Spain
Admiral COO describes 2011 as a year of two halves as profit hits £299m
Admiral has reported group profit before tax up 13% at £299m in 2011 (2010: £266m) on a turnover up 38% at £2.19bn (2010: £1.58bn).
Kiln launches into specialist property with appointment in Paris
Kiln has appointed a new underwriter in Paris to focus on a broad range of property facultative reinsurance risks across Europe.
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.
Asian results help JLT offset difficult European trading period in 2011
Strong retail revenue growth and margins in Asia helped Jardine Lloyd Thompson offset difficult trading environments in Europe and deliver profit before tax of £147.6m for the full-year ending 31 December 2011.
Narec joins with Spanish Idermar on offshore energy project
UK renewable energy finance and insurance company Narec Capital has been appointed by Idermar, developer of Europe's leading offshore wind meteorology platform technology, to advise on finance, insurance and UK market entry.
Protection needed for consumers to embrace 'mobile wallets'
Consumer interest in mobile transactions would be "exponentially higher" if secure protection products were an option, according to a survey on mobile trends by specialty insurer Assurant Solutions.
Eurozone crisis biggest challenge for life insurers
Continued eurozone crisis will affect insurers in 2012, but it is difficult to quantify how severely, according to Fitch senior director Federico Faccio.
Mapfre and CEA join forces to target French travel market
Mapfre Asistencia has signed a strategic agreement with French firm Compagnie Européenne d'Assurances for joint operations in the French travel insurance sector.
Countdown to ISE: Q&A with guest speaker Kurt Karl
Kurt Karl, managing director, chief economist and head of economic research and consulting at Swiss Reinsurance, will be presenting the session on 'Recent economic challenges and risk management' at Insurance Strategy Europe in Brussels on Wednesday 21…
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.
Santalucía adopts SAS Risk Management for Solvency II
Spanish insurer Santalucía is to use SAS Risk Management for Insurance to help meet Solvency II, Pillar I requirements to manage risks and calculate metrics.
Market moves: Spring comes early for insurers
Following a strong week for managing general agents, insurers were the main recruiters this week as the market begins its move into the spring.
Spanish Supreme Court ruling puts paid to 14-year dam legal battle
The Supreme Court in Spain has ruled that the 1998 rupture of the Aznalcollar tailings dam near Seville, Spain, was not caused by a fault in the design of the dam.
Moody’s takes action against insurance groups exposed to Italy and Spain
Moody's has taken action on several European insurance groups and related entities to reflect the increased financial risks stemming from their operating and investment exposure to weakened European sovereigns and banks, and the ratings agency's…
Market moves: MGAs making the moves
This week the recruitment space belonged to managing general agents.
Editor's Comment: RBSI takes the Direct approach
The news that Royal Bank of Scotland Insurance is to use the Direct Line brand comes as little surprise.
JLT merges Spanish arm with local giant
JLT is to combine its existing Spanish retail broking business JLT-SIACI Espana SL with the business of March - Unipsa Correduria de Seguros, SAU (Unipsa), the fourth largest commercial insurance broker in Spain and a subsidiary of Banca March, to form…
JLT merges Spanish arm with local giant
JLT is to combine its existing Spanish retail broking business JLT-SIACI Espana SL with the business of March - Unipsa Correduria de Seguros, SAU (Unipsa), the fourth largest commercial insurance broker in Spain and a subsidiary of Banca March, to form…
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.
Mapfre: performance warrants better credit rating
Mapfre's general manager criticised ratings agencies for failing to take the company's financial figures into account when downgrading them, at the Spanish insurer's press briefing this morning.
Mapfre reports 15.5% premium growth for 2011
Spanish insurer Mapfre reported a 15.5% growth in premiums to €19,600.2m in its full year 2011 results released today.
Liberty Mutual names three for claims
Liberty Mutual Insurance Europe has boosted its claims operations with three senior appointments in London, The Hague and Madrid.
Liberty Mutual Europe appoints senior claims figures
Liberty Mutual Insurance Europe has made three senior appointments to its claims operations as part of its quest to provide claims service on a local basis.
Mapfre IDR downgraded following sovereign
Fitch Ratings has downgraded the issuer default rating for Spanish insurer Mapfre SA and its core subsidiaries from ‘A-‘ to ‘A’.