France
Competition heats up for general insurance arm of HSBC
The competition to buy HSBC’s $1bn general insurance business is down to two contenders – Axa and Ace, sources have told Reuters.
Torus recruits XL underwriting manager
Specialty insurer, Torus, has appointed former XL property underwriting manager Gilles Rousseau as a senior underwriter for its general property division.
The PPI party
Payment protection is a dirty term in the UK while it thrives on the Continent Jakki May finds out why.
Editor's comment: Slim pickings at Groupama
It didn’t take long for some insurers to begin sharpening their knives and forks, and start planning how they can prey on the perceived wounded animal that is Groupama UK.
Brokers wary over Groupama transfers as S&P puts Aviva and Axa on rating alert
Up for sale insurer may be helped by wider eurozone worries.
French P&C sector can weather 'economic headwinds'
Moody's has changed its outlook for the French property and casualty sector from negative to stable, saying it expects better 2011 underwriting results for the sector than the previous two years.
Moody’s ups outlook for French insurers
Moody's has changed the outlook for the French property and casualty sector to stable from negative, but left the French life insurance sector on negative.
Chartis Europe SA assigned "A" IFS ratings
Chartis Europe SA (France) and Chartis Europe (UK) have been assigned "A" (Excellent) financial strength ratings and "A" issuer credit ratings by AM Best.
Impact of the French national commitment towards the environment
As changes to environmental laws begin to impact in France Gregory Allard explains how brokers and insurers must continue to innovate to ensure adequate protection is readily available.
Fitch: eurozone stress analysis concludes further rating actions unlikely
Fitch Ratings says that it does not expect to take any further rating actions on European insurers as a result of its most recently updated eurozone stress test analysis.
Perils estimates €300m windstorm Joachim loss
Independent Zurich-based firm, Perils, today disclosed an initial loss estimate of €300m for windstorm Joachim, which occurred in Western Europe from 15-17 December 2011.
View from the top: Looking longer term
The present market should be given less consideration than future propects, says Laurent Matras.
Mercer to become sole shareholder of French broker
March and McLennan subsidiary, Mercer, is to become sole shareholder of French health and benefits broker, Repca, in order to strengthen its position in the French market place.
Axa to use BAE systems fraud detector
Global insurer Axa has signed up to use BAE Systems claims fraud prevention service which it says will increase its efficiency and prevent honest customers from paying for fraudulent claims.
Mapfre, Generali and CCR downgraded following sovereigns
A raft of European insurers including Italy-based Generali and Spanish insurer Mapfre were downgraded by Standard and Poor’s yesterday.
Portugal, Spain and Turkey lead the way in European banassurance
Banks are most important distributors of insurance in Portugal, Spain and Turkey, according to recent research.
Groupama to sell UK operations
French insurer Groupama has confirmed it will sell its UK operations.
Editor's comment: Battle of the brands
From scrap yards to scrap heaps. Last week, the industry was getting agitated about the soaring problem of metal theft, while this week it’s more a sad tale of two well-known insurance names finding themselves destined only for the brand graveyard.
Breast implant scare could leave insurers facing multi-million-pound-bill
A £400m bill could land at the door of clinics and their insurers in the fallout of the banning of Poly Implant Prothese breast implants.
Lloyd's coverholder appoints ex-Chartis VP to launch French arm
Equinox Global, an approved Lloyd’s cover holder specialist in trade credit insurance, has appointed Alban De Malherbe to launch a French office.
Elite opens offices in France and Italy
Specialist legal and after-the-event insurer Elite is expanding its footprint in Europe by opening two new offices.
MMA to rebrand as Covéa as part of UK merger with Provident
Covéa has announced that Provident Insurance and MMA Insurance will merge into a single company, in a move which has been touted as a “platform for growth” within the UK market.
Axa raises €2.5bn to invest in the European property market
French insurer Axa will invest up to €2.5bn in the development of green and brownfield sites and existing properties which require extensive redevelopment across the continent, to exploit the gap left by banks in the property lending market.
QBE appoints French general manager from Marsh
QBE has appointed Jean-Philippe Pagès as general manager of QBE France replacing Jean Basset.