Europe
Indirect tax changes to hit European insurers in 2013
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 profits up 7% in first nine months
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.
Insurers face ‘unprecedented’ tax bill
Insurers face an unprecedented level of indirect tax charges in Europe and, therefore, a tougher challenge of maintaining tax compliance, according to Fiscal Reps.
Study could pave way for insuring CSS risks
A group of insurers claim to have found a way to remove barriers to the development of Carbon Capture and Storage technology in Europe, paving, paving the way for more effective action to prevent climate change.
Europe View from the Top: Sweden's art seriously underinsured
The Swedish fine art market has traditionally been insured by a few large, London-based insurers. But as the value of local artwork increases, huge swathes of Swedish art are grossly underinsured.
Blog: Why the FDI backlash?
Few concepts in recent times have divided Indian public opinion more than foreign direct investment.
Insurance Europe president calls for vital Solvency II solutions
The European insurance industry supports the goals of the forthcoming Solvency II regulatory regime but vital issues still need to be resolved, Insurance Europe’s president, Sergio Balbinot, told the Eiopa conference in Frankfurt today.
RSA appoints Scicluna as chairman
Global insurer RSA has announced the appointment of Martin Scicluna as its new chairman.
RSA names new chairman
Former Deloitte chairman Martin Scicluna is to succeed John Napier as chairman of RSA from 1 January.
Aviva unveils Mark Wilson as new CEO
Aviva has appointed former AIA chairman Mark Wilson as its new chief executive.
EC approves joint acquisition of HDI Poland
The European Commission has approved the joint acquisition of HDI Poland by Germany's Talanx and Japan's Meiji Yasuda Life Insurance, after concluding that the transaction would not significantly impede competition in the European Economic Area.
Solvency II uncertainty challenging EU credibility, says Bernardino
Gabriel Bernardino today called on EU politicians to give a "strong commitment" towards the implementation of Solvency II, in order to prompt a clear and credible timetable for delivering the regime.
Marsh's Moylan to head global surety practice
Marsh has appointed David Moylan as head of its newly created global surety practice.
CEGA supports UK stance on EHIC resistance in Spain
Claims management and assistance provider CEGA has spoken out in favour of UK insurers which are being asked to pay for British tourists' medical treatment in Spain.
EC urged to limit bank bail-in mechanism
Insurance Europe has called on the European Commission to limit the potential use of the proposed 'bail-in' mechanism, under which authorities could write down the claims of unsecured creditors of a failing credit institution.
Liberty to cut 285 Irish jobs
Liberty Insurance, the company which took over Quinn after it went into administration, is to make 285 Irish staff redundant.
Amice welcomes EC report on European mutuals
The Association of Mutual Insurers and Insurance Cooperatives in Europe welcomed the publication of the European Commission’s report on the current situation of mutual in Europe today.
Solvency II can be good for captives, Aon says
The Solvency II regulatory framework presents challenges for parent organisations and their captives structures, but it can also bring benefits, according to Markus Mende, Aon Risk Consulting's group managing director.
AMICE backs European Commission report on mutuals
The Association of Mutual Insurers and Insurance Cooperatives in Europe has praised a European Commission study into mutuals for highlighting their value in light of European economic instability and the financial crisis.
MMA to implement Cameleon software
French mutual insurance firm MMA Group will implement Cameleon Software’s configure, price, quote technology in a bid to help modernise its information systems and improve business agility.
Liberty to axe Irish jobs
Liberty Insurance is to shed 285 jobs in Irish offices on both sides of the border.
Talanx profit up 83% in first nine months
Talanx posted an 83% increase in operating profit to €1.3bn in its first results since its initial public offering, assisted by high investment income.
Zurich says German write-down is "isolated case" as BOP falls 34%
Zurich Insurance Group posted business operating profit of $733m for the third quarter, down 34% on the prior year after financial adjustments in its German general insurance portfolio.
French insurers urged to invest in SMEs to boost innovation
A report into France's declining industrial competitiveness proposes encouraging insurers to increase investments in small to medium sized enterprises.