Europe
Zurich closely monitoring Brexit developments
Zurich is keeping a close eye on how the referendum over UK membership of the European Union progresses, according to UK general insurance CEO Vibhu Sharma, who highlighted the company's position as one that is already headquartered outside the EU.
Europe C-suite: IT threats mean banks need tailor-made regulation
When I was growing up in the early 1980s, we were subjected to fanciful plot lines from far-fetched films, from Matthew Broderick hacking NORAD's computer system and nearly starting World War III, to Superman being called upon to defeat a computer fraud…
Greco to begin Zurich CEO role earlier than planned
Generali's outgoing CEO Mario Greco will start his upcoming Zurich global CEO role months earlier than originally planned.
Zurich's CEO announces more job losses after "disappointing" 2015
Zurich's interim CEO Tom de Swaan has announced plans to eliminate 8000 roles by the end of 2018 after announcing a 37% profit fall last year.
Kirshner hails 'tremendous' underwriting result at Markel
Alan Kirshner, executive chairman at Markel, said 2015 was a "tremendous year" for the (re)insurer's underwriting operations.
The Post Power List 2016
In a year where regulation, natural disasters, consolidation and cyber/digital again look set to make waves, and when the country could learn if it’s in or out of the European Union, Post had a mind mapping session – with a bottle of wine – to see who…
Slovenian insurers could see lower capital ratios under Solvency II
Capital ratios for Slovenian insurance companies could be lower under Solvency II than they were under the Solvency I regime, according to Fitch Ratings.
Signal Iduna implements Friss solution for fraud detection
German insurer Signal Iduna has introduced a software solution from Friss to fight fraud in a more structured and effective way within the claims process.
Brexit would disadvantage SMEs' trading potential, RSA warns
Nearly three quarters of UK SMEs struggle to export beyond the European Union meaning they could be disproportionately disadvantaged if the UK votes to leave the EU in an upcoming referendum, RSA research has found.
C-Suite: More pain in the Year of the Monkey
As the excitement builds across much of Asia for the countdown to Chinese New Year, Markel's Matthew Cannock gives a stark warning to the industry.
Chubb names Continental Europe country presidents
Chubb has named the leaders of its operations in Continental Europe, reporting to Continental Europe division president Jeff Moghrabi.
Cyber: A cyber game changer
The European General Data Protection Regulation is approved and poised to bring new responsibilities that insurers must prepare for.
Axa CEO de Castries warns UK against 'serious consequences' of EU exit
Paris-based Axa CEO Henri de Castries has issued a stark warning ahead of a UK referendum on EU membership by stating that an exit would spark “very serious consequences” for the City of London.
Philippines could achieve 28% premium growth in 2016
The insurance regulator in the Philippines is expecting premium growth of 28% this year.
FCA issues £15.5m in fines to fill hole caused by Eric, Balva and Millburn failures
The Financial Conduct Authority has fined five individuals and two firms a total of £15.5m for their part in a market failure that left hundreds of solictors without valid cover.
UK cyber market to resemble US amid tougher EU penalty regime
The UK insurance market is expected to increasingly follow its US counterpart as incoming EU legislation substantially toughens up penalties for data breaches.
C-Suite: Traditional behaviour is incompatible with technological paradigm
Matthias de Ferrieres is sceptical if the industry will have a digital awakening this year.
AM Best places AIG under negative review
AM Best has placed AIG's credit ratings under review with negative implications.
Greco leaves Generali to become Zurich global CEO
Mario Greco is leaving his role as CEO of Generali to join Zurich as global CEO starting on 1 May.
Demand for M&A assets to outweigh supply, survey finds
Competition for attractive insurance industry merger and acquisition targets is set to intensify in the next three years as more than 80% of insurers plan to acquire while only one third plan to divest, a Willis Towers Watson survey has found.
AIG pares back to achieve planned $25bn shareholder return
AIG plans to return $25bn (£17.5bn) to shareholders through measures including a part-IPO of its mortgage insurance subsidiary and a series of reinsurance transactions, a strategic announcement revealed today (26 January).
Europe: Ukrainian insurance market ready for structural reforms
The past year has been full of contradictions for the Ukrainian insurance market. On one hand, on-and-off military conflict in the eastern regions contributed to depreciation of the hryvnia against the dollar, deepening the economic crisis that had been…
Europe: March of the European giants
European insurers have huge influence in the UK, so how are their strategies set to unfold?
Mitsui to complete Amlin takeover next month
Mitsui Sumitomo Insurance Company's £3.47bn acquisition of Amlin is expected to complete on 1 February.