PZU SA plans to review its strategy to bolster earnings as last year’s profit collapsed to the lowest since its debut in Warsaw in 2010 after being rocked by record-low interest rates. Under Chief Executive Officer Michal Krupinski, who took …
PZU SA appointed Michal Krupinski, an executive at Bank of America Inc. and former deputy treasury minister, as chief executive officer of Poland’s largest insurer, in the latest change as Poland’s new government extends its influence over the economy. Krupinski, …
AXA announced it will acquire Liberty Ubezpieczenia, the Polish property & casualty operations of Liberty Mutual Insurance Group for 92.3 million Polish Zloty ($23 million), plus the net asset value outstanding as of the date of closing. Liberty Ubezpieczenia is …
DUAL Group, the underwriting arm of Hyperion Insurance Group, announced its launch into Central and Eastern Europe (CEE), following the acquisition of the majority stake of ToruĊ, Poland-headquartered insurance specialist, Data Connect Direct (DCD). This acquisition, which creates DUAL Polska, …
According to catastrophe modeling firm AIR Worldwide, Southeast Europe is experiencing record levels of flooding after three months’ worth of rain fell in just three days. The report cited the “many landslides” that have covered roads, homes, and villages, as …
Willis Europe B.V., a division of Willis Group Holdings plc, has acquired 100 percent of the shares of Polish insurance broker, Brokerskie Centrum Ubezpieczeniowe (AMA) Sp. Zoo. Willis said the deal, effective immediately, will further strengthen its “presence in the …
In its latest monthly assessment of the world’s catastrophes for November Aon Benfield highlights the first winter weather event of the season across Europe with “notable affects.” the report, published by the company’s Impact Forecasting team, who evaluate global natural …
Heavy snow caused travel chaos across much of northern Europe on Thursday, keeping London’s Gatwick airport closed for a second day and disrupting road and rail travel in France, Germany and Switzerland. Days of sub-zero temperatures and snow in Britain, …
Swiss Re has issued a bulletin noting that it is “well placed for the upcoming 2011 renewal negotiations with its European clients.” The talks, which begin this week in the German resort of Baden-Baden, bring together brokers and reinsurers (and …
“2011 will be another challenging year,” said Roger Sellek, the CEO of A.M. Best Europe – Rating Services Limited, at the rating agency’s annual review of the state of Europe’s insurance industry. Speaking to an attentive audience at the Grange …
