Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Aon’s April Catastrophe Report: Storms Deal Blow in U.S.; Floods Take 78 Lives in Africa
May 10 2018 // During April, five separate storm systems caused severe thunderstorms across the United States, the strongest of which affected the Plains, Midwest, Southeast, Mid-Atlantic, and the Northeast, with nearly 70 tornado...
With Just Weeks to Go for GDPR, Europe’s Regulators Say They’re Underfunded, Unprepared
May 9 2018 // FRANKFURT/BRUSSELS/PARIS— Europe’s General Data Protection Regulation (GDPR) has been billed as the biggest shake-up of data privacy laws since the birth of the web. There’s one problem: many of the...
Tokio Marine Receives Approval for Subsidiary in Luxembourg
May 8 2018 // Tokio Marine Group said it has received regulatory approval from Luxembourg’s Commissariat aux Assurances and the Japanese Financial Services Authority to set up a new insurance company in Luxembourg. The new...
Sompo Completes Integration of Nipponkoa Insurance of Europe as Subsidiary
May 8 2018 // Bermuda-based specialty insurer and reinsurer Sompo International Holdings Ltd. said that the integration of Sompo Japan Nipponkoa Insurance Company of Europe Limited (SJNKE) into Sompo International reached a significant...
Insurers Advance Post-Brexit Hub Plans Despite Promises of Transition
May 7 2018 // Lloyd’s of London, AIG, Allianz and other insurers are ignoring assurances and establishing new hubs in Britain and the European Union before Brexit in March 2019 to ensure access to customers. The moves come despite...
European Central Bank Test Simulates Cyber Attacks on Financial Firms
May 3 2018 // The European Central Bank has designed a new test simulating cyber attacks on banks, stock exchanges and other firms that are critical for the functioning of the financial system, it said on Wednesday. The move follows a...
Facebook Loses Bid to Delay EU Data Privacy Suit
May 2 2018 // Ireland’s High Court has refused a request by Facebook to delay referral to Europe’s top court of a landmark privacy case that could strike down legal instruments used by U.S. tech companies to transfer EU...
U.K.-EU Brexit ‘Working Group’ Tasked with Fate of Insurance Policies
May 2 2018 // The European Central Bank and the Bank of England have been drafted in to study the threats that Brexit poses to financial services. Just don’t expect this “technical working group” to save the...
Facebook Wants to Block Top EU Court from Getting Key Privacy Case
May 1 2018 // Facebook bid on Monday to block referral of a landmark privacy case to Europe’s top court by requesting a last-ditch appeal, seeking to avoid a potential ban on the legal instrument it uses to transfer users’...
Beazley Launches GDPR Helpline for UK Policyholders
Apr 25 2018 // Beazley has partnered with international law firm DAC Beachcroft to launch a General Data Protection Regulation (GDPR) helpline for its Beazley Breach Response (BBR) policyholders in the UK. The new GDPR regulations, which...
Sompo International Receives Luxembourg OK for Post-Brexit P/C Subsidiary
Apr 23 2018 // Bermuda-based property/casualty insurer and reinsurer Sompo International Holdings Ltd. said it has received the regulatory approvals from the Ministry of Finance of Luxembourg to establish a new subsidiary, SI Insurance...
U.S., Europe Order Emergency Checks on 700 Engines Like One in Southwest Accident
Apr 23 2018 // U.S. and European airline regulators on Friday ordered emergency inspections within 20 days of nearly 700 aircraft engines similar to the one involved in a fatal Southwest Airlines engine blowout last week, citing risks of...
Facebook to Restrict Number of Users Protected Under EU’s New Privacy Law: Reuters
Apr 23 2018 // If a new European law restricting what companies can do with people’s online data went into effect tomorrow, almost 1.9 billion Facebook Inc. users around the world would be protected by it. The online social network...
AIG Prepares for Brexit with Authorization of UK, Luxembourg Subsidiaries
Apr 20 2018 // American International Group Inc. announced the authorization of new insurance companies in the United Kingdom and Luxembourg in preparation for the UK’s exit from the European Union. The formation of the two new...
Generali to Sell Belgian Operations to Athora Holding for $668.3M in Cash
Apr 19 2018 // Italy’s Generali has agreed to sell its Belgian operations to Athora Holding Ltd. for approximately €540 million ($668.3 million) in cash. The transaction is expected to close in the second half of 2018, subject to...
Spanish Mayor Offers Gibraltar’s Insurers a Solution for Post-Brexit Access to EU
Apr 19 2018 // A small town mayor from southern Spain is offering Gibraltar-based insurers a way to retain access to the European Union single market after Britain leaves the bloc next year. Juan Franco of La Linea on the southern tip of...
Facebook Begins Complying with EU’s Privacy Rules; Global Users to Be Protected
Apr 18 2018 // Facebook Inc. is starting to comply with new privacy rules in Europe. And then, to get ahead of scrutiny everywhere else, the company said it will provide the same protections to the rest of its 2 billion users. Users in...
Insured Losses from Europe’s Storm Friederike Rise to €1.63B (US$2.0B): PERILS
Apr 17 2018 // PERILS AG has issued its second loss estimate of €1.63 billion for Europe’s windstorm Friederike, also known as David. Friederike caused property damage in the British Isles, Belgium, the Netherlands and Germany on...
U.K. Insurance Exec Denies Misuse of His Firms’ Data to Influence Brexit Vote
Apr 17 2018 // A prominent campaigner to leave the European Union, Arron Banks, denied allegations on Tuesday by a former employee of political consultancy Cambridge Analytica that he had misused personal data for political...
U.K. Businesses Against Uncertainty of Second Brexit Referendum
Apr 17 2018 // The plot to reverse Brexit is missing a key ally: U.K. business. Companies have been among the most outspoken critics of the split from the European Union, and many have much to lose from the divorce. But as a group of...
