Germany
Arag chooses Barrie & Hibbert for Solvency II internal model
German insurer, Arag, has selected financial services firm Barrie & Hibbert for its internal model for market risk and for quantifying strategic asset allocation opportunities in a Solvency II environment.
Insurance key to encouraging private investment into renewables
Significant financial risk is most acute hazard for renewable energy sector, according to a report by Economist Intelligence Unit and Swiss Re.
Allianz appoints two board members
Allianz Global Corporate & Specialty (AGCS) has made two new appointments to its Board of Management.
Sovereign debt crisis is worsening, says HiFX foreign exchange dealer
Germany's failed bid to auction off $6bn of government debt has fuelled concerns that the sovereign debt crisis is worsening.
Allianz promotes aviation manager to head of broker development
Allianz Global Corporate & Specialty has promoted Zoe Layden to the role of senior broker development manager for the UK business.
Achleitner departs Allianz to join Deutsche Bank board
Allianz CFO Paul Achleitner is leaving Allianz’s managing board at the end of May to join the supervisory board of Deutsche Bank.
Torus adds senior members to European P&C team
Insurer Torus has made two senior appointments with the aim of strengthening its European property and casualty platform.
Torus completes double underwriting recruitment coup
Global insurer Torus has bolstered its European offering following the appointment Brian Byrnes as senior underwriter for property and Marco Sonntag as senior underwriter for casualty.
Blaser returns to Allianz
German insurer Allianz has appointed former motor head Roman Blaser as chief underwriting officer of global automotive.
Net write-down will not affect Allianz rating
Allianz's net write-down of €2.6bn on its investment portfolio in Q311 will not affect the insurer's rating.
Greek exposure hits Allianz Q3 profits
Impairments of €931m from investments including Greek sovereign debt slashed Allianz’s profits for the third quarter, but the insurer said it is still on course to achieve profits of €8.0bn for 2011.
Gothaer's IFS affirmed at 'A'
Gothaer Allgemeine Versicherung AG's and Gothaer Lebensversicherung AG's have had theit insurer financial strength ratings affirmed at 'A' and long-term issuer default ratings at 'A-'.
Vienna Insurance appoints new head of investor relations
Vienna Insurance Group has appointed Nina Higatzberger as head of investor relations.
View from the top: A better deal on motor
We have a problem. As an industry, claims inflation in motor insurance is racing ahead of average earnings increases.
AIR flood model maps exposure at the street level
AIR’s inland flood model for Germany is the first to combine a global climate model and a localised numerical weather prediction model, giving users a unique ability to calculate exposure.
'Difficult environment' hits Munich Re’s Q3 profits
Munich Re has reported an 88% reduction in operating profits for the third quarter, down to €402m from €3.4bn year on year.
Coface achieves 'AA-' rating and stable outlook
The major insurance entities of the Coface group has all received insurer financial strength ratings at 'AA-'.
AIR releases inland flood model for Germany
AIR Worldwide has released an inland flood model for Germany that is said to offer a fully probabilistic approach for determining the likelihood of flood losses from all types of storms.
AIR releases German flood catastrophe model
Catastrophe risk modelling firm AIR Worldwide has released an inland flood model for Germany that is said to offer a fully probabilistic approach for determining the likelihood of flood losses from all types of storms.
The challenge of life sciences
Mid-sized life sciences firms offer an attractive opportunity for insurers in Europe with many entering the market. Yet as Francesca Nyman reports litigation and legislation make this a challenging market too.
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.
LIU Europe opens Hamburg branch
Liberty International Underwriters has opened a new branch in Hamburg, Germany as it seeks to become a competitive, niche player in the region.
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.
Munich Re receives A+ (superior) rating
Munich Re has had its financial strength rating affirmed of A+ (Superior) and issuer credit ratings of “aa-” along with its subsidiaries.