Europe
Crimea crisis could cause rates increase as analysts predict strain on capacity
Commentators split on potential impact of sanctions against Russia.
Zurich job cuts to 'primarily impact' Switzerland, UK and Ireland
Following this week's announcement that Zurich is cutting 800 jobs, a spokesman has confirmed that the primary locations impacted by the changes will be Switzerland, the UK and Ireland.
Omnibus II passed by European Parliament
The final obstacle to Solvency II implementation looks to have been passed after the European Parliament adopted the Omnibus II Directive today.
Zurich to cut 800 jobs globally
Zurich is looking to cut 800 jobs across its global operations as the insurer looks to reduce costs and save $250m annually.
All change in Europe
The European guard is changing, and by the end of the year the UK insurance industry could find the European Parliament and Commission rather harder places to press its case than previously.
Aviva reverses loss with £2.15bn profit but UK profit falls
Aviva delivered a post-tax profit of £2.15bn for 2013, reversing the loss of £2.93bn recorded in 2012.
Contract law not main obstacle to single insurance market
Contract law is only one obstacle to cross-border insurance within the EU, among many more important ones, according Insurance Europe.
Allianz Global Corporate & Specialty's profits rise 16%
Operating profit at Allianz Global Corporate & Specialty in 2013 climbed 16% to €483m compared to €416m the previous year.
RSA reports £244m loss as Hester says UK 'needs to improve'
RSA Group this morning reported a pre-tax loss of £244m in 2013 (2012: £448m profit).
RSA launches £775m rights issue
RSA is aiming to raise £775m in a rights issue, dispose of several geographic divisions and will not pay a dividend for 2013 after a pre-tax loss of £244m.
Claims Club News - 27 February 2014
All the news from Post’s Claims Club event on 19 February
Digital Channels: The future is digital
Insurers must perform a root and branch review of their digital channels if they want to remain competitive in the coming years.
Trade Voice: Flooding: the rules of engagement
The recent industry chief executive roundtable with ministers served as a reminder of how critical the role of insurance is to government and society in dealing with the problems caused by the ongoing flooding.
Axa’s global P&C revenues up 2%
Axa has seen group-wide revenues for its property and casualty business increase 2% in figures for 2013.
Generali Spain appoints Villa as CEO
Generali’s Spanish unit has named former Generali Seguros director general comercial Santiago Villa as its new chief executive.
Europe: The run-off legacy
The run-off market looks set to consolidate its position in Europe, a trend borne out by a Clyde & Co survey which found 60% of insurer respondents expect to complete a deal in Europe in the next 12 months.
Ace adds two to Nordic property teams
Ace has bolstered its Nordic property operations with an appointment in Norway and a promotion in Stockholm.
Willis recruits Copenhagen based political risk boss
Willis has bolstered its financial solutions unit with the appointment of a new leader for its Copenhagen based new political risk, terrorism and trade credit head.
C-Suite: Databases are key to increased profitability in Asia
Peter Orlay explains how contributory databases can play a key role in increasing profitability across the insurance chain in Asia.
Gibraltar aims to become ILS hub within EU
The government of Gibraltar has unveiled plans to make the territory an insurance linked securities destination within the European Union.
Zurich sees operating profit up 15% and premiums fall 4%
Zurich's global operating profit climbed 15% in 2013 helped by a significant improvement in its general insurance combined operating ratio.
Admiral extends reinsurance deals to 2016
Admiral has added an additional year to reinsurance partnerships with Hannover Re, Mapfre Re, New Re and Swiss Re, extending contracts to 2016.
Suisscourtage handed Lloyd’s broker approval
French insurance broker Suisscourtage has been given registration to serve as a registered Lloyd’s broker.
European CFOs optimistic on profitability growth
European insurance chief financial officers are optimistic about increasing profitability, with a Moody’s survey finding nearly half of CFOs predicting their operating profit would grow between five and 10% in the next year.