Europe
Brexit would ‘significantly damage’ London Market, says IUA
Underwriters have raised concerns Brexit would limit access to markets and “significantly damage” London Market companies, according to the International Underwriting Association.
Insurance Europe calls for changes to UFR to wait until Solvency II review
Europe’s peak insurance body Insurance Europe says there is some misunderstanding around how Solvency II liabilities are calculated, particularly its relationship to the ultimate forward rate.
RPC Consulting opens Paris office
RPC Consulting, the consulting arm of law firm RPC, has appointed former founding partner of EMB France Stéphane Chappellier to head up its new Paris office.
Europe: Building success for construction firms
The improving Spanish infrastructure sector offers an opportunity for local insurers.
JLT expects £34m in ‘total exceptional costs’ for 2016
Global (re)insurance broker Jardine Lloyd Thompson anticipates £34m in “total exceptional costs” for 2016, but remains on target to achieve its objectives for the coming year.
UK insurers given hope over European Commission compromise for “unenforceable” Vnuk ruling
A senior executive from the Motor Insurers’ Bureau has offered the UK insurance market hope that the European Commission will review its response to the Vnuk ruling as it comes to understand the level of unintended consequences the decision might have…
United Nations secretary-general asks for industry's help on climate change
United Nations secretary-general Ban Ki-moon has urged the insurance industry to work with the organisation in a meeting at the UN's headquarters in New York this week.
XL Catlin appoints head of insurance strategic client and broker management
XL Catlin has named Philippe Gouraud as its head of strategic client and broker management for its insurance division.
Europe: Join the caravan
Caravans and motorhomes are increasingly popular and many vacationers are choosing to take them to Europe. What insurance challenges does this pose?
Hit-and-run interim report to be published in next few weeks
The Motor Insurers’ Bureau expects the University of Leicester to publish an interim report into hit-and-run motor accidents within the “next few weeks” as it aims to get a better understanding of the reasons why people leave the scene of a collision and…
Europe: The Insurance Distribution Directive: Looking under the bonnet
The Insurance Distribution Directive came into force on 23 February 2016 and European insurance distributors - namely brokers, agents and other intermediaries - will have to comply with it from 23 February 2018
Willis Re sees "encouraging signs" as reinsurance renewal rates fall again
Willis Re's latest reinsurance report has identified some encouraging signs for the market despite April reinsurance rates falling for the fourth year in a row.
Solicitors' PI: Unrated insurers – is it the long goodbye?
They may be dwindling in number, but no one knows if the end of unrated insurers in the solicitors' professional indemnity market is near
Friendsurance secures funding for Australia expansion
Berlin based peer to peer insurance firm Friendsurance has secured $15m (£10.4m) of funding for expansion.
Europe: Market realities could trump cross-border aims
Although the European Commission is considering moving cross-border barriers for insurance sales, detractors are making their voices heard.
Metlife wins 'too big to fail' court hearing
US life insurance giant Metlife has won a court victory over the US Treasury's decision to classify the insurer as a systemically important financial institution.
AIG Europe reports growth in net premiums, slight COR improvement
AIG's European arm posted stable results for the year ended 30 November 2015, including a slightly stronger combined ratio of 98.2% (2014: 98.4%) and 2% growth in net premiums.
R&Q ramps up acquisitions with Rank Insurance deal
Randall & Quilter has acquired Rank Insurance Limited, a Guernsey captive firm in run-off, from Rank Overseas Holding Limited.
Brexit too risky with no insurance policy against it, says Aviva boss
Britain leaving the European Union is not worth the risk when assessing the economic impacts, according to Aviva group CEO Mark Wilson.
Brexit offers UK insurers respite on ECJ VAT ruling for outsourced claims
UK insurers are facing significant increases to the cost of outsourced claims handling if the government is forced to align its VAT position to a recent European Court of Justice ruling, but the June vote on whether the UK should leave the European Union…
Axa chairman and CEO Henri de Castries to step down
Axa’s long-serving CEO and chairman Henri de Castries will retire and leave the board of directors on 1 September with the role to be split following his departure.
Generali appoints Donnet as group CEO
Italian giant Generali has appointed Philippe Donnet, Generali's Italy country manager, as group CEO.
VIG plans for growth as €172m preliminary profit announced for 2015
Vienna Insurance Group has targeted at least 10% growth in Poland, Hungary, Croatia and Serbia over the medium term as the company announced a €172m (£134m) preliminary profit before tax for 2015.
Europe - Vnuk: EU ruling is a black cloud over motorsport
The Vnuk ruling - making third-party insurance compulsory - could make motorsport participation too expensive and supporters are calling for an exemption to be made.