Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
ACE Europe Management Moves
Jun 29 2007 // The ACE European Group has announced some changes to its Continental European country management with immediate effect, as follows: Jeff Moghrabi is to assume the role of Country Manager for ACE France, replacing Olivier...
RMS Releases New European Earthquake Model
Jun 28 2007 // Risk Management Solutions has launched an extensive new model for earthquake risk in Europe, which it believes is the “most comprehensive model of its type.” It covers Austria, Belgium, Germany, Italy and...
S&P’s European Insurance Symposium Highlights Impending Changes
Jun 28 2007 // Kathleen A. Corbet, President of Standard & Poor’s, told the audience at its second annual European Insurance Symposium that the insurance sector is at a critical point, with the move to greater transparency,...
Private Equity Firms Face Increased Litigation, Says Marsh Report
Jun 28 2007 // According to a survey by Marsh’s UK office, “almost half of private equity firms believe they will face an increased level of lawsuits over the next two years.” 47 percent of those surveyed predicted an...
FSA Approves ACE UK Life Co.
Jun 28 2007 // ACE Limited has received approval from the UK’s Financial Services Authority to establish a London-based life assurance company, ACE Europe Life Limited, doing business as “ACE Life.” The new Company...
RMS Sets Parameters for Brit’s Fremantle Sidecar
Jun 25 2007 // Risk Management Solutions has designed the trigger mechanisms and performed the risk analysis for a securitization of multi-peril, multi-event catastrophe risk relating to securities issued by Fremantle Ltd, a Cayman...
Zurich Forms ‘Direct Business’ Unit
Jun 25 2007 // Zurich Financial Services Group has established a new business unit for its direct business in Europe effective July 1, 2007. Called quite plainly “Direct Business,” the new unit will be part of Zurich’s...
Commission Files Final Report on Holocaust Insurance Claims
Jun 19 2007 // The National Association of Insurance Commissioners has released a report on the activities of the International Commission on Holocaust Era Insurance Claims (ICHEIC). Authored by ICHEIC Chairman Lawrence S. Eagleburger...
Aspen Re Expands European Operations with Zurich Office
Jun 15 2007 // Aspen Re, a subsidiary of Aspen Insurance Holding Limited, announced the launch of Aspen Re in Europe along with plans to open an office, to be based in Zurich, that will act as the hub for Aspen’s European...
EU High Court Upholds Britain’s Workplace Safety Law
Jun 15 2007 // The European Court of Justice has upheld Britain’s workplace safety law, dismissing a legal claim by the European Commission that it violated EU rules. Under EU law, employers must ensure a safe and healthy workplace...
R&SA Inks New Eastern Europe Deal
Jun 7 2007 // The UK’s Royal & Sun Alliance Insurance Group has signed an agreement to acquire 50 percent of GD II – Global Direct Insurance Investments B.V. (GDI), a joint venture with Direct Insurance Financial...
Business Moves
Jun 4 2007 // Cadence, Strategic Independent Agents Alliance Cadence Insurance Services of Colorado Springs, Colo., became a member of the Strategic Independent Agents Alliance, a network of independent insurance agencies. Cadence...
S&P Warns EU Insurers Not to Ignore Solvency II
May 31 2007 // Standard & Poor’s Ratings Services has issued a report – “Beware Solvency II: As The 2010 Implementation Date Looms Closer, European Insurers Should Ignore It At Their Peril” -, warning the...
FERMA Calls EC Broker Commission Rules ‘Not Entirely Satisfactory’
May 29 2007 // The Federation of European Risk Management Associations notified the European Commission that the level of transparency of broker commissions is still “not entirely satisfactory.” FERMA first proposed changes...
Guy Carp Reports on European Legislative, Judicial Trends
May 25 2007 // Guy Carpenter & Company, LLC, the global risk and reinsurance specialist of the Marsh & McLennan Companies has published a report on the “Recent Legislative and Judicial Trends in Continental Europe...
ACE Europe Opens Offices in Hungary and Czech Republic
May 21 2007 // The ACE European Group has opened two new offices in Budapest, Hungary and Prague, Czech Republic, as part of its expansion plan for Central and Eastern Europe. Peter Dudas will head ACE’s Hungarian operation as...
Study: Financial Executives Expect Business Risks to Persist, Intensify
May 18 2007 // Financial executives at the world’s largest companies expect the severity of their most prevalent business risks to remain constant or intensify through 2009, according to the “Managing Business Risk Through...
Best Downgrades Merchants NH; Rates American European ‘B+’
May 18 2007 // A.M. Best Co. has downgraded the financial strength rating (FSR) to “B+” (Good) from “A-” (Excellent) and issuer credit rating (ICR) to “bbb-” from “a-” of Merchants...
Zurich Q1 Net up 71% to $1.387 Billion
May 16 2007 // Zurich Financial Services Group enjoyed a very good first quarter with all of its business units showing profit gain. Highlights for the period included the following: –Net income of $1.387 billion, a 71 percent...
Allianz Posts Q1 Eastern Europe Revenues of $1.435 Billion
May 15 2007 // Germany’s Allianz, which has been steadily expanding its activities in Eastern Europe, is now realizing strong results from its ventures. Revenues from Central and Eastern Europe in the first quarter of 2007 reached...
