Greece
Uniqa has ratings lowered to 'A-' despite ongoing restucturing
Austrian insurer Uniqa has had its rating dropped to 'A-' but with a stable outlook reflecting the fact it looks able to restore its capital adequacy in 2012.
Global reinsurance capital declined by 4% in the first nine months
Global reinsurer capital declined 4% from $470bn at 31 December 2010, to $450bn at 30 September 2011, according to an Aon Benfield report.
Generali in profit despite €329m Greek bond losses
Assicurazioni Generali reported net impairment losses of €824m in the first nine months of 2011, €329m of which was related to Greek bonds.
Natcats and the insurance sector
The European Union is currently consulting on natural catastrophes. Vic Wyman reports on the part the insurance industry has to play.
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.
Greek non-motor loss adjusters launch professional body
Greek claims specialists have banded together to form The Hellenic Association of Loss Adjusters in the hope of gaining equal status with other certified European loss-adjusting bodies.
No insurance downgrades expected despite Greek exchange
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.
Allianz welcomes EU debt crisis agreement
Allianz has welcomed the European Union agreement in Brussels to solve the debt crisis in Europe.
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.
Axa reports revenue up across Europe for Q3
Axa has reported increases its third quarter property & casualty revenues for all regions in Europe.
Average strength of companies deteriorates in Europe
Trade credit insurer Coface has reduced its 2011 forecasts for much of Europe following a deterioration of the average strength of companies.
Coface downgrades forecasts
Trade credit insurer Coface has downgraded its forecasts for the US and much of Europe claiming financial market volatility “has spread to the real economy”.
Atradius nominates Tesch as chief market officer
Credit insurer Atradius has nominated Andreas Tesch, chief market officer, pending approval of De Nederlandsche Bank.
Ratings watch: the risk of negative outlooks
The Greek sovereign debt crisis has raised questions about insurers’ investment portfolios and the ratings they attract because of this. Jakki May explains why brokers should be aware of the issue to provide the best service to their customers.
Portuguese Tranquilidade's maintains 'BBB-' rating
Portuguese insurer, Companhia de Seguros Tranquilidade SA's maintains 'BBB-' insurer financial strength rating on rating watch negative.
News analysis: Insurance industry feels the shockwaves of the economic meltdown
It has been hard to escape the doom and gloom of the volatile stock market and wider economic woes over the past week.
BIS 2011: EU economy could go into meltdown, warns former Bank of England boss
The former deputy governor of the Bank of England Sir John Gieve has forecasted the European economy will either slowly limp along to recovery and see unemployment rise or go into complete meltdown.
Groupama actions fail to avert S&P rating action
Standard & Poor's Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings of Groupama SA and its related subsidiaries to 'BBB' from 'BBB+', and removed them from Credit Watch with negative implications.
Greek government issues second IPT penalty amnesty
The Greek parliament has passed a law that includes a further amnesty provision on penalties for insurance premium tax.
Exposure to sovereign debt could led to more downgrades
A worsening of the economic or investment landscape could result in an increase in negative outlooks or downgrades for insurers and reinsurers operating in Europe a report has found.
AIR updates European wind and earthquake CAT models
Catastrophe risk modeling firm AIR Worldwide has released updates to its Extratropical Cyclone and Earthquake Models for Europe.
Allianz and subsidiaries A+ rating affirmed
Allianz Societas Europea and a number of its subsidiaries have had their financial strength rating of A+ and issuer credit rating of AA confirmed by AM Best, despite the company’s high exposure to peripheral Eurozone sovereign credit risk.
Compensation harmonisation across the EU
The European Union has a raft of measures to try and achieve harmonisation between member states but as Sarah Hamilton reports there is a long way to go in achieving a single compensation system.