Europe
US "elevated" up as Aon unveils 2010 Terrorism Threat Map
International counterterrorism efforts appear to be stifling the ability of terrorist groups to mount significant attacks on the scale of those of September 11, 2001, according to the 2010 Aon Terrorism Threat Map.
Rating agencies on the EC's radar as it aims to improve supervision
As part of its work on preventing a future financial crisis and strengthening the financial system, the European Commission has put forward amendments to the EU rules on credit rating agencies and launched a public consultation on reforming corporate…
Aegon raids Zurich for new UK CFO
Dutch insurer Aegon has appointed Zurich head of group audit Clare Bousfield as chief financial officer of of its UK arm.
PwC: 2010 M&A “hot beds” starting to emerge
The first quarter of 2010 has been “unremarkable” for European financial services activity but “hot beds” of activity are starting to emerge, PricewaterhouseCoopers has claimed.
Aviva appoints new Romania chief
Aviva has appointed Mihai Popescu as chief executive of Aviva Romania.
Profits dip for Allianz in growth European markets
Allianz in Central and Eastern Europe saw total premiums grow by 8 percent in the first quarter of 2010, reaching Euros 1.1 bn. Operating profit in the first quarter of 2010 amounted to Euros 66m, compared to Euros 78m euros in the same period of 2009.
Axa extends deal deadline
Axa Asia Pacific Holdings and National Australia Bank have today agreed to extend until 15 July an agreement relating to the conclusion of a proposed transaction between the parties.
Aspen recruits ex-AIG manager to head new operattion
Aspen Insurance Holdings has appointed Heinz Eggenberger as general manager of Aspen’s new Switzerland based-general insurance business.
Quinn told to enforce 3000% rate hikes to secure UK commercial re-entry
Quinn Insurance may have to increase rates on its UK commercial premiums by 3000% to secure regulatory approval to re-enter the market.
European windstorm estimate downgraded
Perils AG has today disclosed its second loss estimate for Windstorm Xynthia, which occurred at the end of February 2010.
NIG raids Zurich for new key accounts head
NIG has appointed Chris Woollam as head of key accounts.
Irish government to offload health insurer
The Irish Government has revealed it is to sell state-owned medical insurer VHI after injecting capital into the state owned firm.
Ageas reduces Southern European exposure with EUR 4.8bn sell off
Ageas has reported that between 10 May and 21 May it has sold additional Southern European government bonds for a total amount of EUR 4.8bn (at historical/amortized cost).
Aviva hires M&A director from Morgan Stanley
Aviva has appointed Jason Windsor as group strategy director, responsible for leading the strategy and M&A teams at Aviva.
Lloyd's insurer closes in on KGM
The largest privately owned Lloyd's insurer Canopius has emerged as a leading contender to acquire up-for-sale motor underwriter KGM.
Willis raids RSA for Russia and Middle East boss
Willis Group has appointed Scott Pickering CEO, Russia, Eastern Europe, the Middle East and South Africa, effective immediately.
PWC predicts M&A to pick up in Spanish financial services market
The rescue of CajaSur is likely to spark a wave of mergers in the Spanish financial services market as the Spanish Government pushes forward with its plans to merge those institutions to strengthen the market.
Irish regulator warns of post-crisis surpervisory scepticism
The Financial Regulator, Matthew Elderfield, has warned Irish insurers that he will be more interventionist, rather than wait for a market failure to manifest itself and then cautiously weigh up the costs and benefits of a response.
Lloyd's: Deepwater and Chilean earthquake bill could top $2bn
Lloyd’s announced today that it estimates its net claims before tax from the earthquake in Chile to be in the order of US$1.4bn.
CEA welcomes EU/US Japan Post Insurance talks
The European insurance and reinsurance federation, CEA, has welcomed joint EU and US effort to address the Japanese government’s preferential treatment of Japan Post Insurance.
Ex Zurich boss named Italian CEO
Francesco La Gioia has been appointed the new CEO of Helvetia Italy.
QBE Europe names new legal head
QBE Europe has appointed Esther Felton as head of legal for its European operations as part of an ongoing drive to develop its dedicated in-house legal capabilities.
Europ Assistance reports 44% hike in net profit
Europ Assistance Group has reported turnover in 2009 of €1.288bn, up by 6.6% compared with 2008 (+7.6% in constant euros).
Brit appoints Gibraltar boss
Brit Insurance has promoted Andrew Cunningham to head of office for its Gibraltar operations.