Italy
Sandy topped 2012 losses while Italy saw record earthquake damage
A rare series of Italian earthquakes caused insured losses in excess of $1.6bn in 2012, the highest ever recorded in the country, according to Swiss Re.
Top five European news stories
The top five European stories from www.insurancensight.com over the past seven days.
Moody's confirms Generali debt ratings following planned restructure
Moody's has confirmed the 'Baa2' senior debt rating,'Baa3' subordinated debt rating and 'Ba1' preferred stock debt ratings of Assicurazioni Generali SpA, following its planned Italian organisation.
Italian lender to put insurance business on the chopping block
The director general of Italian lender Banca Carige has said it could sell its insurance businesses and property in a bid to plug an €800m euro hole in its capital base.
Your say: Brokers and insurers must work together
I was interested to read the lead story last week on Insurance Insight with a spotlight on Italy and its progress with e-commerce.
Generali Vienna's CEO to head Central and Eastern Europe
Generali has appointed Luciano Cirinà as new chief executive officer of GPH, its holding company for Central and Eastern Europe, following the buyout of its joint venture partner.
Generali posts 10.5% rise in operating profit
Generali posted a 10.5% increase in group wide operating profit to €4.22bn in 2012.
Top five European news stories
The top five European stories from www.insuranceinsight.com over the past seven days.
Italy's political shift could spur ecommerce
While the uncertain outcome of Italy’s February election may herald a worrying time for Eurozone politicians, the success of Beppe Grillo’s Five Stars Movement it could have a positive impact on the insurance market.
Italian insurers 'not interested' in professional indemnity cover
Italy’s new government should grasp the opportunity to 'revolutionise' the professional indemnity market, ensuring greater competition and increasing the availability of cover.
Generali presents new travel insurance app
Genertel, the italian online unit of Generali Group, and mobile operator TIM Italia, have presented a new app at the Mobile World Congress, Telecompaper reported.
DLG posts improved international COR after reserve releases
Direct Line Group saw a return to underwriting profit for the 2012 financial year as it posted a combined operating ratio of 99.2%.
DLG improves combined ratio to 99.2%
Direct Line Group has reported a 9.3% rise in operating profit for ongoing operations to £461.2m (2011: £421.9m) including an underwriting profit of £28.2m compared to a loss in 2011 of £72.3m and a combined operating ratio of 99.2% (2011: 101.8%).
Insurers must embrace mobile to bring "dramatic change" in acquisition ratios
As acquisition costs remain high insurers must invest in mobile and social media channels to keep and capture new customers, according to Capgemini’s World Insurance report.
Top five European news stories
The top five European news stories from www.insuranceinsight.com over the past seven days.
Generali bolstered by P&C growth in Germany and CEE countires
Generali has reported an increase in premiums to € 70bn (+3.2%) with a 3.3% growth in property & casualty to €22.8bn.
Analyst opinion divided on RSA dividend cut
News that RSA plans to cut its dividend has been met with a mixed reaction from the analyst community.
RSA's Brown: Commercial lines needs double-digit rate strength
RSA's chief executive of UK & Western Europe Adrian Brown has claimed the UK commercial market is "broadly underpriced by 10% to 15%".
RSA says Italy segment on track to break even in 2013
RSA posted 5% premium growth for the year ended December 2012, however its underwriting result was flat at €375m owing to adverse weather and earthquakes in Italy.
RSA's UK profit falls 37% as commercial losses take toll
RSA blamed adverse weather in the first half of 2012 and a weak marine and commercial liability performance on UK underwriting profit tumbling to £39m (2011: £62m) while the combined ratio was 98.2% (2011: 97.3%).
DLG’s international units “attractive to third parties”
Direct Line’s German and Italian businesses could prove attractive to a variety of third parties, according to Investec Securities.
Clements grows European footprint with Italsure acquisition
Insurance service provider Clements Worldwide has acquired UK-based expat insurer Italsure.
'Fully-valued' RSA on course for 95% COR
A poor claims experience on RSA's Motability book will see the insurer pushing for "significant rate increases" as it renegotiates the three-year contract this year.
Zurich and Generali linked with Spain's "bad bank"
Italy’s Generali and Switzerland’s Zurich will invest in a Spanish bank set up by the government to manage toxic property assets, according to Reuters.