Spain
Elite opens offices in France and Italy
Specialist legal and after-the-event insurer Elite is expanding its footprint in Europe by opening two new offices.
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
Antonio Huertas Mejías to take over as chair of Mapfre
The board of directors of Mapfre has elected Mr Antonio Huertas Mejías as the new chairman of the company and chief executive of the group.
Mapfre placed on Rating Watch Negative
Mapfre’s ‘A’ Issuer Default Rating and its core operating subsidiaries’ ‘A+’ Insurer Financial Strength (IFS) rating have been placed on rating Watch Negative (RWN) by Fitch Ratings.
UK insurers wait on developments following PM Cameron EU Treaty veto
Standard and Poor’s downgrade warning on 15 insurers should have been “no surprise” but the market is still in the same position it was a week ago given the lack of “concrete activity” at the weekend, according to an industry analyst.
O’Roarke and LV management team extend contract until 2016 – Insurance News Now
Post senior reporter Amy Ellis outlines this week's major general insurance stories including how LV general insurance MD John O’Roarke is targeting an increase in SME and home insurance business having signed up to a new four-year deal at the firm.
Generali and Mapfre among insurers downgraded by Fitch
Several Italian and Spanish insurers have been downgraded following assessments of their pro-forma capital adequacy amid challenging investment conditions.
Fitch takes rating actions on Italian and Spanish insurers
Fitch said the rating actions follow its assessment of the insurers' pro-forma capital adequacy amid challenging investment conditions, particularly in Italy and Spain, including ongoing pressure from heightened government bond yields.
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.
European financial services M&A activity down by 25%
There has been a significant slowdown in European financial services M&A activity during the Q3 of 2011.
Online client contact is not possible without personal attention
In the future, personal client contact will be replaced principally by online client contact according to a poll by CED.
Taiwan's insurers urged to stop lending securities for shorts
Taiwan’s regulators have urged insurers to stop lending securities to short sellers seeking to bolster equities after the Taiex Index slumped.
Spanish and French SMEs rank lowest in their understanding of insurance
Spanish and French SME’s rank the lowest when it comes understanding their insurance options, according to a recent study by Hiscox.
CED expands its network in Wallonia with the takeover of Bureau Farcy et Cie
Loss adjuster in the Benelux and Spainish regions, CED has expanded its presence in Belgium with the takeover of Bureau Farcy et Cie sprl.
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.
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.
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.
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.
Shareholders show support for Jardine Matheson's JLT buy-in bid
Jardine Matheson’s bid to increase its stake in broker JLT by buying 10% of the company got more than 85% support from the other shareholders.
Insurance Insight weekly update live - 21 October
Insurance Insight’s weekly update is live with an article on how brokers need to be up to date on the cyber risks their customers are facing; and a feature of how Lloyd’s of London has spread its each across Europe.
Cyber risks in the modern business
Technology is evolving every day and as Iain Ainslie explains if brokers want to offer their customer the best cover possibly they need to be aware of all risks and the specialist policies available to help them.