European shares held steady on Thursday, as strong earnings from insurers provided ballast and hopes that the European Central Bank could show readiness to buy bonds offset worries about slow economic growth in the region. The STOXX Europe 600 Insurance …
Major European banks have limited their losses on Greek bonds to just over €5 billion [$7.2 billion] after negotiating a 21 percent haircut on their debt holdings as part of a rescue plan. France’s BNP Paribas is set to take …
Aon Risk Solutions, the global risk management and insurance brokerage business of Aon Corp., announced three senior-level appointments for Aon GRIP Solutions in Europe, the Middle East and Africa. Aon GRIP Solutions “provides insurance carriers with analytical insights regarding their …
Pressure on Europe’s banks to raise more capital increased on Monday after last week’s stress tests revealed their holdings of European sovereign debt, with likely losses on Greek bonds a growing concern. A health check of 90 European banks unveiled …
PERILS, the independent Zurich-based company that provides industry-wide catastrophe insurance data, announced that it has extended its market coverage to include Norway and Sweden. The two Nordic markets are in addition to the nine territories already covered by PERILS: Belgium, …
Standard & Poor’s hit back at criticism over the credit rating agencies’ role in the euro zone debt crisis on Thursday, with its German operations head saying rating agencies would lose credibility if they “kept silent”. “We risk our credibility …
The International Monetary Fund joined Germany on Wednesday in pushing for private sector investors [presumably including the EU’s insurers] to help cut Greece’s debt mountain as the euro zone sought to break an impasse on how and when to grant …
A credit rating downgrade to Portugal [by Moody’s Investors Services] added to fears Europe’s banks face heavy euro zone losses if a private sector plan to help Greece comes unstuck, piling pressure on creditors meeting on Wednesday. The Institute of …
The second stress test of European insurers, conducted by the European Insurance and Occupational Pensions Authority (EIOPA), has confirmed “the robustness of the European insurance market and its ability to withstand severe stress scenarios,” notes the European (re)insurance federation (CEA). …
According to a new study from Swiss Re, “Europe is witnessing a dramatic increase in property damage as a result of soil subsidence.” A new loss model developed by Swiss Re and the Swiss Federal Institute of Technology (ETH Zurich), …
