Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Guy Carpenter Promotes Reina to CEO Continental Europe, MENA
Mar 5 2014 // Guy Carpenter has announced that Massimo Reina has been promoted to the position of CEO of Continental Europe and MENA [Middle East/North Africa], with immediate effect. He succeeds Peter Stubbings, who has taken up the...
Aon Benfield’s Impact Forecasting Releases Updated European Windstorm Model
Mar 5 2014 // Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, has launched its new European windstorm model. The model, which has been in development for the last three years, “offers an...
RSA’s CEO Hester Taps Buffett for Reinsurance; Confirms Share Sale
Feb 28 2014 // After less than a month on the job, RSA Insurance Group Plc Chief Executive Officer Stephen Hester announced a stock sale and tapped Warren Buffett for reinsurance to help strengthen the insurer after its scandal in...
Investors, Including Allianz, Mount Attack on Norway in $20 Billion Oil & Gas Row
Feb 26 2014 // Allianz SE, Abu Dhabi’s wealth fund and firms including Statoil ASA have mounted a multi-pronged battle against Norway to defend revenue and oil- and gas- industry projects valued at $20 billion. Owners in gas...
Best Affirms AIG Europe’s Ratings; Outlook Stable
Feb 21 2014 // A.M. Best has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of UK-based AIG Europe Limited (AEL), a wholly owned subsidiary of American International...
AXA Profit Rises 10% in 2013 on Life, Property and Casualty
Feb 21 2014 // AXA SA, Europe’s second-largest insurer, posted a 10 percent increase in 2013 profit on higher earnings at its life and savings and property and casualty divisions. Net income rose to €4.48 billion ($6.15 billion)...
EU’s Justice Chief Reding Warns UK Exit Would Isolate City of London
Feb 19 2014 // London’s financial services center would lose access to the wider European Union should Britain quit the bloc, the EU’s justice chief said on Monday, warning that such a move would reduce its status to that of...
Global 2013 Cat Losses at $40 Billion Were ‘Below Average’ – Guy Carpenter
Feb 13 2014 // Guy Carpenter & Company, LLC, the leading global risk and reinsurance specialist and member of Marsh & McLennan Companies, 2013 Catastrophe Review concludes that “natural catastrophes and man-made disasters...
Europe Warns Swiss of Consequences after Immigration Vote
Feb 11 2014 // Switzerland could lose its privileged access to the European single market, European officials said on Monday, after Swiss voters narrowly backed proposals to curtail immigration from the EU in a referendum that has...
Worldwide Broker Network Celebrates 25th Anniversary
Feb 10 2014 // The Worldwide Broker Network, the network of independent property/casualty brokers and employee benefits consultants, has begun a year-long celebration of its 25th anniversary. More than 90 executives from 27 different...
EU Parliament Calls for Three Binding Climate Targets for 2030
Feb 6 2014 // Members of the European Parliament on Wednesday voted in favor of three climate and energy targets for 2030, rebuffing a Commission plan for just one fully binding goal. The vote at the European Parliament in Strasbourg,...
A.M. Best Europe Obtains ECAI Status under New EU Regulations
Feb 6 2014 // A.M. Best Europe – Rating Services Limited (AMBERS) has confirmed that it has obtained External Credit Assessment Institution (ECAI) status under new European Union (EU) regulations, which came into force in January...
European Banks have $3.4 Trillion of Exposures to Emerging Markets
Feb 5 2014 // European banks have loaned in excess of $3 trillion to emerging markets, more than four times U.S. lenders and putting them at greater risk if financial market turmoil in countries such as Turkey, Brazil, India and South...
Corruption Costs European Economy $162 Billion a Year
Feb 4 2014 //
Best Affirms Swiss Re, Europe Affiliates ‘A+’ Ratings; Outlook Stable
Jan 31 2014 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Swiss Reinsurance Company Ltd, European...
Iran Oil-Shipping Insurance Seen Unusable on Lack of Clarity
Jan 29 2014 // Insurance for tankers to export Iranian crude may be unusable even after the U.S. and the European Union eased sanctions against the Persian Gulf state, a group covering vessel owners said. Ship owners hauling Iran’s...
Beazley, Hiscox Form D&O Consortium with Capacity up to $50 Million
Jan 28 2014 // Lloyd’s of London insurers Beazley and Hiscox have partnered to offer brokers and clients a D&O consortium through which the syndicates will provide materially higher limits and offer additional options to...
Part II – Reinsurance: Emerging Markets and Risks – the Road Ahead
Jan 27 2014 // As detailed in Part I, the reinsurance industry faces the task of partially reinventing itself to expand in those sectors where it can achieve growth. Property catastrophe coverage isn’t off the table, but it’s...
Global Natural Disasters Cost Insurers $45B in 2013
Jan 27 2014 // In 2013, there were 296 separate natural disaster events that produced total economic losses of $192 billion – four percent below the 10-year average of $200 billion, but above the average 259 events, according to a...
Aon Benfield Securities Completes Europe Windstorm Cat Bond Windmill I Re
Jan 23 2014 // Aon Benfield Securities, the investment banking division of global reinsurance intermediary and capital advisor Aon Benfield, announced the successful completion of the first European Windstorm indemnity catastrophe bond...
