Ace Group today unveiled a new, independent cyber risk business unit designed to provide local specialist expertise across continental Europe.
Europe got a battering from natural catastrophes in 2013, resulting in the region clocking up the most loss events for the year across the globe.
Managing general agents have seen a resurgence of popularity in the UK, but has there been a similar renaissance across the continent? Tim Evershed investigates.
Research suggests that the use of aggregators in Europe is growing but can the continent replicate the price comparison success seen in the UK? Mark Sands investigates.
Generali has had its rating downgraded from A to A-.
Industry-wide insured losses on recent flooding in central and eastern Europe is expected to hit between $3.5bn (£2.4bn) and $4.5bn (£3bn), according to estimates by Swiss Re.
Zurich-based independent catastrophe data company Perils has released satellite-based 'flood footprints' for the ongoing floods in Central Europe which are affecting mainly Germany, Austria and the Czech Republic.
Insured damage from floods in the Czech Republic could cost 7.5bn crowns (€293m), according to the country’s insurers.
Catastrophe modelling firm Eqecat has warned the industry to expect significant damage from the floods that have inundated Germany, Austria and the Czech Republic over the past week.
The authorities in the Czech Republic have been forced to open several dams meaning river levels are still rising threatening the capital Prague.
Shares in Munich Re and Hannover Re fell around 3.5% to the bottom of pan-European FTSEurofirst 300 index as flooding in parts of Europe raises the prospect of hefty damage claims.
Authorities in Central Europe have declared states of emergency after severe flooding hit cities across the region.
Vienna Insurance Group increased profit before taxes by 5.2% to €159.4m in the first quarter of 2013.
The top five stories from www.insuranceinsight.com over the past seven days.
At least forty people were injured, and many more trapped, after an explosion in the Czech capital, Prague, on Monday morning.
A range of dynamics influenced mergers and acquisition activity across the CEE in 2012 but as Leonid Zubarev explains the CEE region remains attractive to investors.
Generali has reported an increase in premiums to € 70bn (+3.2%) with a 3.3% growth in property & casualty to €22.8bn.
Insurers branching out in Asia and other far reaches seem to be grabbing the headlines of late but as Francesca Nyman explains, there are still plenty of opportunities for insurers closer to home.
Insurers should brace themselves for an unprecedented level of indirect tax changes in Europe in 2013, intensifying the challenge of maintaining tax compliance.
Vienna Insurance Group has posted a 7% increase in group profit before taxes to €443.2m, in the first three quarters, driven by strong growth in Central and Eastern Europe.
JLT Re has expanded its team serving Central and Eastern Europe with the addition of Sergey Grazhdankin and Edmond Wodehouse as partners.
XL has added seven underwriters to its casualty team to meet the growing demand for liability solutions throughout Europe.
The Vienna Insurance Group has posted a 7% increase in profit for the first half of 2012 compared to 2011, helped by a 13% growth in profit from Central and Eastern Europe.
British insurer Aviva has agreed to sell its east European life insurance businesses to US rival Metlife.