Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Beazley Begins Underwriting at New Dublin-Based Subsidiary
Oct 10 2017 // Specialist insurer Beazley has underwritten its first policies through its new Dublin-based insurance company, which was authorized by the Central Bank of Ireland in July. The company, Beazley Insurance, is rated...
Insurers to Crack Down on Illegal Fishing by Denying Coverage
Oct 6 2017 // A coalition of insurance firms agreed on Friday to crack down on pirate fishing by banning coverage for trawlers whose illegal catches are worth at least $10 billion a year. Firms would deny insurance for vessels on a...
German Firms with UK Operations Should Prepare for ‘Hard Brexit’
Oct 5 2017 // German firms with a presence in Britain should make provisions now for a “very hard Brexit,” Germany’s biggest industry group said on Thursday, because the government in London does not know what it...
Everest Re Taps AXIS Re’s Heizmann as Head of European Credit & Surety
Oct 4 2017 // Everest Re Group Ltd. announced that Markus Heizmann will join Everest Reinsurance (Ireland), dac, as head of its Zurich-based credit & surety operations. He will work alongside Laurent Arnould, head of Financial...
Willis Towers Watson Launches Facultative Re Hub for Germany, Austria, Switzerland
Oct 4 2017 // Willis Towers Watson has launched a hub that will focus on facultative reinsurance business across the German-speaking region of Germany, Austria and Switzerland (DACH). The broker said the hub will further enhance its...
Growing List of Re/Insurers Make Decisions on Post-Brexit EU Headquarters
Oct 3 2017 // Everest Re Group Ltd. has said its Dublin-based unit has received approval from the Central Bank of Ireland to become a non-life insurer, joining a growing list of insurers setting up regulated EU operations in case...
Everest Re Gets Nod to Launch Irish Insurer for EU Business; Aon’s Cross Is CEO
Oct 3 2017 // Everest Re Group Ltd. announced today that its Dublin-based subsidiary has been granted authorization in principle by the Central Bank of Ireland to operate as an authorized non-life insurer in Ireland. This entity, to be...
UK Regulators Eye Post-Brexit ‘Interim’ Status for EU-Based Financial Firms
Oct 2 2017 // Britain’s regulators could grant interim permission for European Union investment and trading firms to continue operating in the UK after the country leaves the bloc in 2019. Andrew Bailey, chief executive of the...
Climate Researchers Warn of Hotter Summers, More Wildfires, in Southern Europe
Sep 29 2017 // Climate researchers are warning that Europeans should prepare for the return of “Lucifer,” saying the hellishly named heat wave that hit parts of the continent this summer could become a regular occurrence due...
Lloyd’s Expects $4.5 Billion Hit from Hurricanes Harvey, Irma
Sep 28 2017 // Lloyd’s of London expects net losses of $4.5 billion from hurricanes Harvey and Irma, which analysts said would eat into the insurer’s capital and hit its profitability. Although losses from natural...
Top Challenges for London’s Re/Insurers Are Soft Market, Brexit, Regulations: IUA
Sep 28 2017 // The top three challenges facing London market companies are the soft market, Brexit and regulatory compliance, according to a survey of International Underwriting Association (IUA) members. In an online questionnaire,...
Update: Lloyd’s of London Reports 16% Drop in H1 2017 Profit to $1.6B
Sep 28 2017 // Lloyd’s of London expects net losses of $4.5 billion from hurricanes Harvey and Irma, which analysts said would eat into the insurer’s capital and hit its profitability. Although losses from natural...
EU Regulator Warns UK Insurers to Avoid ‘Fronting’ in Post-Brexit EU HQs
Sep 28 2017 // London-based insurers applying for licenses to operate in the European Union after Brexit will be scrutinized for any attempts to game the system, the bloc’s insurance watchdog said. Insurance specialists say some...
S&P Assigns Odyssey Re Europe with ‘A-‘ Rating, Stable Outlook
Sep 25 2017 // S&P Global Ratings has assigned its ‘A-‘ long-term financial strength rating to Odyssey Re Europe S.A. (ORESA), with a stable outlook. The rating on ORESA is based on an explicit guarantee provided by...
Bank of England Seeks Brexit Deal to Cover Derivative, Insurance Contracts
Sep 25 2017 // The Bank of England said an agreement is needed as part of the Brexit process to protect the “long-term validity” of 20 trillion pounds ($27.1 trillion) of existing derivative contracts. The BOE’s...
U.S. and EU Sign Covered Agreement on Insurance Regulation
Sep 22 2017 // The United States and European Union have scheduled a ceremony for today for the signing of a bilateral agreement on prudential insurance and reinsurance measures. Both sides announced in July their intention to sign the...
AXA Continues Search for Fund Management Partner
Sep 21 2017 // AXA has talked to BNP Paribas and Natixis in its search for a partner for its fund management arm, aiming to build a business with at least 1 trillion euros ($1.2 trillion) of assets under management, sources familiar with...
XL Group Picks Dublin for Post-Brexit EU Headquarters
Sep 20 2017 // XL Group is the latest property/casualty insurer to make plans to move its European insurance company headquarters from the United Kingdom in response to its vote to leave the European Union. The insurer and reinsurer...
EU Seeks More Control Over Insurers and Financial Sector
Sep 20 2017 // The European Commission proposed on Wednesday transferring some powers to oversee the financial sector from national capitals in a move to extend the EU’s grip on the industry as the bloc prepares for the departure...
Insurers Hope Insurtech Will ‘Nudge’ Customers to Less Risky Behaviors
Sep 19 2017 // Insurers are counting on real-time technology to help them cut back payouts, from a system warning ships of nearby pirates to an app offering to buy sleepy drivers a coffee on the motorway. The lure of products promising...
