Europe
Euro bounces back after four year low
The euro has today gained over 10 cents against the USD, taking it to 1.2986. The rise follows the euro hitting a 4 year low in June.
ABI: travel claims hit all time high
Figures released today by the Association of British Insurers highlight that the cost of falling ill abroad has hit a record high, as travel insurers helped a record number of people needing emergency medical treatment while overseas.
Craig back in the ABI hotseat as Kelly departure confirmed
The Association of British Insurers has confirmed that Kerrie Kelly is stepping down from her role as director general to return to Australia for personal reasons.
Axa-owned Bluefin strikes alliance with US broker
Axa-owned Bluefin has become an inaugral member of Equity Risk Partners Global, a worldwide alliance focused exclusively on the needs of the private equity sector.
KPMG unsurprised by US omission in Solvency II project
KPMG has welcomed Ceiops draft advice (Consultation Paper 81), published yesterday, on which jurisdictions’ regulatory regimes are to be considered within the first wave of Solvency II equivalence assessments.
SMEs cautious on economic recovery
More than half of UK SMEs believe a full economic recover is at least two years away.
Quinn faces massive claim after Burger King factory blaze
Quinn is set to face a significant claim after a factory used by fast food giant Burger King was destroyed by fire, it has emerged.
Medicals Direct buys London rival
North London-based medical services provider Medicals Direct Group has acquired rival firm Medibureau for an undisclosed sum.
Outgoing AIG chair: It is easier to replace me than CEO Benmosche
Harvey Golub has resigned as chairman of the AIG board after it emerged that he had had a difficult working relationship with CEO Bob Benmosche.
Axa GI FD takes new role
Axa UK has appointed Jean Drouffe as group finance and risk director as Ian Robinson, the incumbent director, takes up the role of global head of internal audit, at Axa Group, Paris
Willis, Munich Re and Allianz seal European windstorm deal
Perils AG, the Zurich-based company providing industry-wide European catastrophe insurance data, today announced that in the first six months of 2010 the total placements of insurance risk transactions based on Perils industry loss index exceeded $250m.
Singapore insurance market poses threat to London warns Marsh
The London market needs to think about how it is responding to the expanding Singapore market if it is going to be competitive with rates.
EC proposals 'unnecessary'
CMS Cameron McKenna has responded to the European Commission's proposals for insurance guarantee schemes that could lead to the break-up of the the Financial Services Compensation Scheme.
Irish public liability claims hit €33m
The total value of public liability awards made by the Irish Injuries Board in 2009 was €33m.
Sun Gard unveils new Solvency II technology
Technology firm Sun Gard has created a new enterprise risk management framework to support insurer’s Solvency II compliance initiatives.
Moody's cuts Portugal rating
Moody's Investor Service has cut Portugal's debt rating two notches to A1 citing rising debt and weak growth prospects, and said the country may need to come up with more austerity measures in its 2011 budget.
CEA concerned over EC insurance insolvency guarantee scheme
The CEA, the European insurance and reinsurance federation, has thrown its support behind the objective of protecting insurance policyholders and beneficiaries that underlies the package of measures the European Commission published yesterday.
Aon in $4.9bn swoop for outsourcing firm
Aon has agreed a deal to acquire HR consulting and outsourcing company Hewitt Associates for $4.9bn, consisting of 50% cash and 50% Aon stock.
XL looks to grow cyber liability account with JLT hire
XL Insurance has recruited Dawn Simmons as senior underwriter, professional lines for cyber and technology risks, based in Paris.
QBE names Europe boss
QBE has promoted Petko Tonchev to general manager for Central and Eastern Europe.
Insurance Insight’s weekly update now live
This latest initiative from the team behind the UK's market-leading general insurance weekly Post is dedicated to the European general insurance market and we will be providing news, analysis, comment and features focused on different territories.
Italian insurance premiums to rise 5% in 2010
Italian insurance premiums are expected to rise 5.5 % in 2010 and include a recovery in non-life insurance which suffered most in the recession, according to country's trade association the ANIA.
Insurance Insight – Business continuity management
Recent events across Europe this year have highlighted that as traditional business interruption policies often only trigger after first-party physical damage has occurred the need for good business continuity management is acute. Hugh Morris examines…
Law replaces Dilks as PwC insurance boss
PricewaterhouseCoopers has appointed David Law as its new global insurance leader.