Europe
UK and Ireland winter storms to cost Zurich $275m
Zurich is expecting to record an operating loss in general insurance for the fourth quarter of its financial year as a result of strong storms across the UK and Ireland.
Blog: Solvency II to fuel further consolidation in 2016
During the last 12 months, insurers have responded to the prevalent commercial, economic and regulatory pressures by stepping up mergers and acquisitions activity, cutting costs and rationalising non-core activities.
Europe: Telematics - Boxing clever
In the UK, telematics is seen as a way for young drivers to get covered, but other countries take different approaches.
End of marine market cycles, suggests Munich Re's Berg
Dieter Berg, executive general manager at Munich Re, believes the traditional marine market cycle might be over as premiums decline in a prolonged soft market.
BI remains top global risk while cyber is UK's biggest threat
Business interruption is the top global risk for the fourth year running, according to the Allianz Risk Barometer 2016, with cyber attacks, geo-political instability and technology failure identified as new possible drivers of BI losses.
Business interruption from cyber attacks a growing concern, says AGCS
Business interruption is the top risk globally for the fourth year in succession according to Allianz's Risk Barometer 2016 - an annual survey of risk managers.
RSA reaches out-of-court settlement with former Irish CEO Smith
RSA has reached an out-of-court settlement with the former CEO of its Irish operation Philip Smith.
HDI Gerling unveils new name
HDI Gerling Industrie Versicherung has rebranded to operate under the name HDI Global SE with immediate effect.
Capital capacity remains in reinsurance market as Solvency II hits
Excess capacity in reinsurance will continue through 2016 with European companies already factoring Solvency II into their buying strategies, according to analysis from Guy Carpenter.
Thousands of policyholders see refund from Iceland-based Eric
More than 2600 customers of the failed Iceland-based insurer European Risk Insurance Company (Eric) have received premium refunds from the Financial Services Compensation Scheme.
Europe: What the new privacy regulations mean for insurance services providers
It's almost upon us. After an epic journey, the much vaunted overhaul of European data protection rules has arrived, placing a tougher compliance burden not only on insurers, but also on companies that provide services to them.
Global reinsurance capital levels firm at £273bn, says Guy Carpenter
Overall capital levels for reinsurance have stabilised, with no growth seen for the first time in several years, according to a report from Guy Carpenter.
Technology: The future of farming
The rural idyll of the UK's farmlands may be the last place many would expect to find a technological revolution. However, as the Internet of Things continues its steady creep into every aspect of life, Britain's agricultural industry has not been left…
Amlin completes merger of two of its subsidiaries
Amlin yesterday (4 January) completed the merger of its two insurance company subsidiaries, Amlin Europe and Amlin Insurance (UK).
LSM expands casualty presence in Germany
Liberty Specialty Markets has improved its German position, appointing a four-strong casualty team in Cologne.
AIG's Baldwin takes on UK CEO role following McNamee exit
AIG Europe CEO and board director Anthony Baldwin has been appointed CEO of AIG in the UK.
Acquisition of French broker Gras Savoye finalised
Willis Group has completed its acquisition of French insurance broker, Gras Savoye.
Insured catastrophe losses were $27bn in 2015, says Munich Re
Insured natural catastrophe losses were $27bn (£18.3bn) in 2015 down from $31bn in 2014 and an average of $34bn over the past 30 years according to reinsurance giant Munich Re.
EY predicts busy 2016 for insurers with SII implementation
Professional services firm EY has warned insurers and regulators to prepare for a busy 2016 as companies start to embed the Solvency II Directive.
Liberty poaches TMK property team for Madrid office
Liberty Specialty Markets is writing property insurance business from its Madrid office for the first time with the appointment of a new team from Tokio Marine Kiln.
Legal Update: Hover with caution
The arrival of hoverboards in 2015 suggested that, as in Back to the Future, technology had found yet another innovative and entertaining way to enhance our transport options, even if it was difficult to know if a hoverboard was just an advanced toy or a…
ABI reassures policyholders they will not be affected by SII
UK insurers are well-prepared for the implementation of Solvency II capital rules on 1 January 2016, according to the Association of British Insurers, which has assured policyholders they will not notice any changes under the new scheme.
Fitch downgrades French non-life sector forecast
The French non-life insurance sector has seen a revised outlook to negative from Fitch Ratings, moving the sector from its previously stable rating.
New CEO for Nordics, Russia and Turkey at AGCS
Peter Hecht-Hansen has been appointed CEO of Nordics, Russia & Turkey at Allianz Global Corporate & Specialty, subject to regulatory approval.