Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
European Gig Workers Hail ‘Landmark’ Directive to Make Them Employees
Dec 9 2021 // Millions of platform workers in Europe could be on their way to being designated as employees, a move that labor groups say could transform their status. The European Commission on Thursday set out new rules that would...
Renault’s Zoe Electric Model Gets Zero-Star Safety Rating From Europe Safety Agency
Dec 8 2021 // French carmaker Renault on Wednesday received a blow for its popular Zoe electric model, as the European New Car Assessment Programme (NCAP) gave it a zero-star safety rating in tests that are standards for Europe. The...
Insured Price Tag for Europe Windstorm Hendrik-Ignatz (Aurore) Estimated at €311M
Dec 3 2021 // Initial insured losses for extratropical windstorm “Hendrik-Ignatz,” also known as “Aurore,” are estimated at €311 million ($352 million), according to PERILS, the independent Zurich-based...
Convex Europe Receives UK Regulatory Approval
Dec 2 2021 // Convex Group Ltd. announced that the UK branch of its recently established Luxembourg-based European insurer, Convex Europe SA (CES) has received approval from the UK regulators: the Financial Conduct Authority and the...
European Insurers Wary of Rising Threat of Sanctions Against Nord Stream 2 Pipeline
Dec 2 2021 // A simmering threat of sanctions against the operator of the $11 billion Nord Stream 2 pipeline risks shutting off cover from European insurers for the politically sensitive project to bring Russian gas directly to...
As COVID Spread, European P/C Insurers Took Hits but Remained Resilient: AM Best
Nov 29 2021 // European property/casualty insurers faced a dip in total average gross written premium and after-tax profit in 2020, but their regulatory solvency ratios remained strong. Pandemic factors generally played a role in both...
Big Europe Reinsurers See Strong 9M Earnings Despite High Natural Disaster Losses
Nov 15 2021 // All four major European reinsurers reported a strong improvement in earnings for the nine months, compared to the same period last year, according to a report from Fitch Ratings. Sharply lower non-life, coronavirus-related...
Allianz, European Investment Bank Back €500M Public-Private Climate Fund
Nov 8 2021 // GLASGOW – The European Investment Bank and Allianz Global Investors said on Monday they plan to raise 500 million euros ($577.55 million) for a fund aimed at bolstering climate mitigation and adaptation in developing...
AIG Europe’s Chief Executive Expects Slowdown in Insurance Rate Rises
Nov 5 2021 // Insurance premium rates are likely to continue to climb in Europe, the Middle East and Africa in 2022, but probably at a slower clip, the chief executive of AIG Europe said at the Reuters Future of Insurance Europe...
EU Regulator Says Insurers Could Face Climate Stress Tests as Soon as 2023
Nov 4 2021 // LONDON – Insurers could face European climate stress tests as soon as 2023, the head of the EU’s insurance regulator said at the Reuters Future of Insurance Europe conference on Thursday. The insurance industry...
Insurer Hiscox Sets Aside $150M for Hurricane Ida, European Flood Losses
Nov 2 2021 // Hiscox has set aside $150 million to cover losses linked to Hurricane Ida and floods in Europe, the insurer said, above analysts’ expectations, while it reported strong premiums written this year thanks to rising...
EU Cybersecurity Agency Warns of Threat From Hackers-for-Hire
Oct 28 2021 // Hackers-for-hire emerged as the biggest threat to online security in the last 15 months, with the COVID-19 pandemic and home working creating opportunities for cybercriminals, EU cybersecurity agency ENISA said in its...
People Moves: Tysers’ Allen to Oneglobal Bermuda; MS Amlin Promotes Wallington for Specialty Re; Kessler Named Chair of Insurance Europe’s Reinsurance Advisory Board
Oct 25 2021 // Allen appointed as Head of Financial Lines for Oneglobal Bermuda Oneglobal Broking, the London-based specialist broker, announced that Christina Allen will join Oneglobal Bermuda as head of Financial Lines. Allen will...
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...
