Europe
Fresh delay for Solvency II
Solvency II may not be implemented until 2015 – two years later than planned, according to a report in the Financial Times Deutschland.
Eurozone woes dictate global credit outlook
The intensification of the Eurozone crisis in H211 triggered an overall rise in the proportion of negative rating outlooks assigned by the agency, according to Fitch Rating’s latest bi-annual global credit outlook report.
Tawa, Skuld and Paraline complete Whittington deal
A consortium comprised of Tawa, Skuld, and Paraline Group has completed on the acquisition of Whittington Insurance Market.
Gcube increases offshore capacity to $100m
Renewables specialist Gcube has increased its underwriting capacity by $50m (€37.9m) for offshore renewable energy projects.
Perils estimates €300m windstorm Joachim loss
Independent Zurich-based firm, Perils, today disclosed an initial loss estimate of €300m for windstorm Joachim, which occurred in Western Europe from 15-17 December 2011.
Benevista launches international employee benefits index
Belgian consultancy firm, Benevista, has launched an international employee benefits index to raise awareness of the advantages of multinational pooling.
Tougher EMEA commercial insurance market conditions expected in 2012
Insurance rates for businesses with exposure to natural catastrophe risks and supply chain perils are expected to continue increasing in 2012 across Europe, the Middle East and Africa, according to a Marsh report.
Guernsey leads non-UK entities listed on LSE
Guernsey is home to more non-UK entities listed on the London Stock Exchange than any other jurisdiction globally, according to figures from the market authority.
Reinsurance rates in Spain fell at January renewal
Reinsurance rates in Spain fell at the January 1, 2012, renewal, despite the effects of the European financial situation on the primary market.
Tough conditions for EMEA commercial markets, Marsh warns
Insurance rates for businesses with exposure to natural catastrophe and supply chain risks are expected to keep increasing in 2012 across Europe, the Middle East and Africa, according to a report published today by Marsh.
Mercer to become sole shareholder of French broker
March and McLennan subsidiary, Mercer, is to become sole shareholder of French health and benefits broker, Repca, in order to strengthen its position in the French market place.
Aon acquires 80% of Spanish broker GDS
Aon Corporation has agreed to acquire 80% of Spanish insurance broker GDS from banks La Caixa and Banca March.
Vienna Group expects €560m profit for 2011
Vienna Insurance Group estimates that it will have profit before taxes of €560m in 2011, the best result in the group’s corporate history.
Solvency II run-off concerns still not met
The Solvency II exemption for run-off companies fails to meet the expectations of many in the industry, according to run-off specialist Ruxley Ventures.
Bermuda’s Premier Cox signs tax agreement with Turkey
Bermuda has signed a tax information exchange agreement with the government of the Republic of Turkey.
Tatton returns to market with insurance debt vehicle
The former chief executive of Irish health insurer VHI and founder of Vivas, Oliver Tattan, has launched a debt financing firm for European insurers.
McCammon is Liberty Mutual's new COO
Liberty Mutual Insurance Europe has appointed John McCammon, pictured, as its new chief operating officer.
Axa to use BAE systems fraud detector
Global insurer Axa has signed up to use BAE Systems claims fraud prevention service which it says will increase its efficiency and prevent honest customers from paying for fraudulent claims.
XL appoints Harris from Chartis as International P&C CEO
The insurance segment of XL Group has appointed Jason Harris as chief executive of its International property and casualty insurance business.
A sustainable future?
Solar powered cities and hydrogen run transport systems might be close to reality than people realise. Christian Müller explains why insurers have an integral role to play in this world and must be at the forefront of embracing innovation.
View from the Top: The Eurozone crisis is an enterprise risk issue
The Eurozone crisis and its potential impact on the insurance industry are an enterprise issue for risk managers and commercial customers - and not solely the domain of finance managers.
Axa SA and Ace believed to be vying for HSBC
Axa SA and Ace are believed to be in the final running for HSBC Holdings’s non-life insurance operations.
CNA Europe extends health products to include BI
CNA Insurance Company has has added property and business interruption coverage to its suite of products for the advanced medical technology sector.
Cost of Eurozone split is strong incentive to stay together
The disintegration of the Eurozone would be highly damaging both for countries that left and countries that remained in the union, according to an Altradius report.