Trade Agreement’
May 19 2008 // European Union Trade Commissioner Peter Mandelson said on Monday he saw the makings of an international trade agreement in new proposals drafted by the World Trade Organization. The WTO is expected to issue negotiating...
Lloyd’s Unveils 360 Project’s Latest Target: the ‘Liability Challenge’
May 15 2008 // “Businesses could be facing a future liability crisis if they do not face up to growing litigation issues,” Lloyd’s warns in its latest report -“‘Directors in the Dock – is business...
European Utility Companies May be Underinsured, Warns Marsh
May 9 2008 // The “Marsh Power Forum” in Paris this week identified potential insurance problems for the industry. Marsh noted that “the combination of rising demand and insured costs in Europe’s electricity...
Dresdner Posts Q1 Loss; Allianz Confirms Profit Decline
May 9 2008 // Dresdner Bank stayed in the red in the first quarter after writing down €845 million ($1.3 billion) on structured finance investments, keeping it in the spotlight as parent Allianz works to split it in two. Dresdner...
S&P Report: Solvency II More Significant for European Insurers than Credit Crunch
May 8 2008 // Standard & Poor’s Ratings Services has published a report – “Subprime Asset Losses And Related Capital Market Disruption Still Have Little Effect On European Insurance Industry” – which...
AXA Q1 Group Sales Fall by 2.7% to $43.5 Billion
May 8 2008 // France’s AXA Group, Europe’s second-biggest insurer, said first-quarter group sales fell 2.7 percent to €28.066 billion ($43.46 billion) with turnover hurt by adverse foreign exchange rates and the credit...
Lloyd’s Amlin to Launch Insurance Risk Trading Venture
May 7 2008 // Amlin plc, one of Lloyd’s largest insurers, has announced its intention to form a new Investment Management Partnership with John Wells, who will become Chairman, and Luca Albertini, who will become Chief...
European Banks Expected to Sell Insurance Businesses as Credit Crunch Takes Toll
May 7 2008 // Royal Bank of Scotland Group Plc’s decision to sell its insurance business is likely to prompt a string of other banks to reconsider the strategic value of owning insurers. Faced with billions of dollars in...
Germany Says EU Must Be Firm in WTO Talks
May 5 2008 // The European Union must be firm in World Trade Organization trade talks despite the global rise in food prices, a German official was quoted as saying on Sunday. “Due to the food crisis, we could face new...
