Europe
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In our latest article Liam Morrissey, a partner at BTG Global Risk Partners, looks at the impact of piracy on the European insurance market.
Good news for marine insurers on piracy
Piracy on European vessels is not new but the way the Dutch authorities investigated and successfully prosecuted recently is. Liam Morrissey explains why this could start a string of convictions for pirates.
Allianz outlines Swiss disposal plan
Allianz Suisse has agreed to sell its subsidiaries Alba Allgemeine Versicherungs-Gesellschaft AG, Phenix Versicherungsgesellschaft AG and Phenix Lebensversicherungsgesellschaft AG to the Helvetia Group.
Munters takeover moves step closer
Disaster restoration specialist Munters Group is poised to be taken over after its two major shareholders agreed an offer from Alfa Laval AB is "not unfair".
BIS 2010: CEBR warns of “sluggish” insurance market
The economic landscape following the credit crunch will cause growth in the European insurance market to slow, the Centre for Economics and Business Research has claimed.
THB makes Dutch appointment
THB has expanded its operation in Amsterdam with the appointment of Peter de Kersaint Giraudeau.
Goldman Sachs in dual Quinn role
Goldman Sachs is buying discounted Quinn Group debt on behalf of clients while simultaneously advising the Irish government on Anglo Irish Bank's Quinn dealings.
Ceiops welcomes Euro-super regulator news
The CESR, Committee of European Banking Supervisors, and Committee of European Insurance Occupational Pensions Supervisors have welcomed today’s decision of the European Parliament to endorse the EU financial supervision reform package.
US Re scopes out Danish terrorism risk market
The European subsidiary of US Re Corporation, international reinsurance brokers, has been selected by Finanstilsynet, the Danish financial Supervisory Authority, to conduct a study of terrorism risk reinsurance capacity in the Danish market.
BIS 2010: Insurers warned over the next wave of "unknown unknowns"
XL Insurance regional operating officer, UK Ireland and Bermuda, Donal Kelly, urged the insurance industry to keep abreast of changing risks.
BIS 2010: XL head compares insurers to doctors who smoke
In highlighting the importance for clients to understand an insurers' risk, Nigel Bamber, XL Insurance head of client relationship management UK, asked today's British Insurance Summit: "Is the insurer like a doctor who smokes?"
BIS 2010: Fortis issues SII standard model warning
Fortis has warned insurers against using a standard formula to set capital requirements for Solvency II.
BIS 2010: Willis CEO warns that risks will need to be "recalibrated"
The insurance industry needs to ensure that it produces new products and services that are relevant to the new environment of corporate shocks and catastrophes.
BIS 2010: M&A activity predicted to increase as Solvency II takes hold
Pressures arising from compliance with Solvency II may instigate a wave of M&A activity, a panel of leading industry figures has predicted.
European super regulator rules passed
Rules passed today which create three new European Supervisory Authorities and a European Systemic Risk Board keep national regulators at the fore whilst ensuring a common rule book to prevent future economic crises, Kay Swinburne MEP, European…
BIS 2010: Aviva CRO highlights Hodges role in promoting risk management
Aviva UK chief executive officer Mark Hodges made improving the firm’s risk management a top priority after taking up the role, according to the insurer’s group chief risk officer Robin Spencer.
BIS 2010: Baugh claims UK insurance industry lacks cohesive voice
The UK insurance industry may fail to get its voice heard at home and on an international stage because it is too “fractured”.
Standard & Poor’s withdraws rating for Swedish insurer
Swedish non-life insurer Moderna has had its Standard & Poor’s long-term financial strength A rating withdrawn after its assets were transferred to another insurer.
Insurers lined up to buy Danish bank
A consortium - including insurers - has agreed a deal to buy Danish bank FIH Erhvervsbank A/S for DKK 5.0bn.
Ferma backs law directive
Good risk management and internal control systems help companies go "faster, further and more safely" and businesses should not be afraid of the 8th European Company Law Directive.
Aon warns food industry of walking "blindly" into China media storm
Businesses in the EU involved with importing or selling food and beverage products from China are walking, often blindly, into a potential legal and media storm, according to Aon.
Swiss Re: insurance can help reduce climate risk impact by up to 90%
Innovative insurance solutions hold the key to driving climate adaptation initiatives in the developing world and securing the development prospects of communities threatened by rising climate risks.
HFW opens Geneva office
Following recent investment in Asia-Pacific and the Middle East, Holman Fenwick Willan is set to open an office in Geneva in early October.
MDS acquires Brazilian broker
Iberian and Latin American insurance broking group MDS Holdings has acquired broker Quorum Saude, Seguros e Previdência.