Europe
Belgian insurer signs deal to help achieve solvency II compliance
Belgian insurance company Mercator has taken Barrie & Hibbert's Economic Scenario Generator. The main application of the ESG will be economic capital management and assistance in ALM decisions.
PZU settlement and Polish exit adds €1.1bn to Eureko bottom line
Gross written premiums increased slightly over 2009 by 2% to €19.6bn against €19.3bn in 2008.
Aegis London outlines plans for Prague
The group will be holding its third annual European Energy Conference at the Inter Continental Praha hotel in Prague from the 14-15 April, 2010.
Ceiops stress test highlights industry resolve in the face of crises
Ceiops has declared that in an adverse scenario, which mirrored the development of capital markets between the end of September 2008 and the end of September 2009, its recent exercise resulted only in a marginal impact of a loss of 10bn euro,…
LIU Europe expands into Birmingham
Liberty International Underwriters Europe has expanded its regional operation into Birmingham with the appointment of Dave Canning as regional senior underwriter.
Hiscox faces £100m Cat losses
Hiscox has estimated that it faces £100m worth of claims as a result of the Chilean earthquake and the European windstorm Xynthia.
Spotlight on Spain - The Spanish direct insurance market
At its traditionalist heart, the insurance industry has always existed on the tried and tested intermediary-based distribution channel, with the broker or agent, a champion of the policyholder, working tirelessly to find the consumer the best deal.
Interview: Lovells' Joaquin Ruiz Echauri
Santander's swoops for Abbey, Alliance & Leicester and Bradford & Bingley have seen the Spanish financial services giant rapidly become synonymous with savings - not to mention Lewis Hamilton - in the UK and a household name. Alongside the continued…
Axa to appeal Air France victim payout
It follows the decision by a Rio civil court judge for it to pay $1.16m compensation for the death of the Rio state attorney-general.
Scor outlines expected losses from first quarter quakes and windstorm
Based on preliminary estimates, The French reinsurer expects its related costs to the Chilean earthquake to amount to approximately EUR95m net pre-tax.
European risk managers join chorus of concern over Solvency II
The Federation of Europe Risk Management Associations today said that although it supports the goal of Solvency II, its members are concerned by the impact the recommendations of the Committee of European Insurance and Occupational Pensions Supervisors…
Q&A - Markel
In the latest of a regular focus on European insurance companies and brokers, Insurance Insight talks to Esteban Manzano, managing director, Markel Spain.
Insurance investigation announced by European Commission
Michel Barnier has announced an in-depth examination of insurance against natural catastrophes.
Allianz sees GI go backwards in Germany
Premium income in property and casualty insurance slipped 1.2 percent, to EUR 9.2bn (EUR 9.3 bn), with prices under pressure all across the market, especially in motor insurance.
Italian insurer records rise in GI premiums
However, Vittoria Assicurazioni reported a net Profit attributable to parent company shareholders of € 16.9m in 2009, a drop of -16.1%.
Renaissance Re, Everest Re deliver loss estimates
Bermudian reinsurers Everest Re and Renaissance Re have said that they will be hit by losses from the Chilean earthquake earlier in March.
RSA swoops for marine business
RSA's Danish subsidiary Codan Forsikring A/S has acquired the renewal rights to TrygVesta's marine hull portfolio for DKK 50m (£6m) in cash.
Baugh to head up European operation in Chartis shake-up
James Shea, currently regional president for Chartis Central Europe & Commonwealth of Independent States, will become managing director of Chartis UK.
Hannover Re posts substantial profit growth
Hannover Re closed 2009 by generating an operating profit in excess of one billion euros for the first time.
RMS predicts insured losses from Xynthia could rise to €2bn
Risk Management Solutions has estimated that private market insured wind losses from Windstorm Xynthia will fall between €1.0bn and €2.0bn.
Mutual body blasts solvency II plans
"If the principle of proportionality introduced by Solvency II does not work in practice, we are likely to see aggressive market consolidation," claims AMICE boss.
CEA: still time to get Solvency II right despite fears over Ceiops
A new CEA report demonstrates that overly prudent capital requirements would restrict the insurance industry's role not only as a risk-absorber but also as an institutional investor financing long-term economic growth.
Munich Re boss confident of €2bn profit in 2010 despite early losses
Gross premiums written rose by 9.5% to €41.4bn (€37.8bn). But if exchange rates had remained the same, premium volume would have increased by 9.9% compared with the previous year.
Swiss Re gives quake and Xynthia loss estimates
Reinsurer claims losses for the European winter storm to be approximately $100m.