Europe
Insurers less exposed than banks to potential Greek euro exit
Insurance companies are less exposed than banks to contagion risk triggered by a Greek exit from the Eurozone because of an ability to share losses with policyholders and a lower reliance on short-term funding, according to Fitch.
Insurers change approach to calculating capital ahead of Solvency II
As European insurers continue their Solvency II preparations many are changing their approach to calculating capital adequacy requirements, according to Deloitte.
European insurers able to withstand orderly Greek exit from euro
Europe's insurance industry should be able to absorb shocks arising from a hypothetical Greek exit from the euro, provided such an exit were orderly, Fitch said in a new report.
Lloyd’s chief calls for Eurozone fiscal unity
Lloyd's of London chief executive Richard Ward has stressed the importance of fiscal unity throughout the Eurozone after Greece voted to remain in the euro.
Fitch affirms Rossiya ratings after restoration of motor licence
Fitch Ratings has affirmed OJSC Rossiya Insurance Company's insurer financial strength at 'B-' and national IFS rating at 'BB-' and removed them from rating watch negative.
Talanx may rethink July IPO owing to market volatility
German insurance group Talanx is thought to be considering postponing its initial public offering slated for July, as market volatility continues following Greece's election, Reuters reported.
FM Global launches free nat cat toolkit
Commercial property insurer FM Global has launched an online resource for natural hazard planning to help businesses prepare for and protect against the growing risk of catastrophes.
Ferma plans formal certificate for European risk managers
The Federation of European Risk Management Associations is taking the first steps towards a pan-European certificate of professional competence for risk managers.
New policy offers 'affordable' medical tourism
A new health insurance product claims to allow UK citizens to take advantage of the high-quality healthcare enjoyed by their European neighbours at significantly lower cost than most private medical insurance policies.
European insurers remain well capitalised, says Eiopa
The majority of European insurers are well capitalised in terms of current Solvency regulations, although Solvency capital ratios are starting to decrease slightly, according to the European Insurance and Occupational Pensions Authority.
Data deployment key to improving claims performance and cutting fraud
Smart technology and data deployment can improve claims performance and cut £2bn worth of fraud, according to the Insurance Claims Management report from Clear Path Analysis.
Aon named risk management and insurance advisor to ISS
Facility services provider ISS has appointed Aon Risk Solutions to provide global risk management services and insurance advice.
Resource provides global view of health insurance for low-income families
A new resource capturing more than 100 health insurance programmes designed for low-income populations in developing countries has been launched.
Oil markets blasé as sanctions force Iran's Asian buyers to cease imports
Iran's Asian oil buyers look set to halt imports when EU sanctions come in on 1 July, with potential repercussions for the global oil market.
Riverstone Group to acquire Brit Insurance Limited
Brit Group has agreed the sale of its FSA-regulated insurance company, Brit Insurance Limited, to Riverstone Group.
'Modest recovery' on the horizon for brokers globally
The outlook for the global insurance brokerage sector remains stable, underpinned by expectations for a modest economic recovery in 2012-2013, Moody's said in its recent Global Insurance Brokerage Outlook.
AIRMIC 2012: Risk managers want outcomes-based policies
Risk managers want policies based on outcomes not perils, according to Prudential's group insurance risk manager Helen Hayden.
Chartis increases property capacity to $1.5bn
Chartis, the property and casualty arm of US insurer AIG, has increased its commercial property capacity to $1.5bn per risk globally.
Telematics: the data challenges
The gender ruling is only six months from enforcement, and Catherine Barton asks whether telematics and its data capture can be a real solution.
German financial watchdog on the hunt for new insurance head
Germany's financial regulator Bafin is seeking a new head of insurance supervision following Gabriele Hahn's move to a new role after only 18 months in the job.
Willis appoints Asia FINEX head
Willis has appointed Tony Mitchell as regional head of the firm's financial, executive risk and professional liability business in Asia-Pacific, in response to the increasing exposures faced by executives of companies expanding globally.
Nordic insurers will need bigger investment adjustments under Solvency II
Nordic insurers will need to make bigger adjustments to investment portfolios because of the likely requirements of Solvency II, according to Fitch.
Nordic insurers urged to make bigger adjustments to investment portfolios
Nordic insurers need to make bigger adjustments to their investment portfolios because of the likely requirements of Solvency II.
Insurance industry struggles to respond to new technological threats
Leading organisations across Europe are failing to integrate cyber threats fully into their risk management strategies, despite mounting concerns about cyber risk.