Europe
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The board of Quinn Insurance has withdrawn its objection to the petition for the appointment of joint administrators to the company.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%.
Dutch insurance giant outlines new reporting style
Aegon has unveiled its new reporting format that it claims better aligns with the way it manages its businesses.
Quinn urges a reopening of UK business after High Court adjournment
The Quinn Group has welcomed the adjournment of the High Court hearing today which may have put its insurance business into full administration.
Quinn Insurance administration hearing delayed
The full hearing of the Financial Regulator's action to put Quinn Insurance into full administration has been postponed.
Poland Central Bank governor in crash that killed Polish president
The governor of the Poland’s Central Bank is the latest major political figure to be found in the Polish plane crash that killed the country’s president in Russia this weekend.
Aviva boss admits its market share is too low
Aviva is seeking to expand in Turkey because its current business isn’t big enough, its local CEO has told Bloomberg.
Train crashes in Italy killing at least six
A train has derailed in northern Italy, killing at least six people and injuring 20 others, according to media reports.
XL targets Irish mid-market
XL Insurance has launched a Dublin-based underwriting operation for middle market casualty business.
Overall Xynthia loss put at Euros 1.28bn
Perils AG today disclosed its initial loss estimate for Windstorm Xynthia, which occurred at the end of February 2010.
RSA and Axa named as potential bidders for Quinn
Dutch insurance giant Eureko, RSA and Axa have been named among the 20 or so predators circling the Quinn Insurance group, according to reports in Ireland.
Allianz unveils new heads for Italy and Turkey in shake up
George Sartorel, currently CEO of Allianz Turkey, is poised to become new CEO of Allianz Italia.
Aviva outlines Asian direct motor plan
Aviva has outlined plans for its re-entry Singapore’s general insurance market and stated its intent on rolling out the business in key markets in Asia.
Ceiops chair outlines latest thoughts on GI proposals
In a letter to Jörgen Holmquist, director general, European Commission internal market and services directorate general, the Ceiop chair Gabriel Bernardino has submitted the last set of advice on the Solvency II level 2 implementing measures which have…
Aviva seeks Asian GI re-entry
Aviva is to re-enter the Asian general insurance market five years after selling its non-life operations there, the company has confirmed to Reuters.
Sean Quinn admits insurer is losing "an absolute fortune" due to uncertainty
The founder of the Quinn Group has admitted his insurance company is "losing an absolute fortune" in administration, with revenue dropping by as much as 80%.