Germany
German floods could cost insurers up to €5.8bn
Historic floods in Germany are likely to generate insured losses of between €4bn and €5.8bn according to AIR Worldwide.
Coface downgrades Eurozone GDP after Germany concerns
Economists at cred insurer Coface, are downgrading their GDP growth forecast for the Eurozone, reflecting concern about Germany, the largest EU economy.
Talanx expects under €250m losses from European floods
German insurance giant Talanx has estimated its net loss from flood claims in Germany and neighboring countries at less than €250m.
Hannover Re flood loss may exceed €100m
German reinsurer Hannover Re said today its net loss from the recent flooding in Central Europe could exceed €100m.
Allianz expects €350m European flood hit
Allianz expects a net loss from the flooding in Central Europe to be approximately €350m, the German insurance giant said today.
Disaster model released for German floods
Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, has launched a scenario model for the recent German floods.
Swiss Re warns of $44bn loss scenario from Chinese flood and storm surge
With its large economy and over half of its manufacturing centres exposed to flood risk, China represents a much bigger risk to insurers than Thailand, according to a new report from Swiss Re.
European non-life premiums up 3% in 2012 to €459bn
New figures published today by Insurance Europe show a provisional increase in total European gross written premiums of 1.6% at constant exchange rates in 2012. This follows a decline in premiums of over 2% in 2011.
Swiss group Baloise to close Bremen and Nuremberg offices with 400 job cuts
Baloise is to close two German offices with the loss of up to 400 jobs.
Dam bursts on River Elbe
23 000 people have been evacuated from the east German city of Magdeburg after a dam burst as the River Elbe overflowed.
Perils releases European flood satellite pictures
Zurich-based independent catastrophe data company Perils has released satellite-based 'flood footprints' for the ongoing floods in Central Europe which are affecting mainly Germany, Austria and the Czech Republic.
Insured flood losses likely to be below 2002 level
The macroeconomic losses from the floods in central Europe are likely to far exceed the insured losses, Munich Re’s chief executive Niclaus von Bomhard said.
Hiscox appoints Axa's Tondu-Melique as European chief operating officer
Hiscox has appointed Florence Tondu-Melique as its new European chief operating officer.
Allianz buys Swedish windfarm for undisclosed sum
Allianz said on Wednesday it has bought a Swedish windfarm taking its investment in renewable energy in Europe above €1.5bn.
“Significant damage” expected from devastating European floods
Catastrophe modelling firm Eqecat has warned the industry to expect significant damage from the floods that have inundated Germany, Austria and the Czech Republic over the past week.
Blog: Insurance spawns Germany's longest word
In a week of exciting news the best was saved for today when the longest word in the German dictionary – Kraftfahrzeughaftpflichtversicherung - was confirmed to be insurance-related.
Heavy rain causes “record” Central European flooding
Floods wracking Germany, Austria and the Czech Republic are the worst for 70 years according to catastrophe modeller AIR Worldwide.
German floods reach record levels
Heavy and relentless rain has resulted in some of the worst flooding seen in Central Europe for more than 70 years.
Severe flooding hits Central Europe
Authorities in Central Europe have declared states of emergency after severe flooding hit cities across the region.
Regional players may miss Solvency II deadline
Solvency II must be implemented in January 2016, whether or not the continent's smaller, regional are prepared, according to Charles Juniper, analyst at Ovum.
Internationalisation: Taking Flight
The economic downturn has led many European companies to look to emerging markets for growth. Can insurers capitalise on the trend? Anna Pitton explains.
Marketing: European exposure
In the UK, the insurance industry is well known for its marketing and advertising campaigns but is brand management as effective in Europe, Francesca Nyman explains.
P&I Club anticipates "most expensive year" for International Group pool
The London P&I Club’s result for the 2012/2013 financial year was a surplus across all classes of $9.4m, increasing the free reserve to $154m.
Allianz achieves record revenue in Q1
Allianz achieved total revenues of €32bn in the first quarter of 2013 the highest quarterly total revenues in its history, and an increase of 6.6% on the first quarter of 2012.