Europe
Europe: Almost ready won't wash with regulators on 1 January
If someone were to ask the question of whether insurers are ready for Solvency II, the answer would be, "almost". But this simple response doesn't fully express the extent of work still to be done as we approach the biggest regulatory change the industry…
Europe: Opportunities in Middle and Eastern Europe despite geopolitical risks (26 Feb)
Despite the Russian-Ukraine crisis, 2014 brought hope of a revival for the regional market in Middle and Eastern Europe. Economic prospects have been positive, regardless of the continual geopo
Peak Re targets non-Asian markets with underwriting appointment
Railovy Boyer, former head of property and casualty pricing actuarial at Partner Re Paris, has joined Peak Re as director for underwriting.
Europe C-Suite: Time to tune up D&O policies in Spain
How will the Spanish Companies Act affect companies' liability risks - especially when it comes to board members and corporate officers?
Europe: The Terrorism Threat
Recent events in France, Kuwait and Tunisia clearly illustrate the evolving nature of the terror threat and its potential to affect people and businesses in unexpected ways.
Non-payment may be insufficient grounds to deny cover following Grexit
European insurers’ credit exposure to Greece is likely to be ‘manageable’ in the event of a Eurozone exit, but firms underwriting Greek individuals and business could face protracted contract disputes, market sources have warned.
Insurers warned to 'remain cautious' if Iran sanctions are lifted
The possible relaxing of sanctions against Iran offers a tempting source of new business but insurers must remain vigilant when considering entering into business arrangements with the state, international lawyers have warned.
Natural Catastrophes: Pool party
Insurers and governments are having to adapt to a world in which natural catastrophes are increasing in frequency and severity. It’s time for a new approach to nat cat.
C-Suite - MGA: Facing up to more Greek tragedies
If the Greek debt crisis leads to the failure of the euro, the industry may face a new set of risks.
Markel appoints new senior underwriter and head of professional indemnity
Markel International has appointed David Sawyer as senior underwriter and head of professional indemnity in its professional and financial risks division.
Assurant launches same day handset replacement so customers can ‘reconnect’ within hours
Assurant Solutions customers whose mobile phones are lost or stolen will be able to get a replacement handset delivered the same day following the launch of same day delivery offer to UK bank clients.
Moody's puts CGCS debt ratings on negative review
Moody's has placed the ‘B3’ corporate family rating and ‘B3-PD’ probability of default rating of Cooper Gay Swett & Crawford on review for downgrade given deterioration in the group’s Ebitda, financial leverage and interest coverage metrics.
Catalina completes Quinn legacy liabilities transfer
Catalina Holdings has completed the portfolio transfer of legacy insurance liabilities from Quinn Insurance.
Ex-Zurich corporate boss Green joins broker as director
Former Zurich corporate boss Steve Green has joined broker Anthony Jones as a director.
Europe: Cyber security
With hacking and phishing scams on the increase, businesses would be expected to include cyber insurance in their arsenal of measures designed to protect them and their customers in the event of breaches.
Dual enters CEE market following DCD purchase
Dual Group has launched in Central and Eastern Europe as Dual Polska, following the acquisition of the majority stake of Torun headquartered insurance specialist, Data Connect Direct.
Grexit edges closer as country heads for July 5 referendum
Greek banks will not open this week, following the European Central Bank’s decision not to extend emergency funding to the troubled Eurozone state.
UK General in talks over schemes business sale
Managing general agent UK General is gearing up to sell its personal lines schemes business.
Liberty to axe 270 jobs in Ireland and withdraw from UK motor
Loss making Liberty Insurance is cutting 250 jobs in Ireland and a further 20 in Enniskillen, Northern Ireland over the next 18 months.
FCA defends costs in relation to EU counterparts
The Financial Conduct Authority has disputed its costs are significantly more than other European Union regulators after a critical response from an insurance trade body to its fees and levies for 2015/16.
Brexit would be negative for UK financial sector
A vote to leave the European Union could threaten the health of the UK economy and its financial sector, according to Standard & Poor's Ratings Services.
Lure of Liechtenstein questioned as reports of insurer interest surface
The Liechtenstein financial regulator has flagged an uptick in insurance companies looking to establish a presence in the principality despite analyst scepticism about the benefit of the territory as an outpost for UK insurers.
Cyber attack on Polish airline grounds 1400
Polish airline LOT was forced to delay flights for five hours last Sunday (21 June) after a cyber attack on its ground operations systems.
RSA to appeal Philip Smith's constructive dismissal verdict
RSA has vowed to appeal the Employment Appeal Tribunal's decision in Dublin to award former Ireland CEO Philip Smith €1.25m (£900,000) in constructive dismissal damages.