France
A windstorm for the insurance market
As the market gradually starts to digest the recent European renewals, Francesca Nyman considers the increasing challenge that European windstorms pose and whether insurers are adequately protected against this risk.
Axa and Japan Post ranked world's largest insurers
French insurer Axa once again came top of AM Best’s ranking of the world’s 25 largest insurance companies as measured by net premiums written, while Japan Post Insurance Company led the ranking measured by nonbanking assets.
Global insurance premiums top pre-crisis levels at $4.3trn according to study
Global insurance premiums grew by 2.7% in inflation adjusted terms in 2010 to $4.3 trn, climbing above pre-crisis levels, according to a new study by The City UK.
View from the top: Market volatility and risk – ‘Keep Calm and Carry On’
As 2011 draws to a turbulent end, minds are now focusing on how best to tackle the continued economic volatility that 2012 is sure to bring for risk managers across the world. Never has the old adage ‘Keep Calm and Carry on’ been more appropriate.
Perils updates windstorm exposure data for 11 European countries
Perils, the independent organisation that provide industry-wide catastrophe insurance data, has updated the windstorm exposure data for 11 European countries.
Sales to boost capital at Groupama
Groupama has made an agreement with state owned French banking group, Caisse des Dépôts which it says will introduce substantial fresh capital to Groupama to reinforce the group’s solvency.
Groupama on negative watch
Groupama and its subsidiaries have been placed on negative watch over the possible weakening of its financial profile.
Payment protection insurance thrives in Europe
Payment protection insurance is an expanding market in much of Europe, despite issues in the UK market, according to a report.
French floods to cost insurers €800m
The November floods in 16 regions of France look set to cost insurers €800m according to a new report.
Torus acquires Starr’s Continental Europe renewal rights
Specialty insurer Torus's syndicate 2243 has acquired the renewal rights to the European business of CV Starr's syndicate 1919.
Editor's comment: Sales, sprinklers and statistics
Any reputable estate agent — excusing the potential oxymoron — will tell you the property market falls quiet in the run-up to Christmas, as potential vendors focus on the festivities ahead. Not so in the insurance market, with an unexpected end-of-year…
Fire protection sprinklers: The market needs saturating
Despite research showing sprinklers significantly reduce economic damage and environmental impact following major fires, hopes for mandatory legislation remain low.
Martel reshuffles Groupama management
Recently appointed Groupama chief executive Thierry Martel has unveiled his new management team.
Groupama to meet 'in the dark' brokers
Groupama is expected to give the first details of what might happen to the troubled French insurer in the UK when it meets with many of its UK brokers tonight.
Taiwan's insurers urged to stop lending securities for shorts
Taiwan’s regulators have urged insurers to stop lending securities to short sellers seeking to bolster equities after the Taiex Index slumped.
Axa, MMA and Allianz linked with Groupama swoop
Axa, MMA's parent Covea and Allianz have been tipped to buy Groupama arm GAN, according to reports.
Spanish and French SMEs rank lowest in their understanding of insurance
Spanish and French SME’s rank the lowest when it comes understanding their insurance options, according to a recent study by Hiscox.
Marine - Post-IUMI: High seas scrutiny
The recent International Union of Marine Insurance conference underlined the escalating piracy problem and tasked underwriters with delivering a cargo-specific solution.
France and Italy assess flood damage
Torrential rains have caused widespread flooding in France and Italy during the first week of November after a low pressure system that developed over the Mediterranean Sea moved northwards, bringing high levels of precipitation.
European floods defy categorisation
Catastrophe modelling firm AIR Worldwide has said the storm that caused flooding in France and Italy earlier this month has led to 36 municipalities in France categorising it as a natural disaster.
Groupama mulls possible sales option
Groupama is believed to be investigating the option of selling a stake in the company or assets to outside investors in an attempt to strengthen its capital and restore its solvency margin.
Strong US ties help rate Axa's entities as 'AA-'
Axa has had all its entities' insurer financial strength ratings affirmed at 'AA-' by Fitch Ratings.
Groupama CEO Azéma sacked after Fitch and S&P action
A senior rating analyst has played down fears a raft of major European insurers could be on the end of downgrades in the wake of the European Union debt crisis.
Greek debt exchange won't lead to insurance downgrades, says Fitch
Leading insurers across Europe have been told that manageable exposure to Greek government bonds will mean they will not be downgraded if they accept the EU's offer of a 50% haircut in return for new debt, according to Fitch Rating.