Vienna Insurance Group AG, Austria’s biggest insurer, said Chief Executive Officer Peter Hagen will leave the company over strategic differences later this month, more than two years before the end of his term. The company named Elisabeth Stadler as a …
Vienna Insurance Group AG wrote down debt of Austrian “bad bank” Heta Asset Resolution AG by 80 million euros ($85 million), a larger amount than expected, causing the firm to miss estimates for profit last year. The insurer, based in …
According to catastrophe modeling firm AIR Worldwide, Southeast Europe is experiencing record levels of flooding after three months’ worth of rain fell in just three days. The report cited the “many landslides” that have covered roads, homes, and villages, as …
Swiss Re has estimated that its claims burden from recent flooding in central and Eastern Europe is approximately $300 million, net of retrocession and before tax. Industry-wide insured losses are estimated to be between $3.5 and $4.5 billion. The flooding …
Markel International has made a move to start writing business in Germany through a joint venture with Anglo Underwriting. With Markel’s support, Anglo’s primary focus will be to increase opportunities in specialty and private lines. As part of the focus …
A virulent form of E.coli bacteria blamed on infected cucumbers from Spain has killed 13 people in Germany and sickened 300, health officials said on Sunday while warning people not to eat suspect vegetables. European health experts Saturday said the …
Floods, Windstorms, Droughts, Heat Waves and Wildfires There was a time in the not-so-distant past when events such as these would have been considered somewhat unusual in Europe. But these days, extreme weather events are becoming a much more common …
Two large privately-held and independent insurance brokers, U.S.-based Lockton and Germany’s Funk Group, said they will expand their risk management service alliance. Through the alliance, Funk will provide risk management support for Lockton clients in Germany, Switzerland, Austria and some …
Insurance brokers Lockton and Germany’s Funk Group announced that they will expand their risk management service alliance. “Through the alliance, Funk will provide risk management support for Lockton clients in Germany, Switzerland, Austria and some Eastern European countries,” said the …
Swiss Re has issued a bulletin noting that it is “well placed for the upcoming 2011 renewal negotiations with its European clients.” The talks, which begin this week in the German resort of Baden-Baden, bring together brokers and reinsurers (and …
