Europe
Pre-tax profits at Catlin climb 27% in 2013
Catlin's pre-tax profits reached $432m in 2013 - up 27% from $339m the previous year.
ABI kick-starts Flood Re CEO recruitment process with job ad
The Association of British Insurers has started its search for the chief executive of Flood Re and will be advertising the position in this week's Sunday Times.
Three EU states fail to meet gender directive deadline
Three European states failed to meet the December 2012 deadline to implement legislation prohibiting the use of gender-based pricing, according to the EU insurance supervisor.
Fitch affirms Generali at A- with negative outlook
Fitch has confirmed the ratings of Italian insurance giant Generali, locking the insurer and its core subsidiaries’ Insurer Financial Strength score at A- with a negative outlook.
Europe: Clearing up confusion
A mid-January decision to amend the European Union's Insurance Mediation Directive - set to come into force in 2016 - through a revised Markets in Financial Instruments Directive has generated much confusion.
Munich Re's reinsurance division operating profits down 19%
In 2013, according to Munich Re's preliminary results, operating profits at its reinsurance arm reduced from €4.3bn in 2012 to €3.5bn last year (a reduction from €3.1bn to €2.8bn in its consolidated result).
GSII capital requirements must strike right balance, says Insurance Europe
Basic capital requirements devised by the International Association of Insurance Supervisor for global systemically important insurers need to strike a balance between risk-sensitivity and complexity, Insurance Europe has said.
International: The key to protecting property
With economies recovering across Europe, the property market is beginning to show signs of movement again. But with the credit crunch still fresh in people’s memories, insurers are seeking to reassure those feeling cautious about property transactions.
Lloyd’s vs Asia: Is London losing its crown?
Could factors including economic growth in the East and increasingly burdensome UK regulation see Lloyd’s Asian hub in Singapore oust its London counterpart as the global centre of insurance?
Vienna Insurance acquires Moldovan insurer
Vienna Insurance Group has inked a deal to acquire a 94% stake of Moldovan insurer Donaris Group.
European appetite for run-off deals set to grow, survey finds
France and Germany have been tipped as the most likely European countries to see run-off deals completed, according to insurance industry respondents to a Clyde & Co survey.
Ukrainian market shows signs of strong recovery
Profitability in the Ukrainian non-life insurance sector has recovered strongly in recent years but standards of regulation and financial reporting continue to act as a drag on ratings, according to Fitch’s market update.
Europe: Weathering the storm
Europe got a battering from natural catastrophes in 2013, resulting in the region clocking up the most loss events for the year across the globe.
Ace names Axa’s Brionne as Iberia president
Ace has recruited Axa’s property-casualty programme director for northern, central and eastern Europe to lead its own operations in Iberia.
RSA UK & Europe finance boss heads to energy sector
RSA’s UK and Western Europe finance director is to leave the insurance industry, moving to a Wiltshire-based energy company.
Axa Ireland handed Moody's upgrade
Axa’s Irish general insurance operation has been upgraded by Moody’s to an Insurer Financial Strength Rating of A2, with a stable outlook.
Minister defends Gibraltar against ‘unfair advantage’ perceptions
Gibraltarian minister talks up non-motor insurance expansion.
Penny Black's Insurance Week - 30 January 2014
Oval staff received a treat this week when the area outside their office was transformed into a film set – with none other than Jack Bauer himself, Kiefer Sutherland, among the famous faces on site filming scenes for the return of TV thriller 24.
Horsemeat Scandal: Making hay
The horsemeat crisis first hit the news in January 2013, leading to more regulation in the food industry. However, not all cases resulted in litigation
Agriculture: Hard times
With a predicted increase in extreme weather events expected to add to the many difficulties already faced by farmers, how can the insurance industry better support the beleaguered sector?
FCA claims review coincides with improving London market service quality
London market insurers have been “upping their game” in terms of claims service quality amid an ongoing Financial Conduct Authority thematic review, according to the results of Gracechurch Consulting’s 2013 claims performance monitor.
Europe: Title insurance
With economies recovering across Europe, the property market is beginning to show signs of movement again. But, as the credit crunch is still relatively fresh in people's memories, insurers are looking to provide reassurance to those feeling more…
Mered appointed chief claims officer at Zurich
Zurich has appointed Saad Mered to the position of chief claims officer for its general insurance business.
Passporting insurers must assess value of rating says Gibraltarian commission
Gibraltar based-passporting insurers will have to consider the value of having a credit rating if the Solicitor's Regulation Authority introduces a minimum standard for qualifying insurers, according to Michael Oliver, head of insurance supervision at…