Europe
Axa reports 2% rise in underlying earnings
Axa has reported underlying earnings in 2011 of €3.9bn – a 2% rise on 2010.
Cooper Gay UK MGA undergoes an MBO
Cooper Gay & Co has rebranded its MGA platform, Oliva, as Globe Underwriting as part of a decision to refocus on international business.
Zurich sees 19% drop in GI profits after US$1bn cat losses in 2011
Zurich recorded a general insurance business operating profit of US$2.3bn in 2011, a decrease of US$403m or by 15% in US dollar terms and 19% on a local currency basis.
Zurich proposes changes to name and board
Zurich Financial Services Group is to propose a name change to reflect its strategic focus on insurance – Zurich Insurance Group Ltd.
JLT merges Spanish arm with local giant
JLT is to combine its existing Spanish retail broking business JLT-SIACI Espana SL with the business of March - Unipsa Correduria de Seguros, SAU (Unipsa), the fourth largest commercial insurance broker in Spain and a subsidiary of Banca March, to form…
New year European windstorm damage estimated at €267m
Perils has today disclosed an initial loss estimate for windstorm Andrea, which occurred in Western Europe from 4-5 January 2012, of €267m.
FATCA a significant operational challenge for European insurers
The proposed US Foreign Account Tax Compliance Act, published on 8 February, still remains a significant operational challenge for insurers, according to Ernst & Young.
Lloyd's takes $2.2bn hit for Thai floods
Lloyd's of London estimates its net claims from the flooding in Thailand last year to be $2.2bn.
Willis Re promotes Melia to CEO Willis Re International
Willis Re has appointed Tony Melia as chief executive officer of Willis Re International.
CEA welcomes EU-US trade insurance working group
The CEA and the American Council of Life Insurers have welcomed the establishment by the Transatlantic Economic Council of a high level working group on jobs and growth.
European insurers consider PE and hedge funds for Solvency II liabilities
Insurers may look to alternative asset classes, such as private equity and hedge funds, as Solvency II gets closer, according to a report.
Skiers rescued from European slopes face £16,000 bill
Skiers hurt or lost on the slopes in Europe could find themselves being presented with an average bill for £16,000 (€19,000) if a search and rescue team is called out to help them, according to research by Complete Ski.
Bernardino urges EC to agree Solvency II timeline
The chairman of the European Insurance and Occupational Pensions Authority has again expressed concern about the impact of Solvency II delays.
To ‘E’ or not to ‘E’ – that is the question?
As the European insurance industry slowly starts to emulate the UK and adopt e-trading, Simon Ronaldson asks how European insurers can learn from the experience of their more mature counterparts.
Countdown to EIS: Q&A with panel member Jose Manuel Dias da Fonseca
Josè Manuel Dias da Fonseca is chairman of Brokers Link and president of MDS Portugal and Brazil and will be taking part in a panel debate on the varying role of the broker across Europe at Insurance Strategy Europe taking place in Brussels on Wednesday…
Solvency delay poll result
Is insurers' biggest concern the delays that are occurring in Solvency II?
McGavick remains confident as XL reports $474.8m loss
XL chief executive officer Mike McGavick said his firm would not shy away from "frustrating" 2011 results, but asked yesterday for their broader context to be considered.
Eiopa chairman warns against further Solvency II delays
Gabriel Bernardino has urged the European Commission, the Parliament and the Council to agree on a clear timetable for Solvency II implementation.
Lonmar launches Medicare as a subsidiary company
Lonmar Global Risks has launched its Medicare International division as a subsidiary company, as part of the firm's strategy to establish managing general agents.
TomTom targets Europe with new telematics product
Dutch navigation systems maker TomTom NV is making a foray into the telematics market after teaming up to produce a device to track driver behaviour.
Transactor Poland expands Cracow office
Transactor Poland is leasing additional office space for up to 30 staff in Cracow following its successful launch in September 2011.
Torus recruits XL underwriting manager
Specialty insurer, Torus, has appointed former XL property underwriting manager Gilles Rousseau as a senior underwriter for its general property division.
Energy business warned to learn from past losses
Energy businesses need to learn from past major loss events in order to reduce the risk of significant property damage losses, broker Marsh has warned.
Brit appoints hull specialist from QBE
Brit Insurance has appointed industry specialist Bob Clarkson to be its senior marine hull underwriter, working closely with Simon Stonehouse, Anthony Forsyth and John Higham.