Europe
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.
ING to float US stake for $1.5bn
Dutch banking giant ING has filed a preliminary prospectus with the US Securities and Exchange Commission for the initial public offering of its US insurance and investment business.
Global insurance rates climbed in first quarter, according to Marsh
Global insurance rates climbed 0.3% in the first quarter of 2013 bolstered by the US market, continuing an 18 month trend, according to Marsh’s latest global insurance market quarterly briefing.
Mutuals hit harder by some cat losses, says Willis Re director
While many of the claims issues arising from catastrophe losses are common to the insurance industry, some are more acutely felt by mutual insurers, Willis Re’s technical claims director has warned.
Towers Watson calls for executive pay to reflect ERM
A third of global risk executives are unhappy with links between risk management and their executive pay policies but have no plans to change their approach, according to a study by Towers Watson.
Post magazine – 18 April 2013
The latest edition of Post magazine is now available to subscribers as a digital and interactive e-book.
Tawa completes KX sale
Run-off specialist Tawa has completed the sale of 100% of its shares in KX Reinsurance Company to Catalina Holdings (Bermuda) following regulatory approval.
Insurers not yet in the clear over horsemeat scandal as claims emerge
Contaminated meat claims linked with the horsemeat scandal are now reaching insurers despite clauses that limit liability within product recall policies.
Balva’s UK ban raises questions over SRA list of qualifying PI insurers
A move by the Latvian regulator to suspend the passporting rights of Riga-based insurer Balva has reignited broker concerns about the presence of unrated insurance companies operating in the UK market.
Willis secures twelve month extention in Gras Savoye deal
Willis Group has extended the exercise date of its call option to acquire full ownership of French insurance broker Gras Savoye by one year.
Ace appoints environmental head for Germanic region
Ace Group has appointed of Udo Wegerhoff as environmental insurance manager for its Germanic region as it grows its environmental offering across Continental Europe.
Chubb Europe reshuffles financial lines team
Chubb Insurance Company of Europe unveiled two senior finanical lines appointments today.
Latvian watchdog suspends all Balva licences
Latvia‘s Financial and Capital Market Commission has temporarily suspended all licenses issued to AAS Balva.