Europe
Q2 ILS issuance exceeded $2bn, Aon Benfield study shows
Catastrophe bond issuance for the second quarter of 2012 reached $2.1bn as investors continued to deploy capital into the sector, a report by Aon Benfield Securities revealed.
Groupama to sell Polish arm to Generali JV
Groupama has agreed to sell its Polish operation Proama to Generali PPF Holding, a joint venture between Italy-based Generali and central European investment group PPF.
Fitch affirms Generali's 'A-' IFS rating
Fitch has affirmed Assicurazioni Generali SpA's insurer financial strength rating at 'A-' and long-term issuer default rating at 'BBB+' on account of its solid operating performance. The outlook for both ratings is negative.
Eiopa launches registered insurer database
The European Insurance and Occupational Pensions Authority has published a database of registered financial institutions in a bid to improve public awareness.
Lancashire reports hike in profit to $102.6m
Lancashire has reported a 35.5% increase in gross written premium to $514.8m in the first half of the year, compared with $379.8m in the same period in 2011, reporting growth across three of its four main classes of business.
Half of CEOs responsible for risk management as terrorism tops concerns
The chief executive or chief operating officer has formal responsibility for risk management at 50% of European companies, according to a new survey which found that companies feel underprepared for terrorism and political violence risks.
Single accounting framework is an 'ideal' that would take 'years'
The benefits of a single set of accounting standards have long been debated, but a recent report has revealed a surge in insurer support. Francesca Nyman considers the feasibility of this goal.
Top five European news stories
The top five European stories from www.insuranceinsight.com over the past seven days.
Aria Assistance appoints director of medical services
Dr Jude McSharry has been named director of medical services at Aria Assistance, the new independent company formed after the management buyout of Europ Assistance UK & Ireland.
RSA appoints construction and engineering leader for GSL
RSA has appointed Clive Harrington-Rutterford as global portfolio leader for the firm's construction and engineering business.
SSP appoints Paul Webb as head of delivery
Global technology provider SSP has appointed Paul Webb to the position of head of delivery for its insurer division.
Catastrophe reinsurance market nears strategic shift
The catastrophe reinsurance market may be on the cusp of a strategic shift, with third-party capital providers set to take on increasing amounts of peak catastrophe risk in the future.
London company market aims to bring quicker processing to Europe and Asia
International Underwriting Association members have seen premium processing times cut from weeks to just days under a new initiative which will be rolled out to Europe and Asia.
Willis restructures international operations
Willis International has reorganised its Asia Pacific, Middle East and Africa operations amid a management resuffle.
Allianz champions sustainability with 'first' ESG advisory board
Allianz has established an advisory board for company-wide environmental, social and governance issues which it says is the first of its kind.
Rumours of Solvency II M&A greatly exaggerated
Solvency II will not result in market consolidation, at least not in the near term, according to Ovum's senior analyst for insurance technology.
Travel cancellation insurance must be opt-in, ECJ rules
Online travel agents can no longer automatically include travel cancellation insurance in the price of plane tickets bought on the internet, following a ruling by the European Court of Justice.
IMD2 - a level playing field?
Legislative proposals released this month by the European Commission for the Insurance Mediation Directive have met with mixed reviews. Victor Fornasier asks whether they will finally create a level playing field.
European Union liability trends raise 'supra-national' challenges
UK Prime Minister David Cameron has hinted that he wants to rein in Europe's legislative power. Ralph Savage looks at the effects it is having on European insurers.
Risk from traditional reinsurance not systemic, IAIS says
Traditional reinsurance is unlikely to cause, or amplify, systemic risk, according to the International Association of Insurance Supervisors.
Coface's Charbonnel promoted to chief operating officer
Cyrille Charbonnel has been appointed group chief operating officer for Coface, a newly created position at the credit insurer.
RSA flood losses hit £50m
RSA has been hit with an estimated net loss of £40m across its UK household, motor and commercial property books for June as a result of the wet weather.
JLT and Am Trust Europe join forces to offer PI service
Broker JLT has launched a professional indemnity insurance service for sole practitioners through an exclusive relationship with insurer Am Trust Europe.
70% of insurers see Asia as a 'very important' area for growth
Most CEOs recognise the importance of Asia, but concerns remain about regulation and the macro-economic environment.