Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Swiss Re-Backed Getsafe Gets German Insurance License, Permitting Europe Expansion
Oct 25 2021 // Digital insurer Getsafe has received its insurance license from Germany’s financial regulator, BaFin. The license will allow Getsafe to accelerate its expansion to the rest of Europe. “The license is a...
Munich Re Doubles Q3 Profit Despite Big Storm Losses in Europe, U.S.
Oct 20 2021 // German reinsurer Munich Re doubled its profit in the third quarter, despite big losses from storms in Europe and the United States, it said on Tuesday, but left its forecasts for the year unchanged. Profit rose to around...
Coverys Launches European Casualty MGA, AEC Europe
Oct 20 2021 // Coverys European Holdings (CEH), a leading underwriting vehicle that invests in speciality managing general agencies in Europe and the UK, announces the expansion of its AEC underwriting agency with the launch of AEC...
Amazon Appeals Record $865M Fine for Violation of EU Data Protection Rules
Oct 19 2021 // Amazon.com Inc. appealed a record 746 million-euro ($865 million) penalty for allegedly violating the European Union’s tough data-protection rules. The appeal was filed at the Luxembourg Administrative Tribunal on...
Guy Carpenter Launches European Wildfire Risk Score as Exposure Management Tool
Oct 18 2021 // Guy Carpenter & Co., the reinsurance business of Marsh McLennan has announced the launch of a Wildfire Risk Score designed to help clients manage their exposure to the evolving risk of wildfire across Europe. The...
North Carolina Clarifies Use of European Lumber in Building Codes
Oct 12 2021 // Thanks to the continuing shortage and price levels of some types of framing lumber, the North Carolina Department of Insurance hopes to clear up confusion over what other types of wood can be used under the state’s...
July’s European Floods Generated Largest Non-U.S. Insurance Industry Loss in 2021
Oct 7 2021 // The extreme flooding event in Western Europe in mid-July generated the largest insurance industry loss figure so far this year – at current estimates of US$11.0 billion, according to CRESTA, the insurance industry...
Broker New Dawn Risk Group Launches Europe Subsidiary in Malta
Oct 7 2021 // New Dawn Risk Group, the London-based broker, announced the launch of its new European subsidiary, New Dawn Risk (Europe), headquartered in Malta. Like its parent company, New Dawn Risk (Europe) focuses on insurance...
People Moves: Ed Bermuda Names Marsh’s Juul as Head of Casualty; Mosaic Hires Jones From Liberty Specialty Markets; BHSI Promotes 2 for UK & Europe
Oct 5 2021 // This edition of International People Moves details appointments at Ed Bermuda, Mosaic Insurance and Berkshire Hathaway Specialty Insurance (BHSI). A summary of these new hires follows here. Ed Bermuda Names Marsh’s...
Swiss Re Estimates Europe’s July Floods to Cost Insurers $12 Billion
Oct 5 2021 // Swiss Re estimated total insured market losses of the insurance industry due to the July floods in Europe at approximately US$12 billion. The insurer also updated its own loss estimate for the July floods at approximately...
Why Post-Brexit Britain Is Economically Isolated, Vulnerable and Running on Fumes
Oct 4 2021 // Lines of cars snake from gasoline stations. Fights break out among angry motorists trying to get fuel. Grocery staples are out of stock on store shelves. A charity warns that doubling heating bills will force a million...
Fortegra Europe Opens Branch in Czech Republic
Sep 23 2021 // Fortegra Europe Insurance Co., a leading international specialty insurer and subsidiary of Tiptree Inc., announced the registration of a branch office in Prague, Czech Republic. Aiming to further strengthen...
EU Plans to Ease Capital Rules for Insurers to Provide €120 Billion Economic Boost
Sep 22 2021 // The European Union proposed changing the bloc’s capital rules for insurers on Wednesday to release 120 billion euros ($141 billion) for repairing an economy hit by COVID and to meet climate goals without eroding...
Speciality Re/Insurer Convex Launches European Subsidiary With A- Rating From S&P
Sep 20 2021 // Convex Group Ltd. announced the launch of a Luxembourg-based European insurance entity, Convex Europe SA (CES). Convex received regulatory approval on Sept. 15, 2021 from the Luxembourg regulator, the Commissariat aux...
Analysis: A Divided London? City Tackles Brexit With Twin-Track Finance Revamp
Sep 3 2021 // High in the skyscrapers that have taken root in its warren of medieval streets, City of London grandees are plotting a post-Brexit regulatory revamp to rival New York. The City, as London’s traditional financial...
Insurtech ELEMENT and MGA Parametrix Launch Cloud Outage Insurance in Europe
Aug 25 2021 // ELEMENT, the Berlin-based insurtech, announced a partnership with managing general agent, Parametrix Insurance, launching parametric cloud outage insurance for companies in Germany. The product is designed to cover...
CVC Capital Completes $700M Purchase of RiverStone Europe from Fairfax
Aug 24 2021 // CVC Capital Partners (CVC), the Luxembourg-headquartered private equity firm, announced the completion of its acquisition of RiverStone Europe from Fairfax Financial Holdings Ltd. and OMERS, the pension plan for...
Insured Losses from European Floods Estimated at $6 Billion-$7.7 Billion: RMS
Aug 23 2021 // RMS, the Newark, Calif.-based catastrophe modeling company, estimates that insured losses from the Western and Central Europe flooding, which occurred between July 12 and 18, 2021, will likely range between €5 billion...
Europe Reinsurers’ H1 Profits Climb on Lower COVID Claims, Hardening Prices: Moody’s
Aug 19 2021 // The four largest European based reinsurers – Munich Re, Swiss Re, Hannover Re and SCOR – reported sharply higher profits in the first half of 2021, compared with the same period in 2020 — as a result of lower...
European Commission Clears Vienna Insurance Acquisition of Aegon’s Businesses
Aug 13 2021 // The European Commission has granted competition law clearance for Vienna Insurance Group’s proposed acquisition of Aegon’s businesses in Central and Eastern Europe, according to the insurer. The acquisition by...
