Europe
Editor's comment: A taxing sting in the tail
As Benjamin Franklin said, only two things in life are certain: death and taxes. But the latest tax decision to come from the European Court of Justice has a particularly nasty sting in the tail for the UK insurance industry.
Volatility adjustment approval process could disadvantage UK firms
Proposals to make the Solvency II volatility adjustment subject to pre-approval by the Prudential Regulation Authority could put UK firms at a competitive disadvantage, according to EY’s head of insurance regulation and risk Martin Bradley.
40% of 20 largest ex-nat cat losses in 2013 from oil and gas
Globally, excluding those caused by natural disasters, oil and gas losses were worth $3.2bn (£1.95bn) in 2013.
Europe: New rules for Dutch-based insurers
Martijn van Broeckhuijsen looks at the tough new rules Dutch-based insurers could be facing around remuneration
Insurers to face 'soaring' VAT bills following ECJ ruling
A ruling from the European Court of Justice is likely to add hundreds of millions to European insurers’ VAT bills, according to tax experts.
Moore Stephens hires ex Mazars insurance partner
International consultancy firm Moore Stephens has appointed Omar Ripon as partner in its insurance industry group.
Skuld reports record H1 contingency reserves
Norwegian marine insurer Skuld has reported record contingency reserves of $354m (£217.7m) for the first half of the year.
Europe: Promising economic outlook in Eastern Europe brings opportunities to flexible insurers
The current environment in central and Eastern Europe represents a unique opportunity for insurers and insurance brokers.
Gable partners with Iprism on £100m UK agreement
Lichtenstein-based insurer Gable has partnered with Iprism Underwriting Agency to write commercial business in the UK market.
Conservative peer awarded top EC finance brief
Conservative peer Jonathan Hill, a former PR man and education minister, has been appointed as the new European commissioner for financial stability and regulation.
Swedish flood claims more than double in 2014
Sweden’s insurers face a heavy hit from natural catastrophe claims, as the number of flood damage claims lodged reaches more than double the previous year’s total.
Chubb promotes Rehman to Europe CEO
Chubb Insurance has appointed Jalil Rehman as chief executive of its European business.
Acturis buys German software provider NAFI
Acturis Group has acquired German motor insurance software provider NAFI creating an international group with £40m annual revenues.
Axa bidding for Polish insurance unit, claim reports
Axa has offered between 500m PLN (£94m) and 600m PLN (£113m) for the insurance arm of MBank in Poland, according to reports.
Guy Carpenter rolls out new European hail model
Guy Carpenter has launched a probabilistic hail model for Europe.
Matthews Daniel purchased by Bureau Veritas
Independent energy claims adjuster Matthews Daniel has been acquired by French inspections expert Bureau Veritas.
Rehab: Looking to Europe
Despite being received with enthusiasm, rehabilitation in the UK is being accused of having stalled - but why has it fallen so far behind similar models across Europe?
Hancock starts AIG CEO role
As of yesterday, Peter Hancock assumed the role of president and CEO of AIG, and has joined AIG’s board of directors.
Brokerslink gears up for Venice conference
More than 200 broking delegates from 70 countries are expected to participate in this year's Brokerslink conference in October.
Munich Re's head of China and Hong Kong takes up global marine role
Munich Re's chief executive of Greater China and Hong Kong John Wilkinson has been appointed CEO of Munich Re’s global marine partnership.
Insured disaster losses fall by $4bn in first six months of 2014
Total economic losses from natural catastrophes and man-made disasters reached $44bn (£26.5bn) in the first half of 2014, according to preliminary estimates from Swiss Re’s Sigma database.
Europe: Climate change modelling
The question of whether climate change is driving an increase in the severity of weather events is a key concern for insurers. How can modelling systems keep up?
Compre expands German footprint with HIR acquisition
Reinsurance legacy specialist Compre has completed the acquisition of Hamburger Internationale Rückversicherung from Tawa after obtaining approval from German regulator BaFin.
QBE Europe sees GWP drop 13%
QBE Europe's first half gross written premiums fell 13% to $2.69bn (£1.62bn) from $3.1bn in the same period of 2013.