Europe
Marsh: mixed signals for 2012 energy insurance market
Excess capacity and continuing competition among insurers means that buying conditions remain favourable for many energy firms in the final quarter of 2011, but a possible change could be on the horizon for 2012.
Insurance Insight Update - 11 November
Insurance Insight’s weekly update is live with an article the biggest man-made disaster in Cypriot history; and a blog on why more education is needed in the Middle East.
Ace launches multi-national practice in Continental Europe
Ace has created a new practice designed to meet the needs of multinational companies that are based or operating in Continental European countries.
Zurich announces Q3 net income increase
Zurich Financial Services today reported an increase in net income in the third quarter, but saw a decline in business operating profits.
Eiopa begins consultation on complaints handling
The European Insurance and Occupational Pensions Authority has begun a public consultation on proposed guidelines on complaints-handling by Insurance Undertakings.
Swiss Re buys $130m cat bond for Atlantic hurricane and European windstorm
Swiss Re has obtained a further $130m in protection through the Successor X catastrophe bond programme for North Atlantic hurricane and European windstorm.
Insurers cannot underestimate work needed to comply with Solvency II
PwC has commented on today's launch by EIOPA of a public consultation on its revised proposals for reporting under Solvency II.
EIOPA launches public consultation on Solvency II
In order to facilitate the preparatory work of insurance and reinsurance undertakings for Solvency II, the European Insurance and Occupational Pensions Authority has opened a public consultation with regards to supervisory reporting & public disclosure…
Markel's combined ratio hits 105% due to nat cat losses
Markel Corporation’s combined ratio increased to 105% in the first nine months of 2011 due to heavy natural catastrophe losses.
BWise and LiBi to join forces in Israel
BWise, governance, risk and compliancemanagement software solutions specialist, has entered into a partnership agreement with business intelligence firm LiBi Software Technology in Israel.
XL launches D&O cover for 21st Century
XL Group has introduced new policy wording designed to protect directors and officer from 21st Century risks.
European conditions challenging for JLT
Jardine Lloyd Thompson Group has reported it remains on track to achieve its objectives and deliver year-on-year financial progress.
Now Health introduces currency flexibility for Europe
Private medical insurance provider Now Health International, has introduced a flexible currency facility for customers in Europe, the Americas, Africa and Asia Pacific.
Q3 market movements take toll on insurers' capital adequacy, S&P says
Recent financial developments, combined with marking-to-market of insurers' investments, has depleted European insurers' balance sheets, according to a report by Standard and Poor's.
Natcats and the insurance sector
The European Union is currently consulting on natural catastrophes. Vic Wyman reports on the part the insurance industry has to play.
Q&A: Jorge Luzzi
Jorge Luzzi, president of Ferma and corporate risk management director at Pirelli & C SpA spoke to Francesca Nyman about what risk managers want from insurers, the current economic climate and what he aim to achieve in his two year presidency.
The challenge of life sciences
Mid-sized life sciences firms offer an attractive opportunity for insurers in Europe with many entering the market. Yet as Francesca Nyman reports litigation and legislation make this a challenging market too.
Insurance Insight November
Insurance Insight November is now live with an article on The European Commission’s consultation on natural catastrophes; a look the challenges the life sciences sector is facing; and an interview with Jorge Luzzi, president of Ferma.
ELD poll result
Will changes to the ELD slow market development?
EU & US conduct tests for cyber attacks in 'Cyber Atlantic 2011'
The first test of trans-Atlantic responses to cyber incidents, including cyber attacks, has taken place in Brussels.
ESMA, EBA, and EIOPA appoint members of joint board of appeal
The three European Supervisory Authorities, ESMA, EBA, and EIOPA respectively, today appointed members and alternates of their joint board of appeal.
Reaction to proposed ELD extension
The CEA claims the proposed extension to the Environmental Liability Directive will be damaging for European insurers. Francesca Nyman asks the market for its initial reaction to the proposal.
CNA Europe forms new pan-European Underwriting Committee
CNA Europe has appointed Rhonda Buege to the newly-created role of underwriting officer for HealthPro, its specialist offering to the healthcare industry.
US expected to achieve Solvency II equivalence
The US solvency regime for insurers is expected to achieve equivalence with the European Union's Solvency II requirements according to Fitch Ratings.