Europe
Coface to get French state fund aid for partial IPO
The French state is likely to lend a helping hand to investment bank Natixis in selling its credit insurance unit according to newswire Reuters.
Aviva appoints new strategy director
Aviva France has appointed Pierre-Emmanuel Lefebvre as deputy director of strategy and development. Stanislas Belot is to replace him as secretary of the executive committee.
FSA playing hard ball over Quinn's UK return
The Financial Services Authority is reported to be playing hard ball over Quinn's re-entry into the UK insurance market.
Airline body slams lack of co-ordination over volcanic groundings
The International Air Transport Association has criticised European governments for what it claims is a "lack of leadership in handling airspace restrictions in light of the Icelandic volcano eruption". It urged a re-think of the decision-making process.
Axa reacts as watchdog blocks deal
The Australian Competition and Consumer Commission has today decided to oppose National Australia Bank's proposed acquisition of Axa Asia Pacific Holdings, and not to oppose AMP's proposed acquisition.
Quinn UK re-opening D-day tomorrow as individuals cited for woes
It has been claimed that the Financial Regulator is investigating improper conduct by individuals as well as at the failure of systems and internal controls which led to Quinn Insurance's solvency problems.
SRA clarifies its position on Quinn
The Solicitors Regulation Authority has advised UK-based solicitors with professional indemnity cover underwritten by Quinn Insurance against immediately seeking replacement insurance following the Irish High Court’s decision to appoint full-time…
Zurich CRO: New report should "stimulate, provoke and challenge"
The World Economic Forum has today published 'Rethinking Risk Management in Financial Services'.
View from Top - Europe: Facing up to global litigation risks
Embracing the benefits of a global supplier network and access to customers around the world carries opportunities and risks alike. While the risks around the global supply chain are frequently discussed, the dangers in regards to product liabilities…
Insurance Insight Interview: Anne-Sofia Hedin
Sweden has attracted a lot of attention recently, not least because of RSA's growth plans there and the opening of a new Lloyd's representative office. Lynn Rouse speaks to Markel's general manager in Sweden Anne-Sofia Hedin to get a better of idea why…
Air travel facing “greatest disruption since 9/11” – Civil Aviation Authority
A huge ash cloud from an Icelandic volcano continues to cause further air travel chaos across Europe, leaving hundreds of thousands of passengers stranded.
PwC: QIS5 draft specification provides “significant relief” for insurers
Consultants PricewaterhouseCooper has welcomed the European Commission’s decision to depart from Ceiops advice and ease the capital burden on insurers under the QIS5 draft.
Anglo Irish future depends on Quinn
Anglo Irish Bank will require immediate taxpayers' assistance, possibly to the tune of €1bn, if its deal to takeover the entire Quinn Group falls through, the Irish Independent has reported.
Quinn UK reopening moves a step closer
Quinn’s decision to back down on its opposition to the Financial Regulator’s appointment of administrators Grant Thornton to Quinn Insurance may help pave the way for the reopening of its UK business.
Quinn backs down on administration
The board of Quinn Insurance has withdrawn its objection to the petition for the appointment of joint administrators to the company.
Regulator welcomes High Court decision on Quinn Insurance
The Financial Regulator has welcomed the High Court's decision to confirm the appointment of a full time administrator at Quinn Insurance.
Allianz acclaimed for CSR stategy
For the tenth year in a row, Allianz has satisfied the requirements as a constituent of FTSE4Good.
New Irish Regulator challenges Quinn to "show me the money"
The new Financial Regulator Matthew Elderfield yesterday challenged Quinn to “show him the money”.
FTSE 100 reaches highest level since 2008
On Wednesday afternoon the FTSE 100 broke 5800 for the first time since 2008, fueling speculation that the UK is seeing a sustained upturn in its economy.
Quinn planned to reduce UK broker panel before Regulator stepped in
Quinn Insurance wrote to brokers outlining plans to grow its UK business days before the insurance group was banned from writing any new business there, according to reports this morning.
Quinn appoints financial restructuring firm
Talbot Hughes McKillop has been engaged by Quinn Group to provide financial restructuring services to the company, it announced today.
Fitch warns Austrian insurers of CEE exposures
The Austria's insurance sector is facing challenges relating to the industry's significant exposure to central and eastern Europe, according to a new report from Fitch Ratings.
Fortis to liquidate sub-holding to focus on insurance
As a first step towards simplifying its structure, Fortis today said it plans to liquidate its sub-holding Fortis Brussels SA/NV.
Munich Re reduces stake in Swiss insurer with €119m share sale
Munich Re has sold part of its stake in Swiss insurance group Helvetia Holdings, reducing its shareholding from approxoimately 8.2% to under 3%.