Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Lloyd’s Seems to be Weathering the Storm
Mar 11 2002 // Elton John’s “I’m Still Standing” could become Lloyd’s theme song—it’s a better fit than “Candle in the Wind.” After the record losses from the WTC attacks, two cash calls,...
Global-Reinsurance Industry Foresees Growth in Online Services
Mar 11 2002 // If anyone needs proof that the Internet is no longer a curiosity, the reinsurance industry is a good place to start looking. Reinsurance companies aren’t generally known for the rapidity with which they adopt...
European Financial Services Round Table Issues Economic Report
Feb 26 2002 // A report commissioned by the European Financial Services Round Table (EFR) has concluded that “the completion of the single market for financial services in Europe would create substantial benefits for consumers...
Holocaust Insurance Claims Panel Faces Recriminations over Delays
Feb 11 2002 // Many European countries observed Sunday, Jan. 27 as Holocaust Memorial Day, a time set aside to honor the memory of the 12 million human beings—over six million of them Jewish—who perished at the hands of the Nazis...
Skandia Named One of Europe’s 10 Greatest Workplaces
Jan 28 2002 // Fortune magazine has named Sweden’s Skandia as one of the one of the ten “greatest workplaces” in Europe, following a survey of journalists, securities analysts, business school professors, consultants...
SCOR Launches Multi-Continental CAT Bond with RMS Technical Help
Jan 28 2002 // On Jan. 3, French reinsurer SCOR Group launched the second installment of its innovative Atlas Re catastrophe bond, with technical analysis and parameters provided by Newark, Calif.-based Risk Management Solutions (RMS)...
Eagleburger Briefly Resigns as Holocaust Claims Fund Chairman
Jan 24 2002 // Former Secretary of State Lawrence Eagleburger reportedly stormed out of a meeting with European insurers yesterday, and abruptly resigned his position as Chairman of the International Commission on Holocaust Era Insurance...
S&P Places MSI Europe on CreditWatch-Negative
Jan 8 2002 // Standard & Poor’s announced that it has placed Mitsui Sumitomo Insurance Co. (Europe) Ltd. (MSI Europe), formerly known as Mitsui Marine & Fire Ins. Co. (Europe) Ltd.’s double-‘A’...
Europe Greets the Euro
Jan 2 2002 // The long wait is finally over, as more than 300 million people in 12 member countries of the European Union finally said goodbye to their francs, marks and liras and began using Euros. The conversion is the culmination of...
Report European Commission Set to Investigate Lloyd’s Regulation
Dec 20 2001 // London’s Financial Times carries a report that the European Commission has completed a preliminary investigation of Lloyd’s operations and may well “open formal proceedings against the UK...
Report Compromise in EU, AIG Dispute Over China Branches
Dec 7 2001 // Of the hundreds of compromises and agreements reached before China was formally admitted to the World Trade Organization last month, one dispute stubbornly refused to go away – the clash between American...
S&P Affirms Eureko’s ‘A-‘ Ratings
Nov 19 2001 // Standard & Poor’s has affirmed its single-‘A’- minus counterparty credit and senior unsecured debt ratings on the Netherlands-based insurer Eureko B.V., and has rated its principle subsidiaries in...
WTO Meeting Concludes with Agreement to Launch New Trade Round
Nov 15 2001 // The World Trade Organization’s plenary session in Doha concluded in the wee hours of Wednesday morning with a breakthrough agreement by all 142 member countries to initiate a new round of trade negotiations early...
HOLOCAUST LAW QUESTIONED
Oct 29 2001 // A California law enacted in 1999 requiring that insurance companies turn over information related to European insurance policies or face loss of their licenses has been ruled an unconstitutional violation of due process,...
Holocaust Reporting Law Ruled Unconstitutional
Oct 12 2001 // A California law requiring that insurance companies turn over information related to European insurance policies or face loss of their licenses has been ruled an unconstitutional violation of due process, according to the...
China To License Nine European Insurers
Sep 27 2001 // Chinese insurance regulators have notified nine European insurers that they may submit documents preliminary to receiving licenses to begin or expand operations in the country. The action comes following China’s...
Zurich Sells Scudder Financial Unit to
Sep 25 2001 // The Anglo-Swiss group Zurich Financial Services (ZFS) and Germany’s Deutsche Bank (DB) announced agreement on a number of cooperation initiatives and the sale of business assets, most notably the transfer of fund...
Trade Center Attack, Acquisitions, Economy to Test AIG
Sep 24 2001 // The events of Sept. 11 shook the foundations of the entire American financial community, and American International Group was no exception. Ironically, AIG had already had a very busy month. In Korea, it looked set to...
‘Money Laundering’ Through Insurers on the Increase
Sep 24 2001 // The conversion of illegal funds into legitimate accounts and investments, commonly known as “money laundering,” is a growth business. According to the International MonetaryFund, money laundering could account...
U.S.- EU To Help Airlines Cover War, Terrorist Risks
Sep 24 2001 // The governments of the U.S., the U.K. and the European Union rode to the rescue of the airline industry over the weekend when they announced separate decisions to help carriers cope with increases in premiums covering war...
