Spain
AM Best delivers verdict on 'under pressure' Spanish non-life sector
Spanish insurers could face deteriorating technical results as they compete on price, despite the sector chalking up a profitable 2011.
Results deteriorating for Spanish insurers as crisis continues
The Spanish non-life insurance sector remained profitable in 2011, but growth remains challenging amid one of the bleakest economic environments since the 1930s, according to AM Best.
XL adds seven new hires to continental casualty team
XL has added seven underwriters to its casualty team to meet the growing demand for liability solutions throughout Europe.
Top five European news stories
The top five European stories from www.insuranceinsight.com over the past seven days.
Lemma faces liquidation after deterioration in finances
The Gibraltar Financial Services Commission has confirmed that Lemma Insurance Company has gone into liquidation.
European floods: keeping the funds flowing
Floods are an on-going threat for Europe, yet the approach to insuring and recovering from them is wide and varied. Francesca Nyman investigates how Europe is tackling the issue and what the future is likely to bring.
Top five European news stories
The top five stories from insuranceinsight.com over the past seven days.
WR Berkley España appoints new president
WR Berkley Corporation has promoted Alejandro Jiménez to executive chairman of WR Berkley Insurance (Europe) Limited Sucursal En España.
Mapfre and Euler Hermes receive green light for JV
Spanish insurer Mapfre and French insurer Euler Hermes have been cleared by the European Commission to proceed with their planned credit insurance joint venture.
MDS and Towers Watson JV to serve Portuguese clients
Professional services firm Towers Watson and Broker MDS have joined forces to establish a benefits brokerage consulting service in Portugal.
Mapfre and Genworth join forces to sell products in Latin America
Spanish insurer Mapfre is to distribute Genworth lifestyle protection insurance products in Latin America.
New member joins Ferma board
Isabel Martinez, a member of the Spanish risk management association AGERS, has joined the board of the Federation of European Risk Management Associations.
Casualty insurers warned about recent legal deveopments
A ruling on pesticide manufacturers' liability, reforms to Spanish law on directors' and officers' cover and more stringent rules for Polish motor insurers, are among recent legislative changes with implications for European casualty insurers.
Ocaso appoints Stemp as UK general manager
Spanish insurer Ocaso has named Tim Stemp as general manager of the UK arm.
Admiral's international arms report £8.9m loss in 1H 2012
Admiral's international insurance business has reported significant growth in turnover and total premiums written in the first half of 2012 to £79.7m and £74.4m respectively (H1: 2012 £53.9m and £49.5m).
Uniqa posts earnings up 43.2%
The Uniqa Group has posted first-half earnings before tax up 43.2% to €106.5m (2011: €74.4m).
Admiral to slow UK growth despite 9% rise in profit
Admiral's pre-tax profit rose to £171.8m in the first half of 2012 (H1 2011: £160.6m) having increased the number of vehicles insured by 11%, or 350 000, to 3.5 million.
Bupa posts 22% fall in US and European profit
Global health insurer Bupa posted a 5% increase in revenues to £4.1bn and a 3% increase in pre-tax profits to £255.3m for the first six months of 2012.
Società Reale Mutua di Assicurazioni's outlook negative due to weaknesses
Italian insurer Società Reale Mutua di Assicurazioni and its Spanish subsidiary Reale Seguros Generales have been issued with insurer financial strength ratings at 'BBB+' with negative outlooks.
Top five European news stories
The top five European stories from www.insuranceinsight.com over the past seven days.
Allianz, Generali and Munich Re dominate as European travel insurance market prospers
European markets for travel insurance and assistance continue to flourish with Allianz, Generali and Munich Re heading the market.
Willis' European growth held back by declines in Spain and Netherlands
Willis Group has reported net income from continuing operations of $332m for the six months ended 30 June 2012, compared with $119m in the same period a year ago. Operating income increased to $496m (H1 2011: $395m).
Russia and Romania travel insurance markets thrive in economic crisis
Travel insurance in Russia, Romania and Turkey boomed between 2008 and 2012, despite the Eurozone crisis, while the UK and Ireland saw foreign travel decline, new research has revealed.
Willis opens super-yacht office in Barcelona
Willis Group Holdings is opening a new super-yacht insurance broking office at the prestigious MB92 shipyard in Barcelona.