Europe
Catlin sees 35% increase in European GWP in H1
Catlin reported a 23% increase in gross written premiums from its international business in the first six months of 2012, rising to €577m from €471m in the first half of 2011.
Paul Summers appointed global CEO of Aon Benfield Fac
Paul Summers is to become global chief executive of Aon Benfield Fac with immediate effect.
Ageas posts 86% rise in non-life profit after strong Q2
Belgian insurer Ageas improved across all segments to post net insurance profit of €303m in the first six months of 2012, up from €111m in the first half of 2011.
D&O may fall short of covering directors for cyber risks
The expanding online universe has introduced new financial risks that may not be covered under general and professional liability insurance, including standard directors' and officers' policies, Willis Group Holdings has warned.
Milliman launches Solvency II reporting tool for insurers
Global consulting firm Milliman is launching a suite of Solvency II analysis and reporting tools designed to meet the demands of European insurers and reinsurers.
Axa posts fall in net income in H1
French insurance group Axa saw net income fall to €2.6bn from €4.0bn in the first half of 2012 owing to a non-repeat of the exceptional gains on disposals in 2011.
Allianz Group 'robust' despite lower operating profit in P&C
Allianz Group has posted revenues of €25.2bn in the second quarter of 2012, up 2.5%, or €24.6bn, on the same period in 2011.
Insurers must act on Eiopa's Solvency II reporting guidelines
Guidelines released last month remove uncertainties surrounding Solvency II legislation, but, as David Foster reports, the reporting requirements remain demanding.
Italian quakes and UK floods hit RSA's H1 result
RSA continues to expect overseas operations to be 70% of group premiums by 2015, following strong performances in its international segments in the first half.
Vienna Insurance completes merger of Polish insurers
Vienna Insurance Group has completed the merger of non-life insurers InterRisk and PZM, concentrating its market presence in the core Polish market.
Insurance Europe 'disappointed' with IAIS over systemic risk methodology
Insurance Europe criticised the International Association of Insurance Supervisors' methodology for identifying systemically important insurers today in its response to a consultation paper by the IAIS.
Top five European news stories
The top five European stories from www.insuranceinsight.com over the past seven days.
Willis opens Spanish super-yacht broker
Willis Group Holdings has outlined plans to open a super-yacht insurance broking office in Barcelona.
Liberty Mutual launches risk management tool for policyholders
Liberty Mutual Insurance has launched a risk management website to provide best practice risk engineering guidance to commercial policyholders.
Guernsey may foot the bill for £2.6m payment scam
Guernsey's government may be unable to recover £2.6m after falling victim to a payment fraud, according to the island's deputy chief minister.
French court ruling could expose insurers to €16bn claims
French insurers and banks that own large insurance subsidiaries could be exposed to claims of up to €16bn from policyholders following a decision by the French Council of State.
Hiscox UK falters while group profit soars
Hiscox returned an interim pre-tax profit of £125.8m (H1 2011: loss £85.6m), following a more benign catastrophe season compared with the previous 12 months.
Iran expands tanker insurance in face of sanctions
Iran has promised to insure shipments of its oil to include Iranian and foreign tankers in the latest bid to circumvent insurance sanctions, AFP reported on Saturday.
Markel promotes House in speciality division
Markel International has promoted Guy House to underwriter, covering property and open market in the firm's speciality division.
1350 jobs at risk as ERGO 'streamlines' sales
Munich Re-owned primary insurer ERGO said today it plans to cut up to 700 salaried sales posts as part of a "quality and efficiency plan" intended to streamline sales.
Brit improves H1 COR to 93.3%
Brit Group posted a combined ratio of 93.3% for the first sixth months of 2012, down from 104.8% for the first half of 2011, reflecting benign cat activity during the period.
Harrison takes EMEA role at Towers Watson
Global professional services company Towers Watson has appointed Keith Harrison to head up its reinsurance brokerage business in the Europe, Middle East and Africa region, following the appointment of his predecessor, Ross Howard, as global leader of its…
Insurers failing to tailor cyber products to European risks
Insurers are failing to provide cyber products tailored to the risks faced by European clients, according to CFC Underwriting's Graeme Newman.
Making flood prevention cost effective
Flooding now affects more people than any other natural catastrophe. Jens Mehlhorn explains how tried and tested methodologies for determining the cost effectiveness of measures show that prevention is better than cure.