Europe
IMD II heads for European Parliament negotiations
The second edition of the Insurance Mediation Directive is to head for the European Parliament for negotiations over adoption following approval from the European Council.
IWDC14: Commissions and Solvency II on Spanish regulator's agenda
Fees and commissions feature prominently on the Spanish insurance and pensions regulator’s agenda, despite a significant focus being placed on the transposition of Solvency II.
Europe: Ireland update
David Worsfold takes a look at how the recovery of the Irish economy, as well as challenges such as regulation from Europe, is affecting Irish insurers and brokers
Munich Re hikes 2014 profit forecast beyond €3bn
Munich Re is confident it will now exceed a forecast full year profit of €3bn for 2014 following strong performance in Q3.
Zurich's global Q3 profits fall 6%
Zurich's global profits in Q3 2014 fell 6% compared to Q3 2013, however the insurer's overall profits are up so far this year.
Aon Benfield swoops for Adriatic reinsurance broker
Aon Benfield has purchased a Greece and Cyprus focused reinsurance broker, recruiting 11 local staff in the process.
Zurich completes sale of Russian retail business
Zurich Insurance Group has completed the sale of its general insurance retail business in Russia to OLMA Group.
Europe: Environmental Liability Directive – the polluter pays principle
On 30 April, 2007 the European Directive 2004/35/EC, regarding the prevention and remedying of environmental damage, had to be transposed into local legislation by all European member states.
Deputy Editor's Comment: Looking beyond the EU rhetoric
Is it impossible for anyone in public office to talk about the European Union without expressing or feigning anger for their own side’s short-term political gain? It seems that way this week.
Expanded mandatory motor insurance could mean increase in MIB levies
DfT, ABI, Biba and MIB to meet next month to discuss potential changes
London company market income from overseas offices increases 10%
Insurance business written overseas subject to oversight by London operations accounted for £6.8bn of premium in 2013, a 10% increase on 2012, according to an International Underwriting Association report.
Marie-Louise Rossi: An obituary
Marie-Louise Rossi, who died last night at the age of 58, left a huge legacy for the London insurance market for which she acted as a powerful, persuasive advocate for over a decade while at the helm of the International Underwriting Association (IUA).
UK General hands claims boss Irish reins as it plots growth driven by internal capacity
Leeds-based insurer UK General has named claims director Nicola Sumner as its new director of Ireland for insurance, boasting a plan for expansion into Ireland backed by its own capacity.
Private equity eying larger EMEA insurance stake
Insurance firms across Europe, the Middle East and Asia are more focused on disposals than acquisitions as they look to shed non-core units and strengthen their market positions elsewhere.
Polish insurance market faces 'moderate' risk, says S&P
Poland's general insurance industry is benefiting from the country's "strong and competitive economy and good growth prospects", according to Standard & Poor's.
Compliance deemed top challenge for multinationals, finds Ace survey
Risk managers surveyed by Ace have highlighted compliance and regulatory issues as their greatest challenges in managing multinational insurance programmes.
Wheatley appointed CEO of Guernsey Finance
Dominic Wheatley, formerly at Willis, to replace outgoing CEO Fiona Le Poidevin on 1 December.
Driverless cars could be mandatory within two generations predicts Teradata chief
Autonomous cars will be the norm within two generations according to experts speaking at the Teradata Partners conference.
RFIB hires two from Willis to grow German business
RFIB Group has appointed Colin Pinder and Gary Blakesley as divisional directors to develop a predominantly German marine account.
C-Suite: Risk within an ERM framework
JLT's Craig Paterson argues that enterprise risk management needs to be aligned to the finances of a company.
Delegated Acts publication boosts confidence in Solvency II go-live date
Analysts say pillar three needs ‘significant’ resources as insurers behind on this
Furniture giant Ikea enters insurance market
Homeware retailer Ikea has entered the Swedish insurance market selling child and pregnancy policies with a trial of home insurance products planned for the coming weeks, according to reports.
One fifth of European insurers not using technology to fight fraud
More than half of European insurers using business analytics saw detected fraud increase by more than 4% year-on-year, according to research from software firm SAS.
Solvency II Delegated Acts published
The Solvency II Delegated Acts, published today, have been welcomed by Insurance Europe which says it is examining their impact on insurers and policyholders.