Articles by Francesca Nyman
Achleitner departs Allianz to join Deutsche Bank board
Allianz CFO Paul Achleitner is leaving Allianz’s managing board at the end of May to join the supervisory board of Deutsche Bank.
Torus adds senior members to European P&C team
Insurer Torus has made two senior appointments with the aim of strengthening its European property and casualty platform.
Blaser returns to Allianz
German insurer Allianz has appointed former motor head Roman Blaser as chief underwriting officer of global automotive.
France and Italy assess flood damage
Torrential rains have caused widespread flooding in France and Italy during the first week of November after a low pressure system that developed over the Mediterranean Sea moved northwards, bringing high levels of precipitation.
Guernsey’s outlook “stable” despite global economic storms, says S&P
Ratings service Standard & Poor’s has reaffirmed its view of Guernsey’s financial and economic stability after giving the territory the highest rating possible against its newly revised technical scoring methodology.
Ferma lobbies Brazilian regulator on behalf of members
The Federation of European Risk Management Associations has sent a letter imploring the Brazilian insurance regulator SUSEP to limit the impact of regulations 225 and 232 on market capacity and security in the interest of business and insurance buyers.
Zurich names group treasurer
Zurich Financial Services Group has appointed Colm Holmes as group treasurer, with immediate effect.
Generali in profit despite €329m Greek bond losses
Assicurazioni Generali reported net impairment losses of €824m in the first nine months of 2011, €329m of which was related to Greek bonds.
RSA restructure aims to improve performance in Western Europe
RSA has made several changes to the operating structure and executive team of the group which will be effective from 1 January 2012.
Lockton goes live with e-accounts
London market broker Lockton has commenced trading with e-accounts, an initiative which enhances the electronic submission of accounting entries by brokers to support global business.
Towers Watson appoints Nordic head
Towers Watson, has named Christian Clemmensen as the leader of its non-life insurance consulting team in the Nordics region.
Greek exposure hits Allianz Q3 profits
Impairments of €931m from investments including Greek sovereign debt slashed Allianz’s profits for the third quarter, but the insurer said it is still on course to achieve profits of €8.0bn for 2011.
Bearing Point launches Solvency II reporting tool
Management and technology consultancy Bearing Point has launched Abacus – a pan-European reporting solution for Solvency II which they claim will resolve the reporting challenges facing insurers in the UK and Ireland.
Zurich announces Q3 net income increase
Zurich Financial Services today reported an increase in net income in the third quarter, but saw a decline in business operating profits.
Italian insurers liable for losses if sovereign defaults
Italian insurers’ may be prevented from passing losses incurred in a sovereign default onto policyholders, if the return on customer portfolios is below the minimum guaranteed, according to Fitch.
AIR flood model maps exposure at the street level
AIR’s inland flood model for Germany is the first to combine a global climate model and a localised numerical weather prediction model, giving users a unique ability to calculate exposure.
Eiopa begins consultation on complaints handling
The European Insurance and Occupational Pensions Authority has begun a public consultation on proposed guidelines on complaints-handling by Insurance Undertakings.
Swiss Re buys $130m cat bond for Atlantic hurricane and European windstorm
Swiss Re has obtained a further $130m in protection through the Successor X catastrophe bond programme for North Atlantic hurricane and European windstorm.
AM Best affirms Torus rating despite 1H11 losses
AM Best has affirmed the financial strength rating of A- (Excellent) and issuer credit ratings of "A-" Torus Insurance Europe, Torus Insurance UK and Torus Insurance Bermuda.
'Difficult environment' hits Munich Re’s Q3 profits
Munich Re has reported an 88% reduction in operating profits for the third quarter, down to €402m from €3.4bn year on year.
Proposal seeks to lift China's foreign motor insurer ban
China may be set to lift the exclusion on foreign insurers selling compulsory motor insurance in the region.
Howden acquires Accette’s Asian operations
Broker Howden has acquired the insurance operations of Accette Insurance Group in Hong Kong, Singapore, Thailand, Malaysia, and the Philippines.
Markel's combined ratio hits 105% due to nat cat losses
Markel Corporation’s combined ratio increased to 105% in the first nine months of 2011 due to heavy natural catastrophe losses.
CED expands its network in Wallonia with the takeover of Bureau Farcy et Cie
Loss adjuster in the Benelux and Spainish regions, CED has expanded its presence in Belgium with the takeover of Bureau Farcy et Cie sprl.