Europe
Vienna Insurance Group sees profits climb by 22%
Vienna Insurance Group saw profits before tax rise 22% in Q1 2017 to €109.6m (£94.6m) from €89.6m in the same period last year.
Solvency II ratios not comparable across EU and won't be used in ratings, says AM Best
Solvency II ratios will not be comparable across the European Union and will not be used in rating assessments, according to AM Best.
This Week: Menace, manifestos and managing general agents
There is a menace in my house in the form of water. First it caused problems in my kitchen (as many of you will remember) and now it's found its way out of the bathroom.
Chubb hires ex-FSA chairman Lord Turner
Chubb has appointed Adair, Lord Turner as non-executive chairman of two of Chubb European Group and Chubb Underwriting Agencies.
Industry set against merger of EU insurer and bank regulators
Proposals to merge the European Insurance and Occupational Pensions Authority with the European Union’s banking regulator would damage the effectiveness of consumer protection and prudential oversight, according to Insurance Europe.
Reinsurance pricing won't turn this year, says Fitch
Reinsurance pricing is unlikely to change its course over the next year, with soft market conditions expected to continue and further pricing declines anticipated, according to Fitch Ratings.
Costa Concordia captain's sentence upheld
The captain of the Costa Concordia, which capsized in 2012 killing 32 people, has had his 16-year jail sentence upheld.
QBE merges underwriting divisions to form 'Brexit friendly' business
QBE is to combine its underwriting divisions to form a single "Brexit friendly" business.
Allianz's global P&C profits fall 12.7% in Q1
Munich-headquartered insurer Allianz saw global property and casualty pre-tax profits decline 12.7% to €1.26bn (£1.01bn) in the first quarter of 2017.
Cameron: Cyber crime solution needs insurance industry input
The insurance industry and the UK government need to work together on cyber crime and travel risks, former Prime Minister David Cameron said in his keynote address to the British Insurance Brokers’ Association conference.
Cbien secures €8m in second funding round
Digital asset manager CBien has raised €8m (£6.74m) from its existing shareholders MAIF, MACIF and 5M Ventures.
Kartesia leads €25m investment in Vet+a
European debt investor Kartesia has invested €25m (£21m) in Spanish insurance software group Vet+a.
Zurich falls to Q1 £105m GI loss in UK after Ogden hit
Global insurer Zurich posted a UK pre-tax loss for general insurance of £105m, which now includes global corporate, in the first quarter of 2017 compared with a profit of £49.6m in Q1 2016.
Zurich’s Guy Miller on why recovery is an opportunity for reform
A synchronised global recovery is an opportunity for reform, not for complacency, argues Guy Miller, chief market strategist and head of macroeconomics, Zurich.
Nigel Farage slams Lloyd's chairman over Brexit warnings
Nigel Farage has criticised Lloyd's of London chairman John Nelson over pre-referendum warnings on the negative impact of Britain withdrawing from the European Union.
Strong investment results bolster Munich Re's Q1 profits
Munich Re saw a 28% rise in profit in the first quarter of 2017, up to €557m (£469.6m) from €436m for the same period in the previous year.
Hiscox chooses Luxembourg as post-Brexit base
Hiscox has announced plans to open a European subsidiary in Luxembourg in response to Britain’s exit from the European Union.
Kennedys to merge with US insurance law firm
Kennedys will be merging with US insurance law firm Carroll McNulty & Kull to create a global insurance practice.
Halo to offer car hire excess insurance to Italian market
Insurtech broker Halo Insurance Services has expanded into the Italian market by offering car hire excess insurance policies.
Beazley to open Barcelona office in Europe expansion
Beazley has launched its Europe expansion with the opening of a Barcelona office.
Finishing line in sight for the IPID
Although many who voted for Brexit may have hoped otherwise, leaving the European Union will not enable the UK insurance community to turn a blind eye to the insurance regulations dreamed up by those famously unelected bureaucrats in Brussels. Although…
QBE to apply for European licence outside the UK
Australian giant QBE is planning to apply for a European passporting license outside of the UK as a result of Brexit.
AIG returns to Q1 profit despite poor COR performance
Global P&C and life insurer AIG bounced back to profit in the first quarter of 2017 despite some poor underwriting performances.
Allianz Group sees profit rise by 9%
Allianz Group has seen operating profit rise by 9% in the first quarter, from the same period last year.