Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Insured Losses for Europe’s Storm Zeus Estimated at US$200M: PERILS
Apr 13 2017 // The initial estimate of insured property market losses for extratropical cyclone Zeus, which mainly hit France on March 6-7, is €192 million (US$200 million), according to PERILS, the independent Zurich-based...
Political Risk a Growing Concern, Say Brokers, Insurers
Apr 13 2017 // Evan Freely has been insuring global risks for years — through the 2008 market meltdown, the 2002 crisis in Argentina, and the 1993 downturn in Venezuela. Yet turmoil now seems to be coming at a more rapid pace than...
AXIS Re Names XL Catlin’s Leahey as Senior Cat U/W for Europe, MENA
Apr 12 2017 // AXIS Capital Holdings Ltd. announced the appointment of Michael Leahey as vice president and deputy head of Catastrophe Underwriting for Europe, Middle East and North Africa (MENA), and Israel, for AXIS Re. In addition to...
Beazley Joins EbixExchange Accounting Platform
Apr 11 2017 // Ebix Europe, the electronic messaging communications specialists for the global re/insurance market, announced that insurer Beazley is the latest carrier to join its EbixExchange accounting platform. Using ACORD standards,...
Liberty Specialty Markets Taps Equinox Global’s Paton as European Head of GFR
Apr 10 2017 // Liberty Specialty Markets (LSM), the London-based subsidiary of Liberty Mutual Insurance Group, has appointed Alexandra Paton as head of Continental Europe for Global Financial Risks (GFR). Paton will be based in both...
EU to Pay €60M to Britain for Repair of 2015-16 Flood Damage – Despite Brexit
Apr 5 2017 // Britain will get 60 million euros (51.3 million pounds) from the European Union to repair damage caused by the floods last year, a lawmaker said on Tuesday. Britain had asked for EU support to rebuild infrastructure...
PERILS Releases Updated Exposure Database
Apr 4 2017 // PERILS AG, the independent Zurich-based company that provides industry-wide catastrophe insurance data, has released the 2017 update of the PERILS Industry Exposure Database (IED). The updated database is composed of more...
City of London Will Survive Brexit – Even if Many Jobs Move to Continent: Official
Apr 3 2017 // The City of London should emerge largely unscathed from Brexit even though thousands of banking and insurance jobs could move to the continent, the financial district’s policy chief said. The “City” or...
Brussels Hopes to Lure Other Finance Firms After Its Success with Lloyd’s
Mar 30 2017 // Brussels expects to lure other financial players after convincing Lloyd’s of London, the world’s largest specialty insurance market, to make the city its post-Brexit European hub. While Lloyd’s choice on...
Lloyd’s to Open EU Insurer in Brussels in Preparation for Brexit
Mar 30 2017 // Lloyd’s, the specialist insurance and reinsurance market, announced it will set up a European insurance company in Brussels in preparation for the UK’s exit from the European Union. The Brussels’...
UK at Risk of Exiting EU on ‘WTO Terms,’ Thereby Opening Legal Minefield
Mar 29 2017 // Failure to strike a trade deal with the European Union by a two-year deadline would force Britain to adopt World Trade Organization arrangements, bringing with it a host of new negotiations and complications. In a...
RMC Group to Open 2 London Offices, Affirming Commitment to UK Market
Mar 29 2017 // Naples, Fla.-based RMC Group, a consortium of insurance and actuarial consulting firms, has announced it plans to expand its international operations by opening two new offices in the United Kingdom. “Establishing a...
Update: UK Begins 2 Years of Complex Talks to Exit European Union
Mar 29 2017 // Prime Minister Theresa May set the U.K. on course for leaving the European Union in two years’ time, a divorce that will redefine the country’s relationship with its largest trading partner and end decades of...
Lloyd’s Shortlists Brussels or Luxembourg as EU HQ: Sources
Mar 28 2017 // Lloyd’s of London, the world’s largest specialty insurance market, will this week pick Brussels or Luxembourg for its planned European Union subsidiary, after Dublin had been an early favorite, sources...
London Keeps Mantle as #1 Finance Center Despite Brexit Uncertainties: Survey
Mar 27 2017 // London has retained the mantle as the world’s top financial center, though uncertainty about the implications of Britain’s vote to leave the European Union saw its lead over Asian rivals narrow, according to a...
UK Finance Firms ‘Not Crying Wolf’ in Concerns About Loss of EU Passports
Mar 24 2017 // One afternoon in mid-January, Prime Minister Theresa May walked into a meeting room in the Swiss resort of Davos to face Wall Street’s most powerful bankers. May had delivered her vision two days earlier for pulling...
PwC Settles Negligence Claim Over MF Global Collapse
Mar 24 2017 // PricewaterhouseCoopers LLP has settled a $3 billion negligence lawsuit over the October 2011 collapse of MF Global Holdings Ltd, the futures and commodities brokerage once run by former New Jersey governor Jon...
Update: EU Weighs Lowering Regulatory Requirements for Fintech Firms
Mar 23 2017 // The European Commission could introduce EU passporting and lower regulatory requirements for financial technology firms, moves that could undercut London’s leading position in “fintech” as Britain gets...
European Reinsurance Buying Continues to Increase But Demand for Cover Slows: A.M. Best
Mar 21 2017 // The 20 largest European cedants have continued to buy more reinsurance as soft market conditions prevail, although the pace at which retention ratios are falling has been more subdued, according to A.M. Best in a new...
Half of Global Insurance Premium Growth Tied to China: Allianz Research
Mar 21 2017 // Allianz Research projections show that total global premium income rose to a new record high of 3,650 billion euros ($3.9224 billion U.S. dollars) last year (excluding health insurance). In a year-on-year comparison, the...
