Portugal
Coface expects lower profit margins due to Europe debt crisis
Credit insurer Coface SA has said it may post lower profit margins from underwriting as Europe's debt problems fuel higher claims.
MDS Holdings recruits international specialist to spearhead expansion plans
European and Latin American broker MDS Holdings plans to expand its global footprint beyond its current Portuguese, Angolan and Brazilian territories.
Political risks: Economic unrest triggers interest and questions over cover
The UK, France, Germany, Italy, Portugal and Spain have all been re-rated 'medium risk' from 'low risk' by Aon Risk Solutions, as part of a downgrade of 37 countries in the firm's annual Terrorism & Political Violence map.
Terrorism and civil unrest: Risky business
With several parts of the world engulfed by violence and civil unrest, is traditional terrorism and political risk cover increasingly irrelevant?
Taiwan insurance industry exposure to PIIGS revealed
Taiwan's insurance firms launched total investments of NT$13.9bn (£295m) in Portugal, Italy, Ireland, Greece and Spain in the first four months of the year.
Uniqa reports profits up 20% for Q1 2012
The Uniqa Group has reported profit up 20.2% in the quarter one of 2012 to €54.4m (Q1 2011: €45.2m).
Q&A: Vienna Insurance Group CEO Gunter Geyer
While the economic turmoil of the Eurozone crisis and heavy catastrophe losses eroded the bottom line of many European insurers in 2011, Vienna Insurance Group enjoyed the most profitable year in the group’s history, and avoided having its A+ credit…
Terrorism and political violence poll result
Risk downgrades were applied last week to the UK, France, Germany, Italy, Portugal and Spain.
ISE 2012: Portugal to follow Greece but sovereign defaults won't 'cripple' insurers
Kurt Karl, managing director, chief economist and head of economic research and consulting at Swiss Re, has predicted that Portugal will be the next nation to default, but that it will not cripple the insurance industry.
European construction – back to good health?
Construction markets have suffered across the globe with the financial downturn biting hard. Edward Murray investigates whether there are any glimmers of hope for the European market in 2012.
Cigna relocates Europe HQ to London
Insurer Cigna is relocating the European headquarters of its international health, life and accident business from Madrid to London in a bid to be closer to its largest revenue stream.
Liberty Europe targets energy and construction in Spain with two new hires
Liberty International Underwriters Europe has made two senior appointments in its Madrid office, as the firm looks to grow its energy underwriting and construction capabilities in Spain and Portugal.
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.
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.
XL gets green light for Brazilian insurance company
XL Group has announced that it has received final approval from the Brazilian insurance and reinsurance regulator, Superintendencia de Seguros Privados, to establish an insurance operation in the country.
Allianz's 'AA-' IFS rating affirmed
Allianz SE has had its insurer financial strength rating and long-term issuer default rating affirmed at 'AA-' by Fitch
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.
Reaction to proposed ELD extension
The CEA claims the proposed extension to the Environmental Liability Directive will be damaging for European insurers. Francesca Nyman asks the market for its initial reaction to the proposal.
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.
Mapfre sees 13.9% increase in GWP up to Q3 in 2011
Spanish reinsurer Mapfre’s gross written premiums for the first three quarters of 2011 were $14.7bn, a 13.9% increase year on year.
S&P lowers ratings for Mapfre and core subsidiaries
Spanish insurer Mapfre has had its insurer financial strength and long-term counterparty credit rating downgraded to 'AA-' from 'AA' by Standard and Poor’s following its sovereign downgrade of Spain last week.
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”.