Europe
Balva policyholders warned to seek alternative cover before renewals
JLT Specialty has warned law firms insured by Balva to take swift action or risk being left in the lurch at renewals.
JLT: Balva-insured solicitors must act now
JLT Specialty has urged solicitors that are insured by Latvian insurer Balva to take action now, warning firms that wait until October to switch insurer are likely to face higher insurance premiums.
Guernsey reaps rewards for SII non-equivalence
Guernsey’s decision not to be a part of EU’s Solvency II has strengthened the country’s captive insurance sector – making it the largest in Europe today, according to a report by Timetric.
Romania brings financial services under single regulator
Romania is to bring the supervision of insurance, pensions and the stock exchange under the remit of a new financial watchdog.
"Stagnating" Austrian market challenging for insurers
Austrian insurers face a challenging domestic market but should benefit from their strength in Central Eastern and South-Eastern Europe, Fitch said.
Europe's credit risk remains high as US and Asia fall
Credit risk is still high in Europe but the outlook is favourable in emerging Asia and in North America, according to Coface.
Swiss Re aims to show impact of quake risk on Latam communities
The Swiss Re Foundation and the GEM Foundation have unveiled a three-year collaborative project to create the first picture of seismic risk in Latin America to incorporate social and economic factors.
New model can highlight political violence exposure, says Towers Watson
Professional services firm Towers Watson has unveiled its new Sunstone model, designed to give firms a better understanding of their terrorism exposure.
Guernsey and Hong Kong sign double taxation agreement
Guernsey has signed a double taxation arrangement with Hong Kong, taking the number of jurisdictions it has full DTAs in place with to seven.
Generali opens Global Corporate and Commercial unit
Operations have begun at Generali’s Global Corporate & Commercial business unit, a platform established to integrate insurance services for medium and large multinationals.
Top 5 European news stories
The top five European news stories from www.insuranceinsight.com over the past seven days.
Survey shows execs unclear on D&O risks
Regulatory investigations and enquiries, criminal penalties, and anti-corruption legislation, are among the top concerns for directors and officers, according to a new survey by broker Willis.
Insurance Insight Q+A: Frank Pinder, Global Options
Global Options president Frank Pinder speaks to Francesca Nyman about fraud, special investigative units and the US company’s European ambitions.
Insurers not spared Cyprus haircut
Cypriot insurance companies will be affected by a bail-in on deposits, contrary to previous reports.
German watchdog makes light of Solvency II delays
The postponement of Solvency II is not a major problem, according to Felix Hufeld, the head of German regulator BaFin’s Insurance Supervision Directorate.
Europe View from the Top: Frederik Wulff
The protective nature of the German insurance market has historically meant that local property and casualty insurers have been willing to provide generalised cover across a range of industries, ensuring profitability when claims increase, or demand…
Irish insurers expect significant growth in 2013
More than half of (re)insurance companies in Ireland experienced growth in 2012, according to a members' survey by the Dublin International Insurance and Management Association.
Insurance Europe welcomes EC paper on disaster insurance
Insurance Europe has welcomed the European Commission’s investigation into the availability of catastrophe insurance.
Lufthansa's fleet grounded
The German airline Lufthansa has cancelled all but 20 flights out of 1 700 as its ground staff staff strike over pay on Monday 22 April.
Mitsui promotes Graves to deputy head of claims
Mitsui Sumitomo at Lloyd’s has promoted Mark Graves to deputy head of claims.
Aviva to slash global workforce by 6%
British insurer Aviva will cut its workforce by 6% over the next six months in a bid to reduce expenses.
Italian criminal case against European Insurance Group directors closed
A Naples judge has officially closed the Italian criminal case against shareholders, directors and consultants of European Insurance Group.
Top five European news stories
The top five stories from www.insuranceinsight.com over the past seven days.
Talanx targets 10% increase in net income annually
German insurer Talanx is eying annual net income growth of 10% for the next three to five years, it's chairman Herbert Haas has said.