Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Insurance Data for Sale in China – Despite Strict Data Protection Laws
Aug 23 2018 // When William Zhang’s car insurance was about to expire in March, he didn’t need to look far for renewal options. In the two months before the policy was up Zhang received calls almost daily from insurers trying...
UK Insurers Push Ahead with Brexit Plans in Absence of Trade Deal: A.M. Best Report
Aug 21 2018 // In the absence of a Brexit trade deal between the United Kingdom and the European Union, insurers in the UK have accelerated their plans to establish new EU subsidiaries and ensure business continuity after Brexit,...
Extreme Weather Risk Grows as Warming Earth Disrupts High-Altitude Winds: Study
Aug 21 2018 // Scorching summer heatwaves and downpours are set to become more extreme in the northern hemisphere as global warming makes weather patterns linger longer in the same place, scientists said on Monday. They said there was a...
No-Deal Brexit: A Lose-Lose for UK and EU Financial Stability
Aug 20 2018 // With Brexit talks back from the summer holidays, it’s worth considering one way in which failure to reach a deal before the U.K.’s departure in March would also be bad for the European Union. Such an outcome...
Acrimonious, Disruptive No-Deal Brexit Is Growing Risk, Says Fitch
Aug 17 2018 // Ratings agency Fitch said on Thursday that it saw a growing risk of a bitter and economically damaging Brexit that could lead to a further downgrade of Britain’s sovereign credit rating. “We no longer believe...
Global Insured Catastrophe Losses Decline to $20 Billion in H1: Swiss Re
Aug 16 2018 // Global insured losses from natural catastrophes and man-made disasters during the first half of 2018 were US$20 billion, down from US$30 billion in H1 2017, according to Swiss Re Institute’s latest sigma study. On...
Randall & Quilter Signs Program Underwriting Partnerships with 3 European MGAs
Aug 16 2018 // Randall & Quilter Investment Holdings Ltd. announced that its wholly owned European subsidiary R&Q Insurance (Malta) Ltd. has signed three new program underwriting partnerships – or fronting arrangements – with...
Brexit Effect: Number of EU Nationals Working in UK Plunges During Q2
Aug 16 2018 // Further evidence that Brexit is deterring European Union workers emerged in figures published Tuesday [Aug. 14]. The number of EU nationals working in the U.K. in the three months through June plunged by 86,000 from a year...
Amazon Weighs Formation of UK Insurance Comparison Website: Reuters
Aug 16 2018 // Amazon.com Inc is sounding out some of Europe’s top insurance firms to see if they would contribute products to a UK price comparison website in what would be a major foray by the U.S. online retail giant into the...
Risk of ‘Chaotic’ No-Deal Brexit Increasing: UK Foreign Minister Hunt
Aug 15 2018 // The risk of a no-deal Brexit has been increasing and the European Union commission needs to change its attitude if a deal is to be reached, British foreign minister Jeremy Hunt said on Tuesday. “Everyone needs to...
Moody’s Forms Stockholm Subsidiary to Prepare for Brexit
Aug 14 2018 // Credit ratings agency Moody’s is converting its Stockholm branch into a subsidiary as the sector faces regulatory pressure to have enough staff in the European Union post Brexit. Moody’s, one of the “Big...
Various Scenarios for Brexit: Deal, No Deal, New Referendum?
Aug 13 2018 // The United Kingdom is due to leave the European Union on March 29, yet little is clear: There is, so far, no divorce deal, rivals to Prime Minister Theresa May are circling and some lawmakers are pushing for a rerun of the...
U.S. on Lookout for Possible Iranian Cyber Attacks After Reinstatement of Sanctions
Aug 13 2018 // The U.S. is bracing for cyberattacks Iran could launch in retaliation for the re-imposition of sanctions this week by President Donald Trump, cybersecurity and intelligence experts say. Concern over that cyber threat has...
2nd Chinese Manufacturer Makes Tainted, Carcinogenic Heart Drug: EU
Aug 10 2018 // The European Medicines Agency (EMA) said on Friday that a second Chinese contract manufacturer, Zhejiang Tianyu, had produced a common blood pressure and heart drug with an impurity that could cause cancer. The alarm over...
UK Should Drop Migration Target After Brexit: Business Lobby
Aug 10 2018 // The UK should drop its net migration target after Brexit and introduce a system for arrivals from the European Union that better meets employers’ needs, Britain’s biggest business lobby group said. The...
July’s Droughts, Wildfires, Floods Caused Billions in Global Economic Losses: Aon
Aug 10 2018 // Many countries across the globe saw worsening in drought-related and wildfire conditions during July, which have led to hundreds of deaths and created a significant financial impact – particularly in the agriculture,...
Global Commercial Insurance Prices Rise for 3rd Consecutive Quarter: Marsh
Aug 10 2018 // Global commercial insurance prices rose in the second quarter of 2018, marking the third consecutive quarter of increases, according to Marsh’s “Global Insurance Market Index.” These average increases...
AIG Appoints Aspen Re’s Lillelund as CEO of AIG Europe in Luxembourg
Aug 8 2018 // American International Group, Inc. announced that Thomas Lillelund will join as chief executive officer of AIG Europe SA. Headquartered in Luxembourg, AIG Europe SA is a new legal entity for AIG’s business in the...
Major Post-Brexit Risk: UK’s $33.5B of Financial Services Exports to EU
Aug 8 2018 // Britain must avoid tying Brussels up in red tape or antagonizing its soon to be former European Union partners and the United States if it is to maintain access to the bloc’s financial services market after...
Aspen Promotes Issavi to Lead Its Reinsurance Business, Succeeding Lillelund
Aug 8 2018 // Bermuda-based Aspen Insurance Holdings Ltd. announced that Emil Issavi, president and chief underwriting officer of Aspen Re, has been appointed to lead its reinsurance business with immediate effect. Issavi succeeds...
